Mar 20th 2018 9:03am
Original Post: https://www.colliers.com/en-gb/emea/insights/market-news/2018/13-03-2018-cities-of-influence-report
London ranked as Europe’s most attractive city for businesses and employees for second year running according to Colliers International’s latest European Cities of Influence report, which reviews and ranks cities based on their occupier attractiveness, availability of talent, and quality of life factors alongside economic output and productivity; with some of our offices, Manchester and Liverpool featuring in the top 10. This is a significant achievement for London having now proved its resilience and magnetism as a global hub in the wake of the EU referendum. In terms of construction Minstrell Recruitment has seen a diverse spectrum of investors and occupiers identifying the city as the best place in which to conduct their business throughout the year with this number growing as we move closer towards H2.
David Hanrahan, Co-head, London Agency and Development at Colliers International says;
“ 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.”
The report demonstrates that the UK remains a highly desirable destination for capital and occupiers, largely driven by its magnetism as a centre of diverse high-quality service sector talent, which is in turn is helping to drive economic output and productivity. As a company we have seen these same trends echoed across our UK, with regional branches reporting strong figures from the beginning of the year.
“There are many cases where cities feature strongly in our index but, at present, do not perform as strongly as investment capital destinations. This includes some of the key regional UK markets. For the UK regionally, however, the ongoing policies of economic devolution and more labour market flexibility should see a renewed distribution of capital into these markets, product allowing.” Says Damian Harrington, Head of EMEA Research at Colliers International.