Greater Manchester retains title as top large UK city for FDI

Greater Manchester has once again been named as top Large UK City for Foreign Direct Investment (FDI) in the FDI Intelligence European Cities and Regions of the Future 2024 report.

In the assessment of over 500 locations across Europe, the ranking once again recognises the city-region’s strengths as a hub for investment and economic growth.

The FDI Intelligence report benchmarked 330 cities, 141 regions and 38 LEPs, with Greater Manchester named as a the Top Large UK City overall, and placing in the top five in the Economic Potential and Business Friendliness sub-categories. The assessment recognises the city-region’s states as the largest economically in the UK outside London, with an annual output of £78.7 billion, and with key strengths in the Creative, Digital and Tech; Advanced Manufacturing; Financial, Professional and Business Services; and Life Sciences sectors.

Joe Manning, Managing Director at MIDAS, Manchester’s Inward Investment Agency said

“Manchester continues to stand out as a prime destination for businesses seeking strategic opportunities in Europe. It’s promising to see that our commitment to fostering sustainable development and driving innovation has been recognised by FDI Intelligence.”

The Greater Manchester Business Board, the successor organisation to its Local Enterprise Partnership, was also assessed, and ranked in the top five across all categories, including second-place positions for Local Enterprise Partnerships of the Future, and Business Friendliness.

Lou Cordwell OBE, Chair of Greater Manchester Business Board, said

“It’s great to see Greater Manchester as a city-region, and Manchester as a city, continue to be an attractive proposition for international investors. With access to a skilled workforce, leading academic research, regional, national and international connectivity, and strong local business networks and partnerships, we have always had a compelling offer, but now we’re gaining a reputation as a leading worldwide business destination.

“To be increasingly recognised for business friendliness, economic potential and FDI strategy is a testament to the ecosystem we’ve created here that allows businesses to thrive. It shows Greater Manchester can compete on a global scale to attract businesses and drive the right kind of growth for our residents.”