Best Cities 2010

We decided to audit Europe’s cities to come up with the best places to work rest and play in 2009.  Back then major trading centres like London and Frankfurt were feeling battered and bruised from the recent market turbulence.  The high earners who once fuelled the economy were looking at unemployment rather than unlimited bonuses. 

This year, things have settled down a little.  Sure, there have been lurches and upheavals from sovereign debt, but the horizon is looking a little less rocky.  We don’t know what’s coming, but we’ve more of an idea of where we’re at.

This year, we’ve expanded the criteria to include cities around the world.  New York is riding high again, but it’s for the city’s sheer enthusiasm and involvement that makes it impossible to ignore.  Whether it be hedge funds, fashion, food, or contemporary art – NYC is in on the act.

Paris is another hugely popular city – but one that was in danger of becoming a parody of itself in recent years.  President Sarkozy, who has clearly looked on in envy as New York and London evolved without losing their identity, has begun to implement changes into his own capital city.
 
There’s a saying in Britain – the grass is always greener on the other side.  I’m not sure how many languages this idiom translates into, so I’ll spell it out: from our HQ in London, we’re always looking over the fence in admiration of other cities.  The publisher would dearly love to relocate there, someone in the same profession in Barcelona would probably choke on their tapas at the very thought. 

When you’re involved in the hurly burly of everyday life, its easy to forget what you’ve already got.  But hey, there’s nothing wrong with imagination; it’s what the greatest ideas are built on.

Here at the New European Economy, we’re never satisfied either – and why should we be?  Life’s too short for complacency – and besides, we’re huge believers in improvement.  Sustainable business, secure surroundings, and affordability seem far more conducive to the ambience of trade than steroid-addled profits.  Indeed, at a time when many businesses are struggling for survival, there’s never been a better time to look over the fence and observe the green shoots appearing in another city.

Right now, I’m feeling Stockholm’s green business environment.  Later, if I’m thinking about my kids getting safely home from school, chances are it will be Copenhagen that’s occupying my mind.  But the whole point of this exercise is to open our minds and learn from each other.  If we can’t up sticks and move, we can celebrate the differences and emulate them.  Sample the good and replace the bad and truly bring regeneration to the soul of our cities.

Our selections were made on the tangible qualities – the ease of buying a coffee without being mown down by a mugger or a truck matters much more than paper profits on property, and cut much deeper on a spiritual level than earnings.  We looked at cutting edge design, culture, transport systems, restaurants, environmental credentials, business and affordability.  Factors ranging from architecture, to climate, to the prospects of walking to a park with a pram – the essentials of improved urban life – finalised our choices. 

Of course, the results will surprise some, but where credentials like crime and liveability matter, London and Moscow both failed to make it onto our top 20 long list.  Munich, Copenhagen, and Barcelona were all strong contenders, but failed to make the top five.  The finalists all have new developments in place designed to attract investment which will not only boost local fortunes but improve on the things that made the city interesting in the first place. 

After all, truly great cities should never stand still…

1. Zurich

The popular image of Switzerland is the three Ps: purity, punctuality, precision - and for the most part its a pretty accurate view. 

However, the abiding chocolate-box image often paints this mountainous land-locked nation as a tad boring – which is wholly unfair.  Zurich is the city where James Joyce wrote Ulysses, for heaven’s sake.

Switzerland offers a lifestyle that most of us dream of.  It has a reputation for high-quality and efficient healthcare, education is among the best in the world, and there's an excellent train system that weaves together the entire the country and public transport within the cities is as reliable as a Rolex watch.

It remains deservedly popular not only with the ten million tourists who visit every year but with the hundreds of thousands of non-Swiss who make it their home.

With a population of 370,000, Zürich is the largest city in Switzerland – and one of Europe's most dynamic and attractive cities.  Retaining much of its 19th-century charm, Zurich is situated on the northern shore of Lake Zurich in the heart of the country.  The city is both large enough to offer all the amenities you’d expect from a metropolis, but small enough to explore in a weekend.

The city has 50 museums, an opera house that has staged more premieres than any other, 18 sandy beaches on the river and lake, mountain walks within a 15 minute journey, and the highest density of pavement cafés in the world.  Zurich’s café society largely inhabits the labyrinth of lanes in the medieval old town – aka Niederdorf - on the east bank of the River Limmat.

