EDINBURGH has been ranked in ninth position in a new index of Europe’s most dynamic cities.
The ranking, compiled by property firm Savills, puts Scotland’s capital city ahead of major economic hubs such as Madrid, Barcelona, Brussels, Milan, Istanbul and Frankfurt.
Edinburgh is also the UK’s leading city, according to the index, which judged 130 European cities on 60 indicators over six categories – innovation, inspiration, inclusion, interconnection, investment and infrastructure. Oxford came in 14th position, followed by Bristol (25th), Manchester (27th) and Birmingham (30th).
Kiran Patel, chief investment officer at Savills, said: “The report shows size isn’t everything: as some ‘super-cities’ such as London and Paris are consolidating their already dominant positions, smaller cities such as Edinburgh are well set to grow in influence, and are likely to become increasingly attractive locations for property investment.”
“Europe’s most dynamic cities are future-proofing themselves by creating environments that encourage the growth of a ‘knowledge economy,’ something we are seeing increasing evidence of from Edinburgh.”
The index ranks Edinburgh fourth in Europe for inclusion and fifth for inspiration, with Savills noting its high performance in these areas is supported by the contribution of the University of Edinburgh.
It highlighted Edinburgh’s expertise in the fields of medicine, Scots law, literature, science and engineering.
Hugh Rutherford, chairman at Edinburgh Business Forum, said: “It is clear, notwithstanding the size of Edinburgh, that its scale and influence in the global world is substantial in a number of key areas.
“Savills IM’s report highlights Edinburgh’s strong position relative to other UK and global cities, and of the work currently being undertaken in partnership across business, education and the public sector.”
According to Savills, Europe’s top-performing cities have ambitious infrastructure investments, high-quality universities and innovative businesses which draw on a global talent pool, helped by what it terms strong cultural amenities.
The property firm said in its report that all sections of the commercial property sector will benefit from these characteristics in the long-term, noting, for example, that rising employment will help support the office sector, wealth creation and boost consumer expenditure.
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