Manchester is Europe’s third most influential city
Thanks to a combination of factors including top scores for talent, location, the cost of living, Manchester ranked third in Colliers International Cities of Influence TLC index.
The city’s work within the Northern Powerhouse initiative has also given it kudos on an international level.
London and Paris hold the top two spots, primarily because of their size, while Stockholm and Dublin feature fourth and fifth place, respectively, while the bottom ranking markets features Milan, Budapest and Brussels.
Andrew McFarlane, director and head of the Manchester office of Colliers International, said: “Manchester has worked hard to build its reputation as an international city.
“Over the past 20-plus years it has steadily grown and developed into the global player that it is today and that momentum is still building as Manchester cements its place at the heart of the Northern Powerhouse.
“What is encouraging about this report is that what has been clear to many in Manchester for several years is increasingly being recognised by a global audience. Manchester’s best days lie ahead.”
The report’s ‘TLC’ index features 20 major individual economic cities which are ranked in terms of talent, location and cost.
These factors have been categorised based on the size and orientation of economic output and the workforce; the capacity and skill-set of the latent and emerging talent pool; the cost and affordability of the city – as a place to live and save, and in terms of the cost of labour and total cost of office occupation; and finally, the country risk associated with the market, and the inherent risk/challenges presented by labour laws.
Damian Harrington, director head of EMEA Research at Colliers International, added: “Some occupiers will be more focused or interested in one component over another and thus the overall weightings and scores could change according to these preferences.
“For example, occupiers driven by cost may see the southern European and CEE markets as more attractive than their northern and western European counterparts. Alternatively, occupiers focused on a digitally sophisticated workforce will be more tempted by Stockholm and Prague than Barcelona or Brussels.”
The top 20 influential cities are as follows:
Source: Manchester Evening News
Photo Credit: Rikki Chan