• Population:  383,000
• Air connections:  57 intercontinental flights
• Quality of life index – 8/10  The world’s style metropolis is a hub for fashion, art, and culture.  Life inside Paris is the urban ideal, but less so for the majority who live in the suburbs.  Central Paris is nigh on perfect now and can only get better.
• Business landscape – 9/10  Zürich is a leading financial centre and global city.  Greater Zürich is Switzerland's economic centre and home to a vast number of international companies.  The service industry employs nearly four fifths of workers.
• Education – 8/10  With over 25,000 students, Zurich University is the biggest in Switzerland.  It specialises in arts, economics, law, medicine, science, and theology
• Connections – 6/10  Well catered for by trains, which operate on schedule (of course).  Commendable road connections, too.
• New developments – 7/10   Targeting younger urban residents with a network of new developments close to the airport.
• Weather – 7/10 :  Average high: July, 23C Average low: -2.8C

2. Paris

There is no arguing with Paris.  Quite literally.  Its iconic beauty is immune to criticism. 

Its cultural contribution – whether culinary, artistic, or architectural – is beyond reproach.  With world cities like New York, London, and Tokyo you have to acquire a love, but Paris is different; the city’s charm cannot be denied – it’s love at first sight.

President Sarkozy’s grand scheme for a ‘greater Paris’ has extremely solid foundations to work on.  The cafes are already iconic and their style and ambience is still the blueprint for coffee shops around the globe.  The warren like streets that knit the city’s fabric together are picture postcard perfect, as are the grand boulevards that connect them.  Obviously, the Périphérique is nothing to look at, but nobody could deny its functionality.  Sarkozy’s aim is to reconnect the city with the suburbs – the disenfranchised ‘banlieue’.

Central Paris is populated with 2 millions inhabitants living within the Périphérique, while the majority of the Parisian workforce (around 6 million) live in the suburbs in what forms a patchwork of towns of different sizes and whose policies lack coordination.

Future aims for the Paris are a faster rail connection linking Gar de l’Est with Charles de Gaul airport.  Costing EUR 35 million, the rail link will be driverless and operate on a 24 hour basis.  The aim is to consolidate Paris on the London model of dozens of boroughs and former villages making up one cohesive whole. 

Sarkozy’s biggest fear is that Paris is in danger of becoming a victim of itself – a historical shrine destined to remain a city of the past.  He fears a Paris living on its looks symbolising luxury and living at slower pace, while the rest of the world would argue that’s exactly what they love about the place.

• Population:  2.2 million; greater metro region 12 million
• Air connections:  315 intercontinental flights
• Quality of life index – 8/10  The world’s style metropolis is a hub for fashion, art, and culture.  Life inside Paris is the urban ideal, but less so for the majority who live in the suburbs.  Central Paris is nigh on perfect now and can only get better.
• Business landscape – 7/10  The city is tailor made for fashion, and there’s no shortage of blue chip companies fighting to relocate their HQs here.  And at the market rents included below, who can blame them?
• Education – 8/10  Paris has excellent schools and colleges.  Names like Lycee and Sorbonne are bywords for excellence.
• Connections – 9/10  The city is a major rail hub, with trains leaving constantly in all directions and even under the English Channel to London.  Commendable road connections, too.
• New developments – 8/10   The high speed metro line linking Paris with its suburbs is due for completion in 2023.
• Weather – 7/10  Average high: July, 19C Average low: 5C
• Stay- Newly refurbished Radisson Blu Ambassador Hotel Paris Opera 16, boulevard Haussmann 75009 PARIS

3. New York

A metropolis teeming with 8 million citizens, New York City is the largest city in the United States – it’s also the world’s ninth largest economy.

Spread across 309 square miles of skyscrapers, canyon-like streets, and surprisingly low-rise outer districts, the Big Apple occupies an area roughly half that of London - with an extra million people to sapre.  Consequently, the city has something of a pressure-cooker reputation.

Of course, the mythical brusqueness of a native New Yorker is something of a misnomer.  The city is just too diverse to be pinned down by stereotyping.  More than 200 languages and dialects are spoken here, and 37% of New Yorkers are foreign born – hailing from over 138 different countries.
 
The city has mellowed immensely in the last two decades, the crime rate has fallen well below the US average and has plummeted from nearly 10,000 crimes for 100,000 people to under 4,000.

New York is ever-evolving, there’s a seemingly endless procession of fantastic bars, restaurants, and elegant hotels.  Suffice to say that at some point in their careers, most business travellers are bound to end up in New York.  But even if your business dealings are rooted to your immediate environs, New York is an unbeatable destination for meetings and incentives.

