Fdi European Cities and Regions of the Future 2020-21
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CONTENTS Published by The Financial Times Ltd, Bracken House, 1 Friday Street, London EC4M 9BT, UK Tel: +44 (0)20 7873 3000. Editorial fax: +44 (0)1858 461873. Staff members can be contacted by dialing +44 (0)20 7775 followed by their extension number Editor-in-Chief Courtney Fingar 6365 [email protected] Deputy Editor Jacopo Dettoni 4339 [email protected] Global Markets Editor Sebastian Shehadi 3186 [email protected] Global Investment Reporter Alex Irwin-Hunt 6437 [email protected] Production Manager Richard Gardham 6367 [email protected] Deputy Production Editor Andrew Petrie 6230 [email protected] Executive Editor Brian Caplen 6364 [email protected] Art Director Paramjit Virdee 6535 [email protected] Advertisement Executive Sophie Horton 4830 [email protected] Global Business Director Adrian Northey 6333 [email protected] Associate Publisher Charlotte Lloyd +34 (0)682736571 [email protected] Associate Publisher Luke McGreevy +971 (0)4 391 4398 [email protected] Publishing Director Angus Cushley 6354 [email protected] B2B Marketing Manager Lauren Drew 4462 [email protected] Senior Marketing Executive Jay Seenundun 6896 [email protected] Magazine customer services CDS Global, Tower House, Lathkill Street, Sovereign Park, Market Harborough, Leics, UK. LE16 9EF [email protected] tel: 0845 456 1516 (customer services) 01858 438417 (overseas), fax: +44 (0)1858 461 873 The Financial Times adheres to a self-regulation regime under the FT Editorial Code of Practice: www.ft.com/editorialcode INTRODUCTION Printed by Walstead Group in the UK In spite of the uncertainty caused by Brexit, London retains its position as fDi’s European City of the Future Registered Number: 227590 (England and Wales) ISSN: 1476-301X © Financial Times Ltd 2020. FDI is a trade- 04for 2020/21, while Paris keeps the regional crown. mark of Financial Times Ltd 2020. “Financial Times” and “FT” are registered trademarks and service marks of the Financial Times Ltd. All rights reserved. No part CITIESWINNERS of this publication may be reproduced or used in any form of advertising without prior permission in writing London has retained its position as fDi’s European City of the Future, while Paris has climbed to second from the editor. No responsibility for loss occasioned to any person acting or refraining from acting as a 06place, knocking Dublin into the third spot. result of material in this publication can be accepted. On any specific matter, reference should be made to an appropriate adviser. Registered Office: Bracken FDISTRATEGY:CITIES House, 1 Friday Street, London EC4M 9BT, UK London is crowned best major city in Europe in fDi’s FDI Strategy category, with Glasgow, Vilnius, Reykjavik Reprints are available of any fDi Magazine article, with your company logo and contact details inserted if 18and Galway also winning out. required (minimum order 100 copies). For details telephone 0207 873 4816. For one-off copyright licences for reproduction of fDi magazine articles telephone 0207 873 4871. REGIONSWINNERS Alternatively, for both services Paris Region has kept its fDi European Region of the Future title, while Dublin Region holds on to second e-mail [email protected] 24place and North Rhine-Westphalia is in third. FDISTRATEGY:REGIONS North Rhine-Westphalia is fDi’s top large region for FDI Strategy, with the Basque Country topping the table 34for mid-sized regions and Ireland South East first among small regions. UKLEPs WINNERS London LEP and Thames Valley Berkshire LEP hold on to their respective first and second places in the 38Local Enterprise Partnership rankings, while Oxfordshire LEP jumps up eight places to third. February/March 2020 www.fDiIntelligence.com 3 INTRODUCTION INTRODUCTION EUROPEAN CITIES AND REGIONS OF THE FUTURE 2020/21 EUROPEAN CITIES AND REGIONS OF THE FUTURE 2020/21 European Cities and Regions of the Future 2020/21 Winners IN SPITE OF THE UNCERTAINTY CAUSED BY BREXIT, LONDON RETAINS ITS POSITION AS fDi’S EUROPEAN CITY OF THE FUTURE FOR 2020/21, WHILE PARIS KEEPS THE REGIONAL CROWN. NAOMI DAVIES REPORTS he three-and-a-half years since relocated or are putting plans in On the other hand, Brexit has the UK’s 2016 Brexit vote have motion to ensure access to the EU incentivised some companies to Tbeen tumultuous, marked by single market. In February 2019, the invest in the UK. In September 2018, divisive national debate, several knife- Dutch government revealed it was Switzerland-based law firm Lalive edge votes and two general elections. in talks with more than 250 compa- announced it will be setting up an According to EY’s Europe nies about moving their operations office in London in preparation for Attractiveness Survey 2019, 38% of from the UK to the Netherlands, the increased need for dispute resolu- investors