Krasnodar Krai (Russia) and North Rhine Westphalia (Germany) ranked joint top for economic potential. fDi’s judges voted Krasnodar Krai top for potential economic growth, but economic data showing North Rhine Westphalia’s strong past performance pulled it up to rank alongside its Russian rival.

Significant FDI into North Rhine Westphalia in the past two years will strengthen the region’s already healthy GDP levels, which reached €466.9bn in 2003. The region ranks 14th in the world for GDP, ahead of Australia, the Netherlands, Belgium, Switzerland and Sweden.

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More than one-third of all FDI into Germany is concentrated in the region.

Scotland was the runner-up.