Bucharest, 31st among top 34 best cities for business in EuropeUpdated: 08-10-2008 |

Bucharest has fallen three positions, on the 31st, in the ranking of the best 34 places for business in Europe, the Capital registering the biggest regresses on criteria related to rent level and availability of quality office space, according to a  Cushman & Wakefield survey. Last year, Bucharest occupied position 28, from 33 cities.

Behind Romania's capital as the preferred destination for business are important cities in Europe, respectively Moscow, on the 32nd position, Oslo, on the 33rd and Athens, on the 34th, reveals the European Cities Monitor survey conducted by real estate consultancy company Cushman & Wakefield.

Prices the best three destinations for business remained the same as last year, namely London, Paris and Frankfurt.

European Cities Monitor study was conducted by interviewing the directors responsible for finding new business destinations, from 500 top European companies.

The ranking was made having in view several criteria, namely the quality of transport, telecommunications, the access to other markets, the availability and cost of labour, the cost of office space and quality of life.

The Cushman & Wakefield Specialists analysed the factors considered important by companies when they decide to enter a market. Thus, on the first positions among the top criteria were mentioned easy access to other markets, indicated by 59% of respondents, and the availability of qualified labour force, considered essential by 60% of the directors interviewed.

Also, the quality of the telecommunications system is an important factor taken into account by companies.

Bucharest is well situated in terms of the costs that companies have with labour, occupying, by this criterion ranks, the second place in Europe, but a one position down, as compared to last year, after Warsaw.

However there is also a less favourable aspect, namely the qualification that Bucharest employees have. In this chapter, the Capital ranks 32nd, while Budapest is situated on the 21, Prague on 24, and Warsaw on 25.

Also, foreign investors are not satisfied by the foreign language proficiency level of the employees in Bucharest, which places the capital on the 28th position, a situation worse than the situation in Budapest - the 21st, Warsaw - 20 and Prague  - 21.

Curierul National