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Manchester rises on European FDI Rankings despite economic uncertainty

Categories: Latest News

FDI winners 2020 2021

Related sectors

Manchester India Partnership, Advanced ManufacturingCreative, Digital & TechnologyFinancial, Professional & Business ServicesLife Science & Healthcare

Manchester has been recognised as Europe’s 5th best large city for business, ranking ahead of cities including Rotterdam, Glasgow and Cologne. The results were published in the Financial Times’ fDi European Cities and Regions of the Future 2020/21 report on 14 February.
Manchester retained its position as the best large city in Europe for business friendliness and jumped up the rankings for connectivity and FDI strategy to secure 5th overall position – one place higher than the city ranked in the 2018/19 report.
Manchester did not rank in the top 10 for FDI strategy in the previous report despite securing 6th in the global rankings that year but has soared to 3rd in Europe for 2020/21.
The city fell three places in the economic potential ranking – from 6th to 9th – with all eight positions above it being taken by large European cities on the mainland, six of which are in Germany.
Tim Newns, CEO of MIDAS – Greater Manchester’s inward investment agency, said:

“These results demonstrate Manchester’s true resilience, having maintained or advanced its position across four out of five rankings despite the economic uncertainty that the UK has experienced throughout the last couple of years.

Since the EU referendum, economic uncertainty has caused investment decisions to be delayed – which also will have affected the UK’s potential as an investment location in the short term – but with the support of our partners and stakeholders, MIDAS has worked strategically and proactively to stimulate the market and create a strong pipeline of projects and jobs for the city region that we hope to close in coming months and years.”

In the last financial year (2018/19) MIDAS supported the creation of 4,380 jobs across the city region, the highest number in its 22-year history, generating £311m GVA. This was largely due to a surge in technology-focused investments, with jobs created in the creative, digital and technology sector accounting for almost 50 per cent of the total number created.

Sir Richard Leese, Leader of Manchester City Council and Deputy Mayor for Business and Economy, said:

" This strong showing emphasises Manchester's attractiveness as one of the world's best places to do businesses which supports the creation of jobs and opportunities for people here. That we are so highly ranked is no accident but the result of a concerted long-term strategy to ensure Manchester has the ambition, innovation and skills to keep moving forwards in a changing world."

Click here to view the full report

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