A new study by KPMG International has rated Manchester as Europe’s top city for business competitiveness.
The study looked at 100 cities throughout largely the developed world and examined how competitive business costs are in the different locations, using New York, Los Angeles, Chicago and Dallas-Fort Worth as a baseline.
Manchester was ranked number one in Europe and number four in the world, with business costs seven percentage points lower than London, which was ranked number 36 in the world.
Tim Newns, Deputy Chief Executive at MIDAS, Manchester’s Investment and Development Agency, commented: “Having competitive business costs coupled with a large and highly skilled workforce is a major factor in winning inward investment and for Manchester to be ranked number one in Europe, and fourth in the world, underpins the city region’s attractiveness to major employers worldwide.
“This report confirms Manchester’s place in an elite peer group of the world’s top business cities and accelerates the city region’s drive to be at the forefront of every major business thinkers mind when considering location. Our superb universities and colleges; world class airport and transport communications; a ‘can do’ attitude, and excellent quality of life for relocating executives gives Manchester every opportunity to further build on the strong inward investment results of the last year.”
This latest independent recognition from KPMG follows on from our coveted top twenty rating for investment projects in the influential IBM Global Location Trends Survey and as ‘The Most Admired Knowledge City Region’ at the MAKCi global awards ceremony in Schenzen, China.
Malcolm Edge, Vice Chairman of KPMG UK and member of the MIDAS board, added: “To be ranked the most competitive European business city is an illustration of why businesses from around the globe now view Manchester in the same light as the leading US investment hubs. In these tough economic times, Manchester stands out for its relentless drive towards innovation, meaning businesses can not only find the support they need to relocate to the region, but also the talent pool and infrastructure to sustain operations over a long period of time.”