22 Sep 2023

Cork City second in Europe for investment credentials at Financial Times ‘Cities of the Future’ awards

Cork City is currently sitting pretty at number two in the European list of ‘Cities of the Future’, compiled by the Financial Times from more than 350 cities rated on their investment credentials. The prestigious awards, which are now open again for 2024 entry, consider six different categories key to a cities success in attracting Foreign Direct Investment (FDI). Cork has demonstrated world leading success for a number of decades at attracting and retaining FDI, by utilising the advantages which promote investment in Cork.

The categories for the Financial Times European Cities and Regions of the Future awards were:

  • Economic Potential
  • Business Friendliness
  • Connectivity
  • Human Capital
  • Lifestyle
  • Cost-Effectiveness

Cork was second overall in the Small European Cities of the Future awards and placed first for Economic Potential, a reflection of its efforts at fostering innovation, supporting business, producing high calibre talent and its significant potential to capitalise on the green transition with projects of scale. This is the second year in a row Cork came 1st for economic potential, representing a ringing endorsement by a respected independent body on the regions investment credentials.

COrk cities docklands is the largest regeneration project in ireland, highlighting economic potential

The city also placed 4th for business friendliness, making for a powerful endorsement of the work of the IDA and Enterprise Ireland, in tandem with Local Authorities and Chambers, for ensuring investor success.

Cities were grouped by population size into five categories: major, large, mid-sized, small, and micro cities. Each of the 350 was ranked based on data collected across five subcategories:

High among the regions many attractive elements is a highly qualified workforce, with over 10000 STEM graduates annually from Cork’s 2 major universities motivated and eager to take roles in engineering, technology, manufacturing, digital and pharmaceutical roles.  Over 200 overseas companies now employ 38,000 people in Cork, giants like Apple, Johnson and Johnson, Pfizer, Facebook, AMD and Biomarin, each benefitting from  a collaborative business environment.

Read the subsequent article in the Financial times here

Learn more about investing in Cork here –