If you're thinking of targeting new markets, it's worth remembering that fifty per cent of the North American population and its income is situated within a 750-mile radius of central New York. This constitutes one of the largest and richest consumer and business markets in the world.

Now, that ought to be enough facts to convince the finance department…

• Population: City, 8.4 million; metro, 19 million
• Air connections:  10/10 intercontinental flights enter via JFK or Newark, while LaGuardia handles the domestic routes.
• Quality of life index – 6/10  The world’s capital is a hub for fashion, art, business and culture.  However, rents and real estate are some of the world’s most expensive.  Crime has fallen substantially in the past two decades.  While NYC is as exciting as it ever was, quality of life has suffered compared to other cities around the world.
• Business landscape – 9/10  NYC is a leading financial centre and global city.  If its happening, chances are its taking place in New York.
• Education – 9/10   There are 600,000 university students in New York City attending 110 universities and colleges.  Nowhere is smarter than NYC.
• Connections – 6/10  New York has the world’s largest subway system, but public transport intercity connections fall way behind the competition in Europe.
• New developments – 7/10   The City on a number of projects and initiatives, including: Hunts Point Peninsula, Bronx, Yankee Stadium Area Redevelopment, Bronx, Coney Island, Brooklyn, and 125th Street in Harlem, Manhattan
• Weather – 7/10 :  7/10  January is cold – 0.1C, July hot – 24.7C, with pleasant temperatures in between.
• Stay – Flatotel 135 West 52nd Street, New York, NY 10019

4. Düsseldorf

Düsseldorf is shadowed by Frankfurt, Munich, and Berlin in terms of exposure, but more and more big businesses are locating here. 

Surely 400 advertising agencies, 100 art galleries, and 18 internet service providers can’t all be wrong?  Okay then, how about two of the four big German mobile phone network providers - D2 Vodafone and E-Plus, or Global energy titan, E.ON?

Düsseldorf’s elegant side is typified by the upmarket Königsallee shopping street.  The city hosts a huge annual Fashion trade show, and the fashionistas flock to the new Media Harbour which has benefited from work by stellar architects like Frank Gehry, Steven Holl and David Chipperfield.

Popular residential areas include Kaiserswerth in the north, Niederkassel in the west and the Zoo quarter in the centre. These areas have several parks, which gives them a leafy appearance and makes them popular with families.  Single urban professionals often prefer Oberkassel, slightly west of the city centre, because of its good infrastructure and wide range of restaurants and shops.

Finally, with financial bothers taking the shine off Frankfurt, it looks like the world is ready to take note of Düsseldorf.

• Population: 581,858
• Air connections: 186 non-stop destinations
• Quality of life index – 8/10  The style-conscious metropolis on the Rhine, Düsseldorf is a hub for fashion, advertising, art, and culture one of Germany's strongest city economies.
• Business landscape – 8/10  The city is tailor made for media companies, and there’s no shortage of blue chip companies fighting to relocate their HQs here.  And at the market rents included below, who can blame them?
• Education – 7/10  Dusseldorf has excellent international schools, the modern Heinrich Heine University has over 18,000 students and consists of a faculty of law, medicine, philosophy, mathematics and natural sciences, and economics.  The city also has internationally respected academies for music, fine art, and science.
• Connections – 9/10  Düsseldorf International is just 8km from the city.  The city is a major rail hub, with over 1,000 trains stopping in Düsseldorf every day.  Excellent road connections.
• New developments – 7/10   The architect names attached to Media Harbour says it all!  This remodelled sector of town has put Düsseldorf back on the map.
• Weather – 6/10  July average, 22C; January 3C

5. Stockholm

The city’s environmental credentials are second to none, and the steady performance of the business landscape underpins Stockholm’s extensive appeal. 

Stockholm was an early adopter of sustainability and has an established district heating system, while water and waste management have been on the political agenda for some time now.  Stockholm’s seamless blend of classical architecture and cutting edge design has given it a strong sense of identity, and tourism has become an intrinsic part in the city's economy.  

Between 1991–2004, annual overnight stays increased from 4 to 7.7 million.  It’s not hard to see why; the mirage of saffron- and terracotta-coloured buildings shimmering between blue skies all summer, or covered with snow and dotted with lights in winter is a pleasure to behold. 

