A biennial study of the business competitiveness of over 100 cities in 10 countries around the world by KPMG has found that Manchester is, for the third time running, the most attractive European city in which to do business.
The primary focus of the Competitive Alternatives report is the balance between quality and international business costs. The study assesses factors such as labour availability, skills, economic conditions, innovation, infrastructure, regulatory environment, cost of living and personal quality of life. The results revealed that Manchester is Europe’s front runner, with overall business costs significantly below the US baseline and London.
Commenting on the results, Tim Newns, Chief Executive of Manchester’s inward investment agency MIDAS, said: “We promote Manchester first and foremost on its high quality proposition, particularly in areas such as science-based industries and research, but there is no doubt that our cost competitive base further differentiates us against our European and global competitors.
“These cost advantages are not simply operational in terms of salary and property but also evident in cost of living which means staff have a higher disposable income and therefore a better quality of life. This is particularly prevalent where companies are looking to attract graduates, which is something Manchester has in abundance and is why we are seeing growing demand for investment in Manchester, not just for cost-sensitive operations but for high-value European headquarters.
MIDAS consists of a core team of sector and market specialists who pro-actively generate and nurture investment across the following sectors in Greater Manchester: biomedical sciences and healthcare; creative media and digital; ICT; energy and environment; financial and professional services, advanced manufacturing; and business services.
It works in close partnership with UK Trade and Investment (UKTI) to secure international business for Greater Manchester.
MIDAS offers an extensive package of expert, free and confidential advice for potential investors and location consultants. For more information: + 44 (0)161 875 2239 www.investinmanchester.com