For the first time ever, Vilnius has entered the global Financial Times fDi Intelligence investment experts’ list of the most attractive cities for foreign investment. The Lithuanian capital ranked seventh among the world’s medium-sized cities of the future, joining Zurich, Belfast, Luxembourg, Geneva, Edinburgh and Aberdeen.
fDi Magazine is internationally renowned as a barometer of the attractiveness of cities and regions for investment. Published every second year, the magazine’s global ratings are an international benchmark for investors to compare competing locations worldwide.
In alternating years, the magazine assesses the potential of cities across Europe and the world. Previously, Vilnius has only appeared in its ranking of European cities.
“The fact that Vilnius is the only city in the region to be rated by some of the world’s leading experts as an attractive city for global investors in many categories is a huge achievement,” says Vilnius City Mayor Remigijus Šimašius. “Vilnius has made a historic leap: we now rank among the strongest cities in Europe. We’ve reached a new level – and it’s no coincidence. We’re working tirelessly to make the city as welcoming as possible to foreign businesses and talent, paying special attention to strong sectors in Vilnius including Fintech. Thanks to this and cooperation between institutions, major global companies are now establishing themselves in the capital.”
Šimašius says the ranking adds weight to discussions, helping to put the city in the sights of more investors. According to the Mayor, it will further strengthen Vilnius’ position in building an attractive, vibrant and growing city that attracts foreign investment.
Vilnius came 7th overall in the magazine’s Top 10 medium-sized cities of the future, ranking in all five categories. The city ranked 6th in the world for business-friendliness – overtaking Luxembourg to rank alongside Belfast, Aberdeen, Edinburgh, Zurich and Geneva. fDi Intelligence experts rated the city 7th in the Transport and Communications Infrastructure category. The Lithuanian capital ranked second in the Top 10 for cost-effectiveness, and also entered the global Top 10 for economic potential, human resources and quality of life.
“In Vilnius, we pay strategic attention to our Fintech, IT, laser physics and life sciences industries. It’s great to see our efforts recognised internationally. We’re striving to make Vilnius the most welcoming environment for foreign businesses and talent – and we’re delighted that this year’s digital Relocation Guide tool and ‘Welcome to Vilnius’ seminars are meeting the needs of investors,” says Inga Romanovskienė, Director of Vilnius City Tourism and Business Development Agency Go Vilnius.
This year, the Financial Times fDi Intelligence division also rated the strategies of 112 cities worldwide to attract investment. Vilnius was singled out for its consistent work in developing its Fintech industry. The Lithuanian capital merited particular mention for the special attention it gives to integrating entrepreneurs and talent from abroad.