Riga has received two awards from the prestigious Financial Times ranking European Cities and Regions of the Future 2024 in the category of mid-size cities, which will be presented at the international real estate and investment forum MIPIM in Cannes.
Riga received the award for 4th place in the Human Capital and Lifestyle category and the award for 6th place in the Foreign Direct Investments Strategy category in the group of European mid-sized cities. At the same time, the Riga Region was ranked among the Top 10 in the Human Capital and Lifestyle category.
The Financial Times ranking compares European cities and regions by their economic, financial, and business performance, ranking Riga along with Zurich, the Oslo city region, and Leipzig.
"I am happy that Riga continues to win recognition for its progress and development, winning awards from the Financial Times for a second consecutive year. It is not just our pride but also proof of the attractiveness and trustworthiness of our city as a successful long-term investment target. Our strategic approach to attracting investments, based on the improvement of the business environment, availability of good quality workforce, and development of infrastructure, has been recognized and strengthens our confidence about Riga as one of the leading investment targets in Europe," said Riga Mayor Vilnis Kirsis.
"This award proves that Riga is attractive, trustworthy, and a long-term successful investment target. It strengthens the attractiveness of our city for investors and proves our successful strategic approach to attracting investments. This award strengthens our confidence that Riga is one of the region's leading cities in the attraction of investments," said Riga Investment and Tourism Agency director Fredis Bikovs.
The Riga Foreign Direct Investment (FDI) attraction policy aims to increase the city's competitiveness as an environment attractive for investments, considering the aspects that are most important for investors: simplicity of the bureaucratic procedures and a stable taxation policy; availability of qualified workforce; market potential; availability of the necessary infrastructure; and the offered support instruments and stimuli.
The report covered European cities and regions, assessing different criteria for attracting FDI and protecting the environment. fDi Intelligence is an FDI publishing company that reports on global investment activity. The report evaluated 330 European cities and 141 regions of cities in total.