Manchester retains "second city" spot despite rankings fall

MANCHESTER has retained its place as the UK’s ‘second city’ in terms of business competitiveness, but has slipped down a Europe-wide table of rankings.

The city has dropped four places in Cushman & Wakefield’s annual European Cities Monitor report to 16th, having been overtaken by Stockholm, Geneva, Zurich and Hamburg.

However, it remains two places above Birmingham which finished 18th in the rankings, and 12 places above Leeds, which dropped five places to 28th.

The survey is based on responses from more than 500 companies from nine countries. Although Manchester’s position slipped in some categories, including awareness as a business location and the business climate created by government, it rose four places in terms of languages spoken in the city and received positive ratings for its quality of life and internal transport links.

Tony Bray, Head of Cushman & Wakefield’s Manchester office, said: “Against the backdrop of the harsh economic climate, Manchester’s claim to be considered at the top table of European cities is justified, particularly given the city’s reputation for having access to a skilled, multi-lingual workforce and a quality living environment.”

He added: “When you consider that the majority of top ten cities were capital cities, Manchester has fared incredibly well and we should be proud of our achievements.  

“Our additional research on investment levels shows a significant increase in activity on the year to date, both from UK institutional investors and property companies and interestingly from international investors, such as Europa Capital, who see the attraction of the city.

“No other UK city can boast such activity and as we continue to actively improve our offering, it serves to reinforce our belief that Manchester is a good place to do business.”

Tim Newns, chief executive of MIDAS, said: “It is clear that commercially, Manchester is now firmly within the elite group of European cities, the majority of which are capital cities such as Geneva and Stockholm.

“The city has continued to improve its profile in areas such as access to language speakers; quality of life and green credentials; and internal transport links.

“The only area where Manchester’s rank has suffered somewhat is the availability of office space and in this case, due to an almost record year for office uptake last year, Manchester has become a victim of its own success.”

Mike Emmerich, chief executive of New Economy, said that it was disappointing that the city’s rating on competitiveness had been hampered by things beyond its control such as the UK’s tax policy.

“New Economy is committed to the ongoing development of a competitive and attractive market offer, working in partnership with the Government to make Manchester a location of choice.

“In the last week, we have seen the BBC’s announcement of a further major move of staff to Media City and the development of a £50m Graphene hub: testament to the strength of Manchester’s offer.”