fDi American Cities of the Future 2013/14 press release
For immediate release
New York City claims the title as the top city in the Americas for inward investment attractiveness but the fast-rising São Paulo is proving a fierce competitor
Despite a 16% global decline in FDI in 2012, New York has remained the top destination for FDI into the Americas and was named fDi Magazine’s American City of the Future 2013/14. São Paulo followed closely in second and Toronto in third.
The Big Apple showed its mettle by winning the rankings despite both economic (Wall Street bail out) and natural (Hurricane Sandy) disasters, remaining one of the world’s top destinations for investors and attracting 1.08% of global FDI. Even in the face of Hurricane Sandy, New York managed to retain its title as the Best Major (see below for population categories) American City for Infrastructure, previously won in the 2011/12 rankings.
But a South American competitor is nipping closely at its heels. For the first time in fDi Magazine’s bi-annual rankings, the Brazilian city of São Paulo has not only entered the top 10 but it ranked second overall. São Paulo consolidates its position as a key player in the global FDI arena (it reached sixth place worldwide in 2012) and also manages to snatch the top position in economic potential from New York (which won the 2011/12 rankings), to claim the title of Best Major American City for Economic Potential. According to greenfield investment monitor fDi Markets - part of the same division of the Financial Times as fDi Magazine - FDI into the South American business metropolis has increased year on year since 2004.
Canadian cities Toronto, Montreal and Vancouver respectively ranked third, fourth and fifth overall, and performed particularly well in the attraction of knowledge-intensive FDI.
US cities made up the remainder of the top 10, with Houston, Atlanta, San Francisco, Chicago and Miami ranking sixth to 10th, respectively.
In a weakened global economy, US, Brazilian and Canadian cities continue to attract the lion’s share of FDI into the Americas region. However, cities in Mexico, Colombia and Chile are offering a more competitive deal than ever to entice potential investors, and many governments and investment agencies are implementing initiatives to improve infrastructure, business regulations and financial incentives.
Other highlights include:
- With the exception of New York, Montreal-based companies invested in more FDI projects than other city in the Americas region
- San Francisco and Houston experienced the largest growth in FDI projects behind São Paulo and New York
- Relative to population size, Atlanta and Miami were in the top five for attracting FDI
- São Paulo has also been named the Latin American City of the Future 2013/14, pushing the previous winner, Santiago (Chile), into second position, and leaving fellow Brazilian metropolis Rio de Janeiro ranking third
- Five new entrants featured in this year’s Latin American top 10 cities: Rio de Janeiro, Buenos Aires, Mexico City, Panama City and Montevideo
- Colombia’s strategy to rebrand the country and build a positive international image to potential investors appears to be paying off, and FDI into Bogotá has increased year on year since 2008
- San Jose, California, the largest city within the world-renowned Silicon Valley, was named Best Large American City for Economic Potential
- Sunnyvale, California, is named as the Best Small City for Economic Potential again this year. Also located within the Silicon Valley area, Sunnyvale’s attraction as a destination is enhanced by the presence of global companies such as Yahoo! and Advanced Micro Devices, which are headquartered in the city
- Boston ranked as the Best Major American City for Human Resources 2013/14
- The coastal sea port of Seattle topped the category for best infrastructure among large cities. Home to the ninth largest port in North America in terms of container handling, Seattle continues to be a major gateway for trade with Asia
An awards ceremony will be held at the IEDC annual conference, taking place in Philadelphia on October 6 – 9, 2013.
For the 2013/14 ranking, fDi Magazine introduced new population category parameters. To categorise cities, fDi took into account both the population of the immediate city area and that of the metropolitan area.
Major (49 cities)
The cities in this category had an immediate city population of more than 750,000 people plus a metropolitan area of more than 2 million, or a metropolitan area of more than 4 million.
Large (52 cities)
This category included those cities with an immediate city population of more than 500,000 plus a metropolitan area of more than 1 million, or a metropolitan area of more than 2 million people.
Mid-sized (80 cities)
The cities in this category had an immediate city population of more than 200,000 people plus a metropolitan area population of more than 750,000, or an immediate city population of more than 350,000 people.
Small (196 cities)
Cities categorised as small had an immediate city population of between 100,000 and 350,000.
Micro (43 cities)
Micro cities had an immediate city population of fewer than 100,000.
For further information please contact Dino Ribeiro, on email@example.com or call +44(0)20 7873 3964 / +44 (0)7739 924084. The full results are available onhttp://www.fdiintelligence.com/Rankings – please register to download the full results for free.
