SKOPJE RAISES TO 1ST PLACE AS THE MOST PROFITABLE EUROPEAN MEDIUM-SIZED CITY FOR INVESTMENT

SKOPJE RAISES TO 1ST PLACE AS THE MOST PROFITABLE EUROPEAN MEDIUM-SIZED CITY FOR INVESTMENT

Skopje was at the top of the TOP 10 medium-sized European cities according to the effectiveness, i.e. profitability for investment in the ranking made by the economic magazine FDI Intelligence, part of the renowned international economic journal, Financial Times. This is a jump from the fourth place where the Macedonian capital was in last year’s ranking. This year, the region of Skopje was also among the first ten small European regions that bear the epithet “cities and regions of the future” in terms of business climate and investment. Of the main cities in the neighborhood, Sofia is ranked 2nd in the profitability category, and Belgrade is ranked 8th and 9th respectively in the profitability and business climate categories.

The ranking made by this magazine every year ranks cities and regions from Europe according to attractiveness, favorable business climate as well as opportunities for foreign investors. The ranking is made according to the effect and performance in the following five subcategories: economic potential, human capital and lifestyle, connectivity, favorable business environment and cost-effectiveness. This year, the FDI and Financial Times team of experts made the choice among 330 cities and 41 regions.

Most of the foreign investors are in the technological industrial zones in Skopje. TIDZ with the new approach to attracting investments that it has implemented in the last three years has resulted in achieved investments of over 1 billion euros, which is equal to the total volume of investments from 2006 to 2019. In 2023, the agreement was signed for the largest foreign greenfield investment since the independence of the state, the Taiwanese giant “Yageo” with a contract worth 205 million euros.

The effect of foreign investments also brings direct benefits for citizens. The average salary in the Zones already in October 2023 exceeded MKD 40,000, which is twice as much compared to 19,000 in 2016, and the number of workers rose to 18,000, which is three times more compared to 6,000 in 2016.

More details at the link: https://www.fdiintelligence.com/content/News/european-cities-and-regions-of-the-future-2024-the-winners-83483