Last year, Bucharest ranked second-to-last, with declines on most of the criteria used in ranking.
“Bucharest offers high-class office buildings with very attractive financial terms. These are important factors for companies looking to lease new premises for their business, or relocate their current operations. Recently, Bucharest’s infrastructure has been improved and there are plans for further development. This will improve accessibility for the business centers year by year. The reduced costs, quality and availability for office space make Bucharest more and more attractive for companies to develop their businesses in,” said Andrei Birsan, Head of Office Agency, Cushman & Wakefield in Romania
London, Paris and Frankfurt remain Europe’s top three cities for business, according to the European Cities Monitor.
The 36 cities are ranked using criteria such as quality of life, access to markets, availability and quality of staff, cost of office space, telecommunications and transport links.
Bucharest made progress on most criteria, except telecommunications and the quality of life for staff.
In terms of market accessibility, Bucharest climbed 11 positions, to 25, while in terms of transport links it now ranks 29th, as opposed to 36th in 2010 edition.
Office space costs brought Bucharest the 4th position, compared to 21 last year. In terms of office space availability, Bucharest now ranks second, outranked solely by Berlin. In 2010, Bucharest ranked 24th by this criterion.
In terms of labor force costs, Bucharest ranks first, while in terms of business climate provided by authorities it ranks 4th.