Cork city voted number one small European city for economic potential by Financial Times

CORK city has been voted as the number one small European city for economic potential for the second successive year in the Financial Times European Cities and Regions of the Future awards.

Cork City was also voted second overall across various categories and fourth for business friendliness in the annual FT results that were recently published.

The Financial Times European Cities and Regions of the Future awards benchmarked locations for their attractiveness to Foreign Direct Investment (FDI).

Lord Mayor of Cork, Cllr Deirdre Forde said the recent international recognition adds ‘further’ confidence in Cork city’s future. 

“I am delighted to welcome this news. This international recognition adds further confidence to the already present local and national confidence in Cork City’s future. Cork city has experienced a great level of investment and economic growth in recent times resulting in a higher quality of life for our citizens. Cork City Council and the people of Cork will continue to work together to ensure a bright future for our city.” 

Cork City Council Chief Executive, Ann Doherty said the news is greatly welcomed. “I echo the sentiment of the Lord Mayor. For the second year in a row, Cork City has been recognised as the number one small European city for Economic Potential and second overall across various categories in the European Cities and Regions of the Future awards.

“This news is greatly welcomed and is proof that the work and collaboration between Cork City Council and all the key Cork City stakeholders is paying dividends. Cork city is poised to take its place as one of the premier small European cities to live, work and invest in,” she added.

As many as 356 cities were assessed and grouped by population size into five categories which included major, large, mid-sized, small, and micro cities.

They were then ranked based on data collected across five subcategories. These categories included economic potential, business friendliness, connectivity, human capital, and lifestyle and cost-effectiveness.

In their assessment, the Financial Times referenced the opening of the recent container terminal in the Port of Cork, the future regeneration of the Cork City Docklands, and the projected population increase as developments that “bode well for foreign investors, of which Cork has no shortage”.