Gothenburg ranks highly in investment destination rankings

Gothenburg was among the top large European cities in three categories, when the Financial Times’ fDi Intelligence named this year’s most promising investment destinations. The city was a climber in the FDI strategy category improving to 5th and maintained its place in the top 4 for human capital and lifestyle.

These were some of the findings in the latest European Cities and Regions of the Future report.

“This is great news. We are very happy to get the recognition from a reputable source, both in terms of what the city offers but also how we work with promoting it,” says Marcus Scoliège, head of foreign direct investment at Business Region Göteborg, Gothenburg’s investment promotion agency.

In total, fDi Intelligence assessed 330 European cities and 141 regions across several categories, including economic potential, human capital and lifestyle, connectivity, business friendliness and FDI strategy.

Gothenburg was in the "large cities" category, which includes cities with a population of over 500,000 people, and at least one million people in the region.

An attractive location for talent

When fDi Intelligence analyses a city’s human capital and lifestyle, apart from education level it considers many factors, such as the number of students, the number of top ranked universities, skillset of graduates, social progress and life expectancy. Gothenburg was ranked 4th.

“Gothenburg’s population is well-educated and relatively young. We have two strong universities, world-class companies and several strong clusters. Our city is also progressive and offers an attractive lifestyle. All of this makes it appealing for talent, both within Sweden and abroad,” says Marcus Scoliège.

He explains that the knowledge and capabilities found in the region, as well as the region’s capacity to attract top talent, are important reasons why global companies are investing heavily in Gothenburg, particularly within mobility, life science, ICT and cleantech. The investments the city is seeing in new innovation destinations, and a battery gigafactory, are a few examples.

A robust strategy in place for attracting international investment

The fDi Intelligence also recognized us at Business Region Göteborg for our strategy for attracting, retaining and expanding foreign investment. Gothenburg was ranked 5th among large European cities, improving from 8th place in last year’s report.

The judges awarded marks on everything from aftercare initiatives and promotion of sustainability to triple-helix initiatives that foster innovation and entrepreneurship.

“We work with our strategy continually and adjust based on, for example, the strengths and needs of our business environment, new technologies, trends etc. Overall, we focus on attracting investments that strengthen Gothenburg’s long-term growth and competitiveness,” says Marcus Scoliège.

He explains that client care and teamwork are key ingredients.

“We place a lot of emphasis on understanding client needs. We have developed a clear process, and have the experience, expertise and networks to deliver tailor-made solutions for our clients. This gives them a smooth and effective establishment process and helps ensure they build a sustainable business in our region.”

A city with strong economic potential

In the fDi Intelligence’s report, Gothenburg was again ranked 10th in the category Economic potential. This evaluates things like population growth, economic growth, inward investment in R&D and advanced manufacturing, and number of patents.

Gothenburg is an important driver of Swedish growth. Since 2010 Gothenburg’s labour market region has grown by over 140,000 residents and 102,000 employees. At the same time, the Gothenburg region’s economic growth has been among the highest of European metropolitan regions.

“A driver for this is our combination of advanced manufacturing and a growing knowledge-intensive services sector. In recent years, we have also seen large investments in infrastructure and urban development. In addition, business R&D expenditure has increased significantly. Gothenburg’s county now has the highest business R&D expenditure in Sweden, which says a lot, as Sweden is one of the most R&D intensive countries in the world,” says Marcus Scoliège.

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