Cork City in top spot for economic potential in the Financial Times European Cities and Regions of the Future awards
24/02/2023
The results of the Financial Times European Cities and Regions of the Future awards 2023 were recently published, and for the 2nd year in a row, Cork City was voted as the no.1 small European city for Economic Potential, 2nd Overall and 4th for Business Friendliness.
The Financial Times European Cities and Regions of the Future awards benchmarked locations for their attractiveness to Foreign Direct Investment (FDI). As many as 356 cities were assessed and grouped by population size into five: major, large, mid-sized, small, and micro cities. They were then ranked based on data collected across five subcategories: Economic Potential, Business Friendliness, Connectivity, Human Capital and Lifestyle, And Cost-Effectiveness.
In their assessment, the Financial Times referenced the opening of the recent container terminal in the Port of Cork, the future regeneration of the Cork City Docklands, and the projected population increase saying that “All these developments bode well for foreign investors, of which Cork has no shortage”.
Lord Mayor of Cork, Cllr Deirdre Forde said that “I am delighted to welcome this news. This international recognition adds further confidence to the already present local and national confidence in Cork City’s future. Cork City has experienced a great level of investment and economic growth in recent times resulting in a higher quality of life for our citizens. Cork City Council and the people of Cork will continue to work together to ensure a bright future for our City”.
Cork City Council Chief Executive, Ann Doherty said that “I echo the sentiment and comments of the Lord Mayor. For the second year in a row, Cork City has been recognised as the no.1 small European city for Economic Potential and 2nd overall across various categories in the fDi Intelligence European Cities and Regions of the Future awards. This news is greatly welcomed and is proof that the work and collaboration between Cork City Council and all the key Cork City Stakeholders is paying dividends. Cork City is poised to take its place as one of the premier small European Cities to live, work and invest in.”