The cities with the most potential have been selected
As it does every year, the fDi Intelligence team of the Financial Times' investment experts has assessed and published the economic, financial and business potential of European cities and regions. The elections aimed to identify the most promising investment destinations, the cities with the best human resources, the most business-friendly legislative framework and the investment strategy. In addition, the jury also selected the most promising European city after identifying the winners in each category.
Vilnius secured two prizes in the individual categories – 2nd place in Human Capital and Lifestyle and 3rd place in Economic Potential. In the categories of investment attraction strategy and business-friendly environment, the capital came 5th and 6th, respectively.
Vilnius Mayor Valdas Benkunskas says that the capital's high annual rankings result from the joint work of sustainable business and the city's institutions.
„Despite Europe's geopolitical and economic challenges, Vilnius continues to enjoy rapid economic development and remains attractive to foreign investors. We can see that the capital's policies, talent pipeline, convenient infrastructure, etc., are attracting foreign investment and encouraging new business start-ups. We are confident that Vilnius will continue to be among the most promising international cities“, says Benkunskas.
Vilnius ranks third in the overall category of medium-sized cities of the future. Wrocław, the largest city in western Poland, came first, while Zurich, the largest city in Switzerland, came second.
„I am delighted that Vilnius is being recognised and that we are among the most promising medium-sized cities in Europe for the third time in a row. The capital's second place in Human Capital and Lifestyle only shows that Vilnius is full of talented people driving the city forward. The category includes 18 criteria, proving that Vilnius is not inferior to Western European cities,“ says Dovilė Aleksandravičienė, Head of Go Vilnius.
Growth of the start-up ecosystem
The city's start-ups are attracting more and more employees from both Lithuania and abroad every year, and the overall growth of the city's high-tech sectors is reflected in the latest statistics. According to Vilnius TechFusion, in 2023, the city's start-ups alone will account for
91% of the value of all Lithuanian start-ups, and the total value of the ecosystem is as high as EUR 12.4 billion. According to the Head of Go Vilnius, the growth trend is reflected in various areas of the high-tech industry.
„Vilnius is a city of high innovation, where many high value-added products and services are created and exported. I would say that the participants in the Vilnius TechFusion ecosystem are among the most important factors shaping the economic face of the city. The third place in the Economic Potential category of the awards evidences this. We were ahead of cities such as Wrocław, Bristol, Utrecht, Riga, and Tallinn, which proves that we can keep pace with Western Europe,“ says Aleksandravičienė.
The fDi Intelligence Awards Ceremony, which will honour the top performing cities, will take place in March at the world's largest real estate exhibition, MIPIM, in Cannes, France.
