London ranked as top European city for business

Oct 7, 2008

London is number one again

The latest European Cities Monitor 2008 has once again ranked London as the top European city in which to locate a business for the 19th consecutive year. It is ranked the number one city in half of the 12 major areas, including access to markets, availability of qualified staff as well as international and internal transport links.

Michael Charlton, Chief Executive at Think London, comments:

"London continues to attract the largest number of foreign direct investment projects in Europe as it remains the number one choice for businesses wanting a skilled workforce, good transport links and an accessible market. London is also highly attractive to non-European companies, especially Indian, Chinese and US firms, wishing to easily access the European Union’s 27 member states with a population of nearly 500 million. As we approach a tougher economic climate, it is important that the city retains its competitive edge, and we are looking forward to maintaining our position next year."

Commercial property prices fell in London by 20% in the last 18 months and are set to continue falling, according to a recent report by real estate advisor CB Richard Ellis (CBRE). It is predicted that prices will fall a further 10 percent, making it the largest reduction in Europe.

The European Cities Monitor (ECM) is the annual location survey of Europe’s leading companies carried out by global real estate consultant Cushman & Wakefield. The survey, undertaken by market research firm Taylor Nelson Sofre, is based on interviews with senior managers and board directors in charge of location of 500 top European companies. It looks at factors regarded as important by companies when deciding where to locate, and then compares the performance of 34 of Europe’s leading business cities on each factor.