London tops ranking for Europe’s most attractive city for businesses

Helen Cahill
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Colliers warned some UK cities suffered from a lack of investment (Source: Getty)

London is Europe's best city for business and employees for the second year in a row, according to a survey by Colliers International.

The capital beat Paris, Madrid and Moscow to top the rankings, with Birmingham coming in fifth place in the rankings.

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The Colliers International report assessed cities based on availability of talent, economic output and productivity, alongside other factors. London came high on the rankings due to the quality of the people working in its services sector.

Other UK cities performed well in the index, with Edinburgh and Manchester coming in seventh and tenth place respectively.

However, Colliers International warned that despite the growth-potential of many major UK cities, they still suffered from a lack of investment.

“London has proved its resilience and magnetism as a global hub in the wake of the EU referendum with a diverse spectrum of investors and occupiers identifying the city as the best place in which to conduct their business," said David Hanrahan, Co-head, London Agency and Development at Colliers International.

"Concerns about a mass post-Brexit exodus from London to the continent have been tapered as the market has rallied, with European businesses close to quadrupling their activity in London last year. This is indicative of the wider factors at play that influence employees and employers alike, not least, striking the right balance between talent, quality of life, cost and risk.”

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