Business News

London Named As Europe's Best City For Business

London has been named as Europe's most business friendly city, according to findings from the 19th annual European Cities Monitor report from global real estate consultant Cushman & Wakefield.

The annual report is the result of interviews with senior managers and board directors in charge of location for 500 of Europe's largest companies. In addition to the overall ranking, 34 cities are ranked against a number of criteria such as transport links, telecommunications, access to markets, availability and quality of staff, cost of office space and quality of life. The survey is undertaken independently for Cushman & Wakefield by Taylor Nelson Sofres.

London is ranked the number one city in half of the 12 major rankings including access to markets, availability of qualified staff and international and internal transport links.

James Young, City of London office head, Cushman & Wakefield, said: "London is fortunate to be situated geographically between the economic powerhouses of the Far East and the United States. It is a truly international city which, although driven by the banking and financial services sector, is also a European media and creative hub. The city is one of the main destinations for international investment and this will increase as it benefits from domestic investment in infrastructure and sporting venues as host of the 2012 Olympic Games."

European Cities Monitor also asked companies which were the key factors when deciding where to relocate their business. The availability of qualified staff came ahead of easy access to markets, customers or clients as the single most important factor with telecommunications marginally ahead of national and international transport links.