Leipzig awarded 3rd place in the ranking of the fDi Magazine’s 10 largest European cities of the future
The eighth edition of the leading ranking “European Cities and Regions of the Future 2022/23” by fDi Magazine, a product of the Financial Times, identified the most promising investment locations throughout Europe. Leipzig was ranked third in the category “FDI Strategy Large European Cities of the Future”. The ranking reflects the economic, financial and business strengths of cities and regions across Europe. No less than 356 cities were evaluated and analysed according to various criteria such as economic potential, lifestyle or cost-efficiency. fDi Intelligence offers the world’s most comprehensive range of services related to foreign direct investment.
The award was presented at the leading real estate trade fair MIPIM in Cannes in the south of France, which was held again this year after a two-year break due to Corona. Invest Region Leipzig GmbH (IRL), the settlement and acquisition agency for the Leipzig economic region presented the location with various projects at the exhibition from 14-18 March 2022. Leipzig received the award after an application process outlining the concept and strategy of the “region model”. In terms of content, the award honoured the successful cooperation between the Leipzig metropolitan area and the neighbouring districts of Leipzig and North Saxony as well as the Leipzig Chamber of Commerce and Industry in the form of a joint business development company Invest Region Leipzig. This approach makes it possible to strategically attract and support investments to the region, from which all partners benefit both directly and indirectly.
The Berlin Institute for Population and Development predicts that Leipzig’s population will increase by 16 per cent by 2035, surpassing any other city in Germany. Major German and international companies are choosing Leipzig and the region as the location for their new branches. In the last ten years, more than 500 technology companies have settled in Leipzig and the city is now home to 250 start-ups.
While foreign companies’ interest in Leipzig is growing, large German companies are also increasing their presence in the city. Skincare company Beiersdorf AG, maker of the global brand NIVEA, will open a new cosmetics production facility in Leipzig in 2022 and a new distribution centre in 2025. Together with the recent relocations of Amazon Air, BMW, battery systems manufacturer Dräxlmaier and the Porsche EV production plant to be built, this will bring the city of Leipzig €10 billion in investment and the creation of 20,000 new jobs.
For companies planning to establish a branch in Germany, the ranking “European Cities and Regions of the Future 2022/23” provides additional validation for the Leipzig region when evaluating a location for foreign direct investment.