Moscow showed the best dynamics in the ranking of the most promising centres of economic growth in Europe

The ranking compares the 300 European metropolitan areas with the greatest growth prospects.

Moscow moved up 48 positions in the ranking of European cities with the best prospects for economic growth - the European Regional Economic Growth Index (E-REGI) by LaSalle. The capital took 49th place in it, said Vladimir Yefimov, Deputy Mayor of Moscow for Economic Policy and Property and Land Relations.

“Moscow showed the maximum dynamics in the rating compared to other participants. Thus, Bucharest climbed 40 points in E-REGI 2019, Liverpool - 20 points, Glasgow and Istanbul - 18,” he said.

The top 10 of the 20th anniversary ranking includes London, Paris, Istanbul, Stockholm, Munich, Oslo, Luxembourg, Copenhagen, Dublin and Madrid. Rounding out the hundreds of European cities with the highest potential for economic growth are Genoa, St. Petersburg, Naples and Palermo.

E-REGI is compiled from a study of 300 European agglomerations with the best prospects for economic growth. The final study included one hundred metropolitan areas, including all European capitals. The rating is used by international companies in the formation of investment strategies in the real estate sector.

“The improvement in Moscow's position is associated with the growth of the capital's economy and the development of the labor market. The growth in the number of specialists employed in various industries leads to an increase in employers' demand for commercial real estate, which, in turn, increases the attractiveness of the Moscow real estate market for investors,” explained Denis Tikhonov, head of the Department for Economic Policy and City Development. 

The cities in the ranking are evaluated according to 14 indicators. Among them are the GDP dynamics, R&D expenditure as % GDP, venture capital investments, population density, service sector employment, human capital development, tertiary education attainment level, political stability and others.