Cologne's status as a 'place to be' for young people gives the city an advantage when it comes to digital and hi-tech industries, a fact not lost on the likes of Electronic Arts, IBM and Microsoft, which are located within the city.

Cologne's reputation as a strong trade destination dates back for centuries, but more recently the city has made its name through its hosting of trade fairs and conferences at its huge Koelnmesse exhibition centre.

The continued presence of other leading aerospace and aviation companies, close proximity to three large airports and close links with educational establishments combine to give Cologne confidence that its aerospace sector can rise above the loss of Lufthansa’s headquarters. 

Within the space of two years, Cyprus has gone from being one of Europe's crisis countries to now having many causes for optimism, with its banks back in international favour and the island's tourism market showing a marked uptick.

The death of business travel has oft been predicted, but with airlines and hotel chains alike investing in expanding their capacity and improving their offerings, it seems as if the corporate travel sector is very much alive and kicking.

For biopharmaceutical companies entering Europe, the Belgian region of Wallonia is proving particularly popular. One reason for this is the service provided by the region’s export and investment agency, AWEX, finds Wendy Atkins

The German state of Hessen is home to the city of Frankfurt and also many of the world's leading logistics companies. With an outstanding infrastructure and business-friendly attitude at the heart of Europe, the region is gaining a reputation for being a global logistics leader.

Scotland's already impressive tourist numbers will rise further still in 2014 as the country hosts the Commonwealth Games and the Ryder Cup. Its hotel industry is well prepared to cope with this influx of visitors.

Cyprus has turned a corner after its recent banking crisis, say observers, with investor confidence gradually returning to the finance sector. And the country’s emerging fund industry and foreign exchange trading are providing a potential draw for foreign investors. 

When it comes to development ambitions, Cyprus is thinking big with plans for a casino resort, a science and technology park, hotels, shopping centres and new office space, plus the redevelopment of terminals at Larnaca and Paphos airports.