London has won a victory in the ongoing battle with New York for global business supremacy, ranking the most appealing city for creative industries investment, according to fDi’s Creative Industries Competitiveness Index.
While New York ranked number two in the cities indices, the US was the country of choice for creative industry sector investors.
fDi’s information and communication technology (ICT) Competitiveness Index also ranked the US as the best country in which to invest. India came a predictable second, followed by China which showed particular promise – with Shanghai and Shenzhen ranking number one and two in the top 10 ICT cities index respectively.
The rankings are produced by fDi Benchmark, an online subscription database which benchmarks the cost and quality competitiveness of more than 300 countries and cities worldwide across more than 30 sectors.
The Creative Industries Competitiveness Index is based on an assessment of 120 quality competitiveness indicators, including the size of the location’s leisure and entertainment sector, its specialisation and track record, IT infrastructure, quality of life and skills availability.
The ICT Competitiveness Index is based on an assessment of 120 quality competitiveness indicators, including availability and track record in ICT, availability of specialist skills such as scientists and engineers, access to venture capital, R&D capabilities, software exports, quality of ICT infrastructure and specialisation in software development.
Both indices take into account factors such as: education levels; size and track record of the sector; quality of IT infrastructure; air, port, road and railway infrastructure quality; quality of electrical supply; size of labour force; labour productivity; hiring and firing flexibility; labour relations; foreign ownership restrictions; business costs of terrorism; and cost of establishing a business.