Warsaw teams up with other European capitals as a great location for doing business. In an overall ranking by Cushman & Wakefield – Global Real Estate Solutions – Warsaw climbed up to number one position for the best place in respect of the ratio between the cost and standard of its office spaces. London won in terms of the best place for running a business in Europe – where Paris and Frankfurt took the second and third position respectively. More and more firms consider moving their business activities to Moscow.
The 2011 edition of the European Cities Monitor report was compiled from interviews with the Board members of 501 largest European companies. The ranking encompasses the best European business-friendly cities. In addition, there was prepared an analysis of 36 cities in terms of the incentives they provide, including, life quality, access to markets, availability and quality of workforce, the ratio of the cost and standard of office spaces, quality of telecommunications services, and finally, transport connections.
10 most attractive cities for doing business in Europe by Cushman & Wakefield:
Position in 2011 (2010) City
1. (1) London
2. (2) Paris
3. (3) Frankfurt
4. (6) Amsterdam
5. (7) Berlin
6. (5) Barcelona
7. (8) Madrid
8. (4) Brussels
9. (9) Munich
10. (13) Zurich
21. (24) Warsaw
As can be seen in the statistical breakdown provided, Warsaw made its way up by three positions (from no. 21 to 24) in the ranking of the most business-friendly cities in Europe. What is more, Warsaw boasts about being the first European city in terms of value for money office spaces. In addition, Warsaw ranks third as the city where the largest influx of foreign companies is expected within 5 years.
Mayor of Warsaw, Hanna Gronkiewicz-Waltz, proudly concedes: For many years we have been doing our best to turn Warsaw into a business-friendly metropolis. To do so, we have been investing into public transport, roads, and telecommunications infrastructure. In addition, we have also been streamlining administration services to adjust them to entrepreneurs’ needs. I’m glad to see that our efforts have been appreciated by international firms and institutions.
The four most important factors for firms seeking a place for their business are respectively: (1) easy access to markets and customers (60% of respondents), (2) access to qualified workforce (53%), (3) quality of telecommunications services (52%), and (4) good domestic and foreign transport connections (42%).
A Cushman & Wakefield ranking of certain criteria which include Warsaw (best position at 1, worst at 3):
European cities which expect the largest influx of foreign firms within 5 years:Moscow,London,Warsaw;
Best cities in terms of the workforce cost: Bucharest,Warsaw,Bratislava;
Best ratio between cost and standard of office spaces:Warsaw,Berlin,Leeds;