Of course, business has always been Stockholm’s primary concern.  In fact, The World Economic Forum recently ranked Sweden as the world’s most networked economy, scoring highly on infrastructure, education and ‘friendly’ regulation.  With a population that is roughly one-seventh that of London, Stockholm contributes 35% of Sweden's gross domestic product.  The city has the largest gross regional product among Scandinavia’s capital cities. 

It may not have the global clout of London or Frankfurt, but Stockholm certainly holds its own in this part of the world.  And that influence is spreading.

• Population  - 830,000
• Air connections – 176 destinations, 23 intercontinental
• Quality of life index – 7/10  The standard-bearer of eco-urban existence – 40% of Stockholm’s taxis run on sustainable fuel.  The waterfront is clean enough to allow swimming.
• Business landscape – 7/10  The city has substantial financial clout with a thriving banking sector.  Also, no shortage of hi-tech companies and internet start-ups here.
• Education – 7/10  Stockholm University was granted university status in 1960 and is amongst the world’s top 100 universities.
• Connections – 5/10  The city is a major rail hub, with trains leaving constantly in all directions and even under the English Channel to London.  Commendable road connections, too.
• New developments – 6/10   The high speed metro line linking Paris with its suburbs is due for completion in 2023.
• Weather – 6/10  July average, 20C; January, -3C

6. Copenhagen

At a safe distance from the hurly burly, but entirely connected; that’s Copenhagen’s appeal. 

The city is consistently admired as the model modern metropolis.  It’s the sort of place people in high-pressure cities like London and New York dream of – a friendly city where getting to and from work is a breeze, where crime isn’t really an issue, and children are cherished as opposed to demonised.

Copenhagen is now home to a variety of world leading companies which have proven Denmark’s worth as a strong geographical platform for further commercial success.  According to the Invest in Denmark, more than 3,400 foreign companies have located activities here. 

In addition, around 60,000 expatriates live in the region – mainly of EU and Northern American origin.  Consequently, foreign languages are widely spoken in Denmark with 80% of the population speaking English, and nearly half speaking German.

Essentially, what all of this means is that Denmark is one of the world’s most conducive environments for foreign direct investment – whether it’s opening new offices or acquisition.  Corporate tax is just 25%, and social security contributions for employers are 1.21%.

In fact, a Danish company can be set up via online registration in just 24 hours.  In short, there’s little or no reason not to be a part of Denmark’s continued success.

• Population  - 530,000
• Air connections – 119 destinations, 19 intercontinental
• Quality of life index – 9/10  Community-minded residents, a sense of social justice, and civic pride are the key ingredients to Copenhagen’s continued success.
• Business landscape – 6/10  It’s less about raking in the money in Copenhagen, than making the world a better place.  Not necessarily a bad thing…
• Education – 7/10  The Academic Ranking of World Universities ranks Copenhagen as the leading university in Scandinavia and amongst the 50 best universities in the world.
• Connections – 4/10  Rail links to the rest of Denmark are excellent, and links with Sweden have developed rapidly since the completion of the Øresund fixed link.  However, the economic heart of Europe is a plane ride away.
• New developments – 6/10  A new bridge by Olafur Eliasson in the central harbour will connect the city in 2012.
• Weather – 6/10  July average, 19C; January, 0C

7.  London

The City bore the brunt of the financial meltdown in 2008, but London’s forte is re-invention.  From it’s legendary street style, to its constantly shifting hipster neighbourhoods, London’s spirit is indomitable. 

It’s a big city – travel can sometimes be infuriating – and it’s also expensive.  In fact, Londoners take a certain amount of pertinacious pride in this.  Ask them why and they’ll tell you:  Nowhere match the scope and innovation of the capital; if the cost of getting involved is the only obstacle to having a great time, then that’s a price worth paying.

London trades on many levels – from finance to fashion, from media to art – what’s more it leads the world through its citizens’ endeavours.  It’s achingly creative and modern in its outlook, but a conservative streak has always held London together. 

Snobbery is one of the city’s favourite pastimes, and while the class system is long obsolete, the social order still holds sway.  So, whether it’s the cut of your suit or the hang of your jeans, the job you do or the postcode you live in, the car you drive or the bicycle you ride – everything will be decoded immediately by Londoners for its significance.

Sounds terrible, doesn’t it?  But only on paper - it’s this competitive spirit that keeps Londoners on their toes and ahead of the game with the rest of the world. 

