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A report published by Cushman & Wakefield shows that Birmingham has fallen to 18th place on the list of prominent European cities for business. The Cushman & Wakefield European Cities Monitor is a report which is compiled using the views of 500 top executives from some of the largest companies in Europe. London still occupies the number one spot, according to the views of the executives.

There were several factors which caused Birmingham to drop down the list, behind Manchester which is in 16th place, after falling from 12th position. The cost and availability of staff, plus access to markets are just some of the factors considered when making decisions. According to the researchers, one of the reasons why Birmingham dropped down the list is that only 26 percent knew the city well, in contrast to London which is well known by 81 percent of the executives.

The cost of employees and improved transport links have been improved, which helped Birmingham and will further improve in the near future with Birmingham airport’s extended runway and renovated New Street station. The head of the Cushman & Wakefield Birmingham office, Scott Rutherford said that transport links are imperative, and a main factor for a business location.

Birmingham climbed into the top ten of business cities for the availability and monetary value of office space, although more people wanted to plan locations in London than Birmingham, with 27 favouring London and one in Birmingham. However, another survey placed Birmingham as second place among UK cities when it comes to top universities.

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Gary Fields

Content Writer working alongside our expert accountants to bring you the latest Tax and Accounting news.

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