Ukrainian Cities Top the Lists of the Cost Effective Investment Destinations in Europe

Financial Times' fDi Intelligence Unit has released their annual European Cities and Regions of the Future 2012/2013 report. According to the new document, seven Ukrainian cities topped the list of most cost effective destinations for investment. The Western Ukrainian city of Ternopil ranked as the best European city for cost effectiveness.

In the cost effectiveness of investment category Ukrainian cities topped three of the four available categories - Top 10 Major Cities, Top 10 Small Cities, and Top 10 Micro Cities. The eastern Ukrainian Kharkiv leads Top 10 Major Cities list with another eastern Ukrainian city - Dnipropetrovsk - being second. The southern city of Mykolayiv turned out to be the most cost effective among small cities, while four Ukrainian micro cities took highest spots on the Top 10 Most Cost Effective Micro Cities list: Ternopil, Berdyansk (Black Sea resort), Truskavets (mineral water resort), Pereyaslav-Kmelnytsky (historical sanctuary). Drohobych and Rivne take the respective eighth and tenth spots on the list.

Even though no Ukrainian city opens the list of Top 10 Large Cities, investments to which would be most cost effective, the Ukrainian Black Sea port Odesa, the popular tourist destination in the western Ukraine Lviv, and the capital Kyiv are all featured on the list. Odesa took the second place, Lviv - third, and Kyiv - seventh position. Ukraine also holds places five to ten on Top 10 Regions Cost Effectiveness list (Shumsk, Ternopil, Mohyliv-Podilskyi, Transcarpathia, Lviv and Kharkiv regions).

The western Ukrainian Lviv ranked fourth in Eastern Europe on the top ten list of cities that have the best strategy for attracting foreign direct investment. The city also enjoys the sixth position in the same category among large cities. The creators of the foreign direct investment strategy for the southern Ukrainian city of Zaporizhzhia must be doing something right as they got to number seven in this category on the list of Top 10 Eastern Regions.

The Ukrainian capital also scored number five among large cities in the category of human resources. This shows the high professional level of the potential employees that foreign investors can get in the city.

European Cities and Regions of the Future 2012/2013 report took into account information on 253 European cities and 110 European regions.