warsaw named most favoured european city for attracting new business
News Posted On: 07 October 2009
Cushman & Wakefield’s influential survey of 500 of Europe’s largest companies has named Warsaw, Poland as the city most likely to attract the biggest influx of companies over the next five years. 36 of Europe’s largest companies said they intended to expand in Warsaw, up from 28 in 2008, edging Moscow into second place in the popularity stakes.
Now in its 20th year, European Cities Monitor interviews senior location managers and board directors of 500 of Europe’s largest companies. Then it produces 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’. The 34 cities included in the survey are also ranked for quality of life, telecommunications, access to markets, availability and quality of staff, cost of office space and transport links.
Since 1990 all of the key central and eastern European cities have seen increases in their desirability, with Prague and Warsaw the biggest risers, buoyed by EU accession.
The Mayor of Warsaw, Hanna Gronkiewicz-Waltz stated: “Warsaw is a financial and political centre of the country, which makes it a good and reliable partner in long-term investments. The rise in Cushman & Wakefield's ranking proves that the Polish capital is an investor-friendly city and has continued its dynamic growth. Warsaw appears resilient to the global crisis and successfully implements strategic investments, maintaining the investment budget at the record level.”
Richard Petersen, managing partner of Cushman & Wakefield in Poland, added: "Foreign investors' interest in Poland has increased steadily since the 1990s and was further stimulated by accession to the EU in 2004. Warsaw ranks high among European capitals in terms of cost of qualified staff, low cost and availability of office space and a positive business climate created by government. Throughout the recent market turmoil, Poland has maintained a positive GDP growth and forecasts indicate that this will continue into 2010. This in turn will provide favourable conditions for a rapid market recovery in the real estate sector during next year."
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