Warsaw, Poland has been named in Cushman & Wakefield's 20th annual European Cities Monitor as the city which can expect the biggest influx of companies in the next five years, knocking Moscow off the top spot. In total, 36 of Europe鈥檚 largest companies named Warsaw as the European city in which they intended to expand next, up from 28 in 2008. 35 companies named Moscow, down from 44 in 2008.
Warsaw, Poland has been named in Cushman & Wakefield's 20th annual European Cities Monitor as the city which can expect the biggest influx of companies in the next five years, knocking Moscow off the top spot. In total, 36 of Europe鈥檚 largest companies named Warsaw as the European city in which they intended to expand next, up from 28 in 2008. 35 companies named Moscow, down from 44 in 2008.
The European Cities Monitor, based on a survey of 500 of Europe鈥檚 largest companies, also names Birmingham, UK as the best performing city, moving up seven places to 14th.
London is once again ranked the best business city in Europe, a position it has held every year since the survey started in 1990. Paris and Frankfurt are again ranked 2nd and 3rd.
鈥楾he total number of locations in which the companies plan to focus their expansions has increased by around 3% compared with last year. This indicates a gradual stimulation of economy. While the objective of companies in the past was mainly cities in Eastern Europe, this year we are witnessing increasing of interest into bigger cities and Western Europe,鈥� says Alexander Rafajlovi, head of research at Cushman & Wakefield Prague.
The 2009 European Cities Monitor features a special analysis of the performance of cities since 1990. All of the key central and eastern European cities have increased their position. Most have been buoyed by EU accession, with Prague and Warsaw the biggest risers.
The Spanish cities of Barcelona and Madrid have also performed especially - ranking 4th and 6th respectively this year. In 1990 they were ranked at 11 and 17 respectively.
'While a number of cities stand out across Europe, particularly London, Paris and Frankfurt, it is evident that these cities are being challenged by a wide cross section of cities on individual location factors,' said Elaine Rossall, head of business space research, Cushman & Wakefield. 'For example, Berlin is seen to be a great city for internal transport and availability of office space, while Geneva scores strongly for its investment climate and quality of life.'
