Amsterdam in top five best European business cities

Amsterdam in top five best European business cities

Amsterdam is in the top five best European cities in which to do business.

Amsterdam has scored strongly this year, continuing the movement seen in 2010 to climb up to 4th place from 6th place.

Moscow has been ranked the most desirable European city for companies to expand into for the second year running, according to a survey by global property consultant Cushman & Wakefield. The number of European companies which expect to locate in Moscow within the next five years has jumped to 57 from 47 in 2010.

London, Paris and Frankfurt remain the top three European cities in which to do business overall. Berlin also performed well and moved into the top five, up two places from 7th position last year. There was also a large rise in the number of business leaders expecting to locate in the city. 23 respondents cited Berlin as the most favourable city in which to expand, almost double that of 2010 (12).

In its 22nd year, the European Cities Monitor report is based on interviews with board directors at 501 of the largest companies in Europe. It includes an overall ranking of which European city is considered to be ‘best for business’ and the ‘best city in which to locate a business today’. In addition to this, 36 cities are ranked against criteria such as quality of life, access to markets, availability and quality of staff, cost of office space, telecommunications and transport links.

As well as increasing its lead as the number one city for companies to expand in, Moscow has also risen significantly in the ranking of best European cities in terms of easy access to markets. This year it takes 11th position, up from 19th in 2010.

Jan Willem Bastijn, Managing Director of Cushman & Wakefield in Amsterdam, commented, “Despite the uncertain economic times, international corporates still perceive Amsterdam to be a business city which provides enough stability to expand into. Amsterdam has risen two positions from 6th to 4th ranking, most likely due to the strong fundamentals that the city has always offered, such as a diverse occupiers market, steady political environment and international orientation.

Globally, the results show that the gap between the top three cities is decreasing considerably. London, Paris and Frankfurt have been in the top three ranking ever since the survey was first undertaken in 1990 but cities such as Amsterdam and Berlin are now judged as being almost as attractive as Frankfurt.”

“Easy access to markets, availability of qualified staff and quality of telecommunications are all considered critical factors driving the decision-making process. Accordingly, London, Paris and Frankfurt continue to be ranked as the best three cities overall, although Amsterdam is slowly narrowing the gap on the top three.”

Those surveyed viewed ‘new opportunities from the emerging markets for products and services’ as the number one trend/issue most likely to impact on business over the next five years (31%). With concerns regarding an ageing population across Europe, ‘demographic and workforce change’ is the second highest ranked (16%). Technological change took third position (15%).

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