Cushman & Wakefield (a privately held commercial real estate services firm) has conducted this survey on Europe’s major business cities for the 20^th time (since 1990). The European Cities Monitor studied a number of key issues that cities need to address, how effectively each European city performs in terms of business and where improvements have seen to be made over the last year. This research has been performed independently for C & W by by TNS BMRB (a British Market Research Bureau) and 500 senior executives from leading European companies who gave their views on Europe's leading business cities. Besides, the firm also studied criteria such as quality of life, telecommunications, access to markets availability, quality of staff, cost of office space and transport links. The companies that contributed to this survey consider easy access to markets, customers or clients as the most important factor.

Over the last 20 years Europe´s business landscape has changed tremendously. Especially, since the emergence of Central and Eastern European economies and new consumer markets. Therefore, the European Cities Monitor contains a special analysis of the performance of European cities since 1990. One of the results of this study is that Warsaw and Prague are the biggest risers in their positions. The mayor of Warsaw, Hanna Gronkiewicz stated the following: “Warsaw is a financial and political centre of the country, which makes it a good and reliable partner in long-term investments. The rise in Cushman & Wakefield's ranking proves that the Polish capital is an investor-friendly city and has continued its dynamic growth. Warsaw appears resilient to the global crisis and successfully implements strategic investments, maintaining the investment budget at the record level.” Moreover, foreign investors interest in Poland has increased ever since the accession of the nation to the European Union (EU) in 2004.

In addition, the Spanish cities: Barcelona and Madrid also performed well: in 1990 they were ranked at 11 and 17, today they are at the 4^th and 6^th place. According to Rooger Cooke, head of the Spanish department of Crushman & Wakefield: “The rise of both Spanish cities in this year's rankings show that their significant rise over the 20 years of the study remains sustainable. Both cities are broad based business, culture and leisure destinations which combine to make very modern, attractive and cosmopolitan international cities.” For instance, Barcelona’s boosted its position due to their hosting of the Olympic Games.

Also, London has been ranked as the best business city in Europe. A position which has been held by the city ever since the commence of the survey in 1990. One reason could be its great number of international visitors.

European Research Group Cushman & Wakefield
43/45 Portman Square
W1A 3BG London
United Kingdom
Phone: + 44 (0)20 7935 5000
Fax: + 44 (0)20 7152 5360
www.cushmanwakefield.com
Elaine Rossall (European Research Group), tel. + 44 (0)20 7152 5319

Tim Carnegie (Business Consulting), tel. + 44 (0)20 7152 5547

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06/10/2009

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