Moscow has been named the most favourable city in Europe for companies looking to set up an office, according to a survey by Cushman & Wakefield carried by NZTE’s website.
The report said more companies (47) intend to next set up in the Russian capital than any other European city, a jump from 35 in 2009.
Tim Millard, Managing Director of Cushman & Wakefield in Russia, said: "Major [European] corporates now see Moscow as their top target for future expansion. Strong GDP growth and large scope for increased consumer spending make it an important driver for future company growth".
The Crushman & Wakefield survey reveals that Vienna, Austria, is also growing in popularity this year - moving up six places to rank 22nd best European city for business. London is once again ranked the top business city overall, a position it has held every year since the survey started in 1990.
Paris and Frankfurt are again ranked 2nd and 3rd. Brussels moves back into fourth place ahead of Barcelona with an improved score over the year. The survey is based on interviews with board directors and senior management in charge of location decision for the 500 largest companies in Europe.
It includes an overall ranking of which European city is considered by the business community to be ‘best for business’ and the ‘best city in which to locate a business today’.
In addition to this, 36 cities are ranked against criteria such as quality of life, access to markets, availability and quality of staff, cost of office space, telecommunications and transport links. – Source: NZTE.govt.nz