Competitive Alternatives 2016, a bi-annual study of the business competitiveness of more than 100 cities around the world by KPMG, considers many aspects of the cost of doing business, including costs for labour, facilities, utilities, transportation and taxes.
Manchester was ranked first of all the 10 European cities in the 2016 report, ahead of major capitals such as Berlin, Paris and Rome – and all of these beat out the American baseline figures.
While Manchester enjoys the lowest business costs among the 10 major European cities compared in the study, London is ranked as the costliest.
Jon Holt, office senior partner for KPMG in Manchester, said: “Manchester has attracted significant levels of international investment for a number of years and it’s fantastic to see the strength of the city recognised on a global scale.
“Investors increasingly view Manchester as a natural place to do business, and an attractive alternative to London or other European capitals. The ranking reflects the quality of our business community, but also Manchester’s growing reputation as a great city in which to live and work.”
Business tourism in the city has driven a constant flow of visitors to the city and is a critical factor behind Manchester city centre hotels achieving an occupancy rate of 80% in 2015, a 15-year high.