Notes to editors
About the rankings
These rankings are part of fDi Magazine's 'Locations of the Future' series, which are
designed to identify the most promising destinations around the world for future inward
investment. Each world region is assessed over two years.
To create the shortlist of 'American Cities of the Future 2013/14', fDi's research team
collected data using the specialist online FDI tools fDi Benchmark and fDi Markets as well as
other sources. Data was collected for 422 cities under five categories: ‘Economic Potential’,
‘Human Resources’, ‘Cost-Effectiveness’, ‘Infrastructure’ and ‘Business Friendliness’. A sixth
category was added: ‘FDI Strategy’. In this category, 127 cities submitted details about their
current strategy for FDI promotion and this was scored by fDi’s judging panel. Cities scored
up to a maximum of 10 points under each individual datapoint, which were weighted by
importance to the FDI decision making process in order to compile both the subcategory
rankings as well as the overall ‘American Cities of the Future’ ranking.
Please state the source as fDi Magazine, from the Financial Times. The source is not the
Financial Times newspaper.
About fDi Magazine
fDi Magazine is a specialist publication which reports on crossborder investment and is read
by senior-level executives at multinational corporations and others involved in corporate
greenfield site-selection decisions. A bi-monthly publication, fDi Magazine is part of the fDi
Intelligence division of the Financial Times
About fDi Intelligence
fDi Intelligence (www.fDiIntelligence.com) is the largest FDI centre of excellence globally.
Specialising in all areas relating to foreign direct investment and investment
promotion, the full suite of services includes: location advertising to generate brand
awareness; industry-leading intelligence tools to develop FDI strategies and identify potential
investors; and tailored FDI events and investor roundtables to meet target companies and
generate business leads.
Products within the portfolio include fDi Markets, a database tracking crossborder greenfield
investment on a real-time basis; fDi Benchmark, a database which benchmarks global
locations on their attractiveness to foreign investors; and fDi Magazine.
About the Financial Times
The Financial Times, one of the world’s leading business news organisations, is recognised
internationally for its authority, integrity and accuracy. Providing extensive news, comment
and analysis, FT.com is the definitive home for business intelligence on the web, providing an
essential source of news, comment, data and analysis for the global business community.
The latest announcements from fDi Intelligence, international press coverage and media contacts.
Latest fDi announcements
fDi Magazine’s second global ranking of economic zones has awarded Dubai Airport Free Zone the title of Global Free Zone of the Future 2012/13.
The UK recorded an increase of 13% in FDI project numbers, capital investment in the UK increased by 48% and FDI job creation by 33%, according to a report released by fDi Intelligence. The number of FDI projects in Europe declined by 3% in 2011, with a mixed performance across countries.
The number of FDI projects in Europe declined by 3% in 2011, with a mixed performance across countries, according to a report released by fDi Intelligence. In terms of total job creation, FDI in Russia generated the highest number of new jobs, with 89,047 jobs created in 2011 compared to 66,817 in the UK. This was despite a decline in FDI in Russia in 2011.
China, India and Singapore attracted 2485 of the 4330 FDI projects into Asia-Pacific, according to a report released by fDiIntelligence. India was the strongest performing country with a 21% growth in FDI projects in 2011, following just 1% growth in 2010. India and China achieved an increase in capital investment of 15% and 3% respectively.
The Middle East and Africa (MEA) attracted a total of 1530 projects, according to a report released by fDi Intelligence. Capital investment was down slightly by 1% and job creation up by 3%. The top 10 countries for FDI attracted 64% of projects and capital investment, and 54% of jobs created.
The Canadian province of Alberta and the US states of New Jersey, Massachusetts and Pennsylvania have posted the most impressive growth figures in FDI in a report released by fDiIntelligence. Alberta recorded a 54% growth in FDI projects in 2011, New Jersey followed closely with 53%, Massachusetts (38%) and Pennsylvania (29%).
Brazil dominated FDI in the Latin America and Caribbean region in 2011, attracting 491 projects – 36% of the total number in the combined region – last year, according to a report released by fDi Intelligence.
fDi in the News
15th September 2014
Considered the only reputed Free Zones Rankings around the globe, fDi Magazine rankings are based on several criteria such as outstanding performance, growth and expansion plans, and presence of high growth industries." Dr. Al Zarooni added "The key objective of participating in the Global Free Zones Ranking is to benchmark our performance with the world renowned Free Zones and determine our position in the Free Zones world map."