believe Brexit to be the most having already secured firms tion legal services as a result of Brexit. significant risk to Europe’s attractive- including Discovery Channel, Sony In addition, Severs.com, a global ness, up from fourth the previous and Bloomberg. hosting provider and subsidiary of year. Political instability in the EU In the financial sector, many com- Luxembourg-based XBT Holding, was the second most common con- panies are opting to move or expand opened a new data centre in the capi- cern, followed by the rise in populist away from London. In January 2020, tal in May 2019 to address any data and protectionist feeling. JPMorgan Chase & Co announced sovereignty fears among the compa- plans to expand in Paris – whose sur- ny’s client base following Brexit. London falling? rounding region retains the fDi’s With the UK having left the EU on In spite of this tumultuous environ- European Region of the Future crown January 31, 2020, and a withdrawal ment, London has retained its posi- – buying the former BNP Paribas deal in place that provides for a tran- tion at the top of fDi’s European offices to house as many as 450 staff. sition period until December 31, Cities of the Future ranking, but is In addition, firms such as Barclays, 2020, some light has finally been its grip likely to weaken in a post- Goldman Sachs and Bank of America shed for both future investors and Brexit landscape? With investors have been preparing for the worst- other locations seeking to close the seeking to diversify their EU pres - case Brexit scenario by building gap on the UK’s investment hub sta- ence outside the UK, an increasing offices in cities including Dublin, tus. All eyes will now be on London to number of companies have already Paris and Frankfurt. see what the next few years bring. ■ 4 www.fDiIntelligence.com February/March 2020 INTRODUCTION EUROPEAN CITIES AND REGIONS OF THE FUTURE 2020/21 TOP 25 EUROPEAN CITIES OF THE FUTURE 2020/21: OVERALL “IN RANK CITY COUNTRY 1 London UK COLLABORATION 2 Paris France 3 Dublin Ireland WITH THE CIVIL 4 Munich Germany 5 Amsterdam Netherlands SOCIETY AND 6 Warsaw Poland 7 Zug Switzerland PRIVATE SECTOR, 8 Shannon Ireland 9 Zurich Switzerland WE AIM TO 10 Berlin Germany 11 Madrid Spain DEVELOP 12 Moscow Russia 13 Helsinki Finland HELSINKI AS A 14 Frankfurt Germany 15 Slough UK PLATFORM FOR 16 Prague Czech Republic INNOVATION, 17 Stryków Poland 18 Oslo Norway INVESTMENTS 19 Barcelona Spain 20 Stockholm Sweden AND NEW 21 Cambridge UK 22 Bucharest Romania TALENT” 23 Newbury UK 24 Espoo Finland JAN VAPAAVUORI, 25 Copenhagen Denmark MAYOR, HELSINKI TOP 25 EUROPEAN REGIONS OF THE FUTURE “THIS LONG-TERM 2020/21: OVERALL RANK REGION COUNTRY SUCCESS MAKES 1 Paris Region France 2 Dublin Region Ireland NORTH RHINE- 3 North Rhine-Westphalia Germany 4 Baden-Württemberg Germany WESTPHALIA 5 Bavaria Germany VERY PROUD AND 6 South-east England UK 7 North Holland Netherlands HIGHLIGHTS 8 Uusimaa Finland 9 Oslo County Norway ONCE AGAIN OUR 10 Scotland UK 11 Canton of Zug Switzerland LEADING ROLE AS 12 Prague Region Czech Republic 13 Canton of Zurich Switzerland AN ATTRACTIVE 14 Hesse Germany 15 Catalonia Spain BUSINESS AND 16 Stockholm County Sweden 17 East of England UK INNOVATION 18 Comunidad de Madrid Spain 19 Hamburg Region Germany HOTSPOT” 20 Greater Copenhagen Denmark PETRA WASSNER, 21 Brabant Netherlands 22 Bratislava Region Slovakia CEO, NRW.INVEST 23 Berlin Region Germany 24 Luxembourg Luxembourg 25 South-West Region Ireland February/March 2020 www.fDiIntelligence.com 5 CITIES WINNERS EUROPEAN CITIES AND REGIONS OF THE FUTURE 2020/21 London maintains European pre-eminence LONDON HAS RETAINED ITS POSITION AS fDi’S EUROPEAN CITY OF THE FUTURE, WHILE PARIS HAS CLIMBED TO SECOND PLACE, KNOCKING DUBLIN INTO THE THIRD SPOT. NAOMI DAVIES REPORTS espite Brexit uncertainty, international destinations. London has held on to its title London is awarded the best major Das the overall European City of European city for Business the Future for 2020/21. The UK capi- Friendliness title because companies tal gave a well-rounded performance can start a business in fewer than five in the review period, topping five out days, and there are more than 80,000 of seven category tables in the major companies in the knowledge-based cities classification. sector in the city. London attracted 2257 FDI pro- jects between October 2014 and Paris rises September 2019, the highest out of all Paris climbs to second place in this 319 cities analysed. North American year’s ranking of European cities, up investors were responsible for almost from third in the 2018/19 study. The half (44%) of the total projects during City of Lights attracted 1054 FDI pro- this period, followed by companies jects between October 2014 and from western Europe (26%) and the September 2019 – the second highest Asia-Pacific region (18%).