A region from Romania ranks fifth in the Milken Institute’s inaugural Best-Performing Cities Europe index released on Monday. The Top-20 also includes Bucharest.
The Milken Institute syrvey demonstrates impact of policymaking on jobs, wages, manufacturing, and other measures in European cities, while providing a way to measure which European regions offer the greatest opportunities for prosperity across the continent. The ranking measures metropolitan areas’ economic performance using outcomes-based metrics including job creation, wage gains, manufacturing, and skilled service industry concentration.
The North-West region of Romania ranks fifth, while the Romanian Capital, Bucharest has grabbed the 16th position.
Inner London-East is Europe’s Best-Performing Cities, while Stockholm ranked a close second. Budapest, which has been creating new jobs at an unparalleled pace, came in third. Overall, five U.K. cities/regions ranked in the top-20 while four were in Poland.
“While global politics and business cycles are key external forces acting on regional economies, top performing regions invest in strategies that capitalize on competitive advantages and weather challenges better than their peers,” says Kevin Klowden, executive director of the Milken Institute’s Center for Regional Economics. “Our goal is to help businesses, investors, industry associations, development agencies, government officials, academics, and public-policy groups monitor and evaluate how well their region is adapting to and planning for both current and future economic trends.”
See the rest of the index here.