August 1st 2014
This clearly demonstrates the success of the island economy’s efforts in positioning itself as a preferred financial hub for investments into Africa, as well as Asia. The Financial Times released the fDi Report 2014 in its fDi intelligence publication to show an overall increase in projects out of Middle East and Africa, such that FDI grew 21.81% over 2012 to reach a total of USD 48.02 billion. However, project numbers and job creation declined by 11.54% and 26.41% respectively. The UAE remained the leading country in the MEA region for outward FDI with USD 14.68 billion capital investment accounting for 30.56% market share, followed by Kuwait with USD 10.73 billion capital investment and 22.35% market share.
July 21st 2014
fDi Markets says that in March, 228 foreign companies invested in 254 projects in western Europe, spending $11.34bn and creating 20,458 jobs. In April, the number of new projects dropped to 249 by 217 companies, and continued to fall to 188 projects by 164 companies in May. Capital investment dipped to $5.63bn in April, down 50.4% from March. There was a slight rise in May, with a capital investment of $6.21bn.
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Washington along with her appreciation for increased investment from the U.S. as well as from Germany and Russia. Instead of having to take her word for it, the dozen attendees at a breakfast meeting at the World Trade Center Atlanta in Buckhead learned that the Financial Times Group’s fDi Magazine named Budapest, Hungary’s capital, as the most attractive Central and Eastern European city for foreign direct investment (FDI) in 2014. Wroclaw and Katowice, Poland, were ranked second and third in the category.
June 10th 2014
Financial Times’ FDi Magazine recognises Jafza the Best Free Zone in the Middle East for large multinationals
Salma Ali Saif Bin Hareb, CEO of Economic Zones World and Jafza, commenting on the fDi awards said: “We are delighted to be recognized as fDi Free Zone of the Year 2014 for “Large Tenants” – Middle East and North Africa, as well as, fDi Free Zone of the Year 2014 for “Large Tenants” – United Arab Emirates. The awards reaffirm Jafza’s unique position as the most favoured investment destination for large multinationals across the world. I attribute Jafza’s remarkable achievements to our most committed and efficient team that continues to help Jafza maintain its invincible leadership status today and the times to come.”
June 9th 2014
Dubai, UAE; 9 June 2014: DMCC , the Government of Dubai Authority with a mandate to enhance Dubai's position as a global gateway for commodity trade and enterprise, has been named by fDi Magazine as Free Zone of the Year for SMEs - Middle East & Africa and Free Zone of the Year for SMEs - UAE in their Middle East Free Zones of the Year rankings and awards for 2014 / 2015.
May 29th 2014
It now wants the law establishing the authority's amended to compel all new foreign businesses to register with it to ensure close and timely monitoring of trends in underperforming foreign direct investments. He said it was “tricky” to track FDI inflows, a situation that has forced it to subscribe to fDi Intelligence–a London based bimonthly magazine. The Magazine's data puts Kenya's FDI inflows year to date at Sh29.97 billion($341.2 million).
May 22nd 2014
Ontario, Texas, California, Quebec and Louisiana took the top five slots for attracting "greenfield investment," or new projects or major investments by foreign investors, according to the fDi Report, an annual assessment based on the fDi Markets database of the Financial Times. The report ranked states by the amount of capital investment, rather than number of projects, as had been the case in previous years. So they are not apples-to-apples comparisons to 2012 and 2011, when Illinois was No. 8 and No. 9, respectively.
May 19th 2014
10. Tangier-Tetouan, Morocco
Tangier, a city in northern Morocco, is home to the Tangier Free Zone which was ranked in sixth position in fDi Intelligence’s Global Free Zones of the Future 2012/13. “An extended metropolitan region is growing around Tangier, which has become North Africa’s largest container port.”
11. Algiers, Algeria
Algiers is a province in Algeria and holds the country’s capital of the same name. EY ranks the area in 11th position in Africa, with a share of 1.9% of FDI projects between 2007 and 2013.
May 7th 2014
fDi Intelligence, a unit of the Financial Times, provides project data to UNCTAD and in respect of 2012 it put the level of new projects (in respect of existing firms and new) at 812 in the UK and 147 in Ireland. The chart here shows that jobs in FDI exporting firms in Ireland in 2013 were below the level in 2000 -- 13 years ago -- despite a 22% rise in the overall size of the workforce.
May 6th 2014
fDi Intelligence, the largest centre for assessing foreign direct investments worldwide, has ranked two Serbian free zones, Pirot and Zrenjanin, 41st and 48th respectively on the list of 50 most attractive zones for foreign direct investments in the world. How do free zones in Serbia operate in practice? If you ever find yourself in a free zone, this should be immediately apparent to you, as it must be clearly marked as a free zone, particularly at entrances and exits, and river-side as well, if the zone has river access.
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