A rethink of pan-European investments and activities is looming Cities compete for foreign investment, more than ever The post-referendum UK attractiveness survey found that cities • Madrid completes the top five, and is a destination to watch are taking steps to retain or attract foreign investment with their for the future. own policies, sometimes linked to, and sometimes distinct from the • Amsterdam, Munich, Dublin, Brussels and Barcelona, in national regulatory and tax grids. particular, were mentioned as potential destinations. • London remains Europe’s most attractive city, aided by its All these cities “speak tech” and have developed lively start- business ecosystem, cosmopolitan and capable workforce, and up clusters and ecosystems. Increasingly, Europe is becoming high quality of life. a continent of regions and cities with sound infrastructure, • Paris has narrowed the gap, as enthusiasm for London has cosmopolitan talent pools, 21st-century lifestyles and English reduced, and as investors lean more toward Europe’s other truly as a common language. 20 “global city ,” with Asian investors showing particular interest. • Frankfurt and Berlin divide the votes of those favoring Germany, with the former particularly attractive to financial services companies and the latter to tech companies. Top five of the most attractive European cities for foreign investment 54% 48% 21% 21% 11% London Paris Frankfurt Berlin Madrid Source: EY’s UK attractiveness survey, Autumn 2016 (sample size 259). 20 “Sorry, London: New York Is the World’s Most Economically Powerful City,” City Lab website, http://www.citylab.com/work/2015/03/sorry-london-new-york-is-the-worlds-most-economically- powerful-city/386315/, accessed 12 January 2017 18 EY’s European attractiveness survey January 2017