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Business-Friendly Cities report

The definitive guide to where business thrives in emerging Europe.

Explore the only dual-index ranking that reveals both perception and reality across 168 cities—so you can invest, partner, and expand with confidence.

5th

EDITION

101

GLOBAL FDI EXPERTS SURVEYED

NEW

GEOSPATIAL DATA INCLUDED

168

CITIES in 23 countries: Albania, Armenia, Azerbaijan, Belarus, Bosnia and Herzegovina, Bulgaria, Croatia, Czechia, Estonia, Georgia, Hungary, Kosovo, Latvia, Lithuania, Moldova, Montenegro, North Macedonia, Poland, Romania, Serbia, Slovakia, Slovenia, and Ukraine.

A compass for city competitiveness

The Business-Friendly Cities Report 2024 ranks 168 cities across eight strategic categories—from talent to infrastructure—based on expert perception and geospatial data.

For the first time, it combines survey insights from 101 global FDI and site selection experts with hard data scraped from OpenStreetMap, offering a balanced, evidence-backed view of city competitiveness.

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The cities you’ve overlooked—until now

This isn’t just about rankings—it’s about stories cities tell, and the ones they fail to.

In a region undergoing profound reinvention, this report helps you cut through noise, uncover underrated hubs, and understand where opportunity truly lives. It's a guide to perception—and a map to potential.

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Contents

City rankings – perception vs reality

  • Rankings for 90 established and 78 emerging cities based on expert opinion and geospatial indicators
  • Discover the disconnect between how cities are seen—and how they perform

Eight pillars of business friendliness

  • Brand, economic potential, business climate, talent pool, smart city development, infrastructure, quality of life, and local support
  • Why some cities punch above their weight—and what others can learn

Baltic and Central European momentum

  • Case studies of cities rising fast in perception and performance
  • Small capitals, global ambition

City highlights and hidden champions

  • Profiles of standout cities across each category
  • Why now is the time to look beyond capital cities

Perception shapes investment. This report shows which cities are winning hearts, not just headlines.

Whether you're building a city brand or scouting your next base, the Business-Friendly Cities Report helps you understand where ambition meets credibility—and where the smart bets are being placed.

Business-Friendly Cities 2024

Includes both the perception index and geospatial index + full ranking tables, visual summaries, and category breakdowns.

$89

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FAQ

What makes this report unique?
It’s the only one in the region that combines perception data from global FDI experts with objective geospatial analysis—so you get both the narrative and the numbers.
Who is it for?
Ideal for city leaders, investment promotion agencies, site selectors, corporate expansion teams, and advisors who need to compare locations strategically.
Does it include cities beyond capitals?
Yes. We cover 90 established and 78 emerging cities—including many tier-three hubs you won’t find in other rankings.
What’s new in the 2024 edition?
The addition of a full geospatial index using OpenStreetMap data adds a quantitative layer to balance expert opinion.
Is this a Reinvantage product?
Yes. Previously part of Emerging Europe’s insight suite, this edition is now published under Reinvantage—bringing our sharper, more strategic lens to the region’s evolution.