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“Alternatively, occupiers focused on a digitally sophisticated
workforce will be more tempted by Stockholm and Prague than Barcelona or Brussels. “London may be one of the most expensive cities from
in the capital due to political uncertainty and the perceived threat to business of Brexit”. The global real-estate company’s report is based on an
index in which 20 major cities in Europe are ranked on factors based on:
• The size and orientation of economic output and the workforce
• The capacity and skillset of the latent and emerging talent pool
• The cost and affordability of the city – as a place to live and save, and in terms of the cost of labour and the total cost of office occupation
• The country risk associated with the market • The inherent risk and challenges presented by labour laws
London and Paris top this list, with the smaller markets of Manchester, Stockholm and Dublin in their wake.
Impact of Brexit Damian Harrington, director and head of EMEA research at Colliers International, says, “With the recent announcement by the UK Prime Minister that the UK will be seeking a clean exit from the EU single market, and the upcoming elections in the Netherlands, France and Germany, there is clearly a lot of country risk impacting both the UK and the European Union. “Some occupiers will be more focused or interested in one
component over another, and thus the overall weightings and scores could change according to these preferences. For example, occupiers driven by cost may see the southern European and CEE [central and eastern Europe] markets as more attractive than their northern and western European counterparts.
a real-estate standpoint, but, when taking all factors into consideration, and the ability of the city to reinvent and evolve, it is superior to all other major European cities in this study. “Recent announcements at the end of 2016 by global
tech giants, including Apple, Google, Facebook and IBM, reaffirmed their commitment to the future of the London and UK economies. With Trump’s latest immigration policy, this could be even more reason for talent to move to London. The ability to hold on to its workforce and continue developing its talent base will be critical to ensure the UK’s capital remains a primary attractor of corporate activity.” And yet, when all is said and done – and all the data from all
the surveys have been digested – it is, perhaps, worth ref lecting on these words of travel writer Bill Bryson: “I can’t think of anything that excites a greater sense of childlike wonder than to be in a country where you are ignorant of almost everything.”
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