• Population – 7.5 million; metropolitan area, 14 million
• International connections:  180 international destinations, in 90 different countries.
• Quality of life index – 5/10  The high cost of living and problematic transport stretched to its limits work against London’s joie de vivre.
• Business landscape – 9/10  One of the world’s great financial centres with a thousand-year history of trade.  London is the place to do business.
• Education – 7/10  The city dozens of world renowned faculties from Art to Science, from Law to Languages.
• Connections – 7/10  Improvements to rail services in London are taking place.  Connections with the continent and cities north have improved massively.
• New developments – 8/10   Cranes are an intrinsic part of London’s skyline.  London is in a constant state of flux.
• Weather – 7/10  July average 20C – January 5C
• Stay- The Apartment Service is the largest European agent for extended stay hotels and corporate housing worldwide.

8. Munich

It might be famous for Lederhosen and beer festivals, but the city is surprisingly sophisticated.

High quality housing, low crime, and a liberal local attitude make Munich a great place to live.  It's Germany’s third largest city, but Munich is incredibly easy to reach.  The city’s close proximity to the Alps has brought investment flooding into the city, facilitating a magnificent airport and a buoyant local economy built on manufacturing

Despite the global financial and economic crisis, Bavaria has been a beacon of dependability for Russian companies.  Munich international Airport has about 75 flights a week to the Russian Federation.

Besides the presence of BMW, Munich is also a centre for biotechnology, software and other service industries.  McDonald’s and Microsoft have their German or European headquarters in Munich.

• Population  - 1.4 million
• Air connections – 160 European destinations, 55 intercontinental
• Quality of life index – 8/10  Munich’s population explosion says it all – people are moving here, and people already here happily reproduce.
• Business landscape – 7/10  The number of new start-ups rose by 6.5% last year in the midst of a recession.
• Education – 8/10  Munich is a leading location for science and research with a long list of Nobel Prize laureates
• Connections – 5/10  Rail links to the rest of Europe are good, and public transport around town is clean and efficient.
• New developments – 4/10  Hoping to host 2018 Winter Olympics
• Weather – 6/10  July average, 19C; January, 0C

9. Vienna

The overall standard of living in Vienna remains far above the world's average, and remains one of the most vibrant cities in Europe.  The city is big enough to excite, and cosy enough to relax in.  Vienna host the HQs of many major international organizations such as the United Nations and OPEC, but culturally it is well catered for, offering some of the best opera, music, dance and theatre - both highbrow and underground.

Vienna is famous for its Sachertorte, but also has a strong culinary presence in places like Rebhuhn, and Steirereck im Stadtpark - generally considered to offer Vienna's - and indeed Austria's - finest dining experience.  Most of all, we never tire of this atmospheric city with its numerous lost alleyways, backstreets and architectural treasures.

• Population  - 1.7 million
• Air connections – 118 European destinations, 23 intercontinental
• Quality of life index – 7/10  Great healthcare and good public transport and attractive surroundings are Vienna’s positives.
• Business landscape – 5/10  Diplomats and opera singers rule the roost in  this town.  Some limited openings for bankers, but let the dust settle for another year or two.
• Education – 8/10  Austria's education epicenter is home to many quality universities.
• Connections – 6/10  Rail links to the rest of Europe – east and west - are good, and public transport around town is clean and efficient.
• New developments – 3/10  Vienna’s new train station has been plagued with overspending and late deliveries.
• Weather – 6/10  July average, 20C; January, 0C

10. Berlin

The city is thriving and businesses start-ups are growing like cress, but the city is labouring under a new wave of developments in Mitte and Alexanderplatz.  But 20 years after the wall came down, perhaps Berlin’s constant reinvention is to be expected.

The city is still highly affordable which sustains the air of creativity from the international population of artists, designers, and musicians – providing Berlin with its loud (and sometimes deafening) creative buzz.  While London has the reputation for hip-ness, Berlin is still at its bohemian best.

• Population  - 3.4 million
• Air connections – 148 European destinations, 21 intercontinental
• Quality of life index – 7/10  Affordable, and edgy, best appreciated from the right side of 40.
• Business landscape – 6/10 Entrepreneurs abound in Berlin.  Ideas run riot in this city
• Education – 8/10  Berlin is one of the most prolific centers of higher education and research in the European Union. The city has four universities and 27 private, professional and technical colleges
• Connections – 6/10  Rail links to the rest of Europe – east and west - are good, though public transport around town could use improvements.
• New developments – 4/10  Berlin’s new airport is expected to open in 2011.
• Weather – 6/10  July average, 20C; January, 0C