Cork City placed 5th in Europe for economic potential

24th June 2020

Cork City has been hailed the fifth overall best city in Europe for economic potential, according to the Financial Times FDI European Cities and Regions of Future 2020/2021 league.

The influential publisher ranked Cork’s economic potential higher than a range of top tier European cities including Amsterdam, Oslo and Frankfurt. 

75 European cities were ranked according to Economic Potential, Innovation & Attractiveness, FDI Performance, Cost Effectiveness and Start-up Environment, as well as by a sixth category around broad FDI Strategy. 

Cork is the fastest growing city in Ireland and it is projected that the city’s population will continue to grow over the next 20 years, reaching over 350,000 by 2040.   

The Cork Docklands area is set to provide 179 hectares for business regeneration with employment projections of 30,000 jobs and 30,000 residents.

Welcoming the accolade, Lord Mayor of Cork, Cllr. Joe Kavanagh said: “We are delighted to be ranked the fifth overall best city in Europe for economic potential. Despite the enormous challenges posed by Covid-19, Cork remains on track to retain its pool of FDI and expand its economic base in 2020. This confidence in our collective futures for Cork to thrive is clear in the sustained growth evident with the large numbers of people from overseas choosing Cork City as a place to live and work.”

Cork City Council Chief Executive, Ann Doherty said: “We are delighted to see Cork being ranked so highly as a location for investment and economic potential. Cork City Council has worked hard with IDA Ireland, UCC, MTU and Enterprise Ireland to make Cork a global investment capital where businesses are enabled to flourish and expand. Because we are an agile, compact city each investor who comes to Cork City can enjoy focused attention from the agencies to support the needs of business.”

Link to fDi website and rankings here: www.fdiintelligence.com