Another accolade for capital
Edinburgh most influential small city in Europe
The reputation of Edinburgh continues to grow after the city landed another prestigious accolade
Edinburgh has landed another prestigious accolade after being named the most influential small city in Europe in a new report.
Scotland’s capital has been ranked first among its peers by Colliers International’s latest European Cities of Influence survey, the news coming hard on the heels of the announcement that it also topped Colliers International’s UK Hotels Market Index, which ranks ‘hot spots’ for hotel development and acquisition across the country.
The Cities of Influence report reviews and ranks cities based on their occupier attractiveness, availability of talent, and quality of life factors, alongside economic output and productivity. Edinburgh was the highest ranking UK city in terms of ‘employee aspirational’ factors.
The Scottish capital was 7th overall and the highest placed of those with a population catchment below two million, while Glasgow placed 24th overall.
Douglas McPhail, head of Colliers International in Scotland, said: “Scoring highly for its economic output and the availability, talent and aspirations of its workforce, it’s not surprising that Edinburgh has outperformed most commercial property markets in recent years.
“It is significant that the positions in our Cities of Influence index this year mirror investment volumes over the course of 2017, suggesting that investor activity is becoming closer aligned to broader, long-term drivers of occupational growth.
“In Edinburgh in particular, with its exceptionally strong fundamentals, investment activity is expected to increase further going forward.”
This year’s new extended version of the report looked at 50 major European economic hubs providing a broad geographic coverage of European markets that are of global, regional and national importance.
Mr McPhail added: “When compared to the German Big 7, and the major Nordic capitals, most UK cities look significantly under-invested.
“Given its occupier strength and growth potential, Glasgow should see investment growth too, although it struggles to compete with Edinburgh on aspirational factors.”
The 2018 index ranked London as the most attractive city in Europe for a second year running, with Paris, Madrid, Moscow and Birmingham making up the rest of the top five.