London and Edinburgh Lead on Knowledge and Innovation Says New EC Report

A New Report Investigating 258 European Cities Reveals That London and Edinburgh are Amongst Less Than Six Per Cent of Cities Categorised as 'Knowledge Hubs' - and as Such are More Likely to be Economically Successful.

The 'State of the European Cities' report - commissioned by the European Commission and compiled by economic and social development specialists, ECOTEC Research & Consulting Ltd - analyses factors such as economic capacity and growth; employment rate; demographics; transport; and the educational background of the population.

In relation to the last category, Edinburgh leads all 258 cities, with
42.4 per cent of its residents educated to degree level.

Director of ECOTEC Research & Consulting, and principal author of the report, Jan-Maarten de Vet, said:

During our analysis we identified a number of characteristics that are shared by London and Edinburgh, and each of the other 13 cities categorised as 'Knowledge Hubs'. These characteristics combine to place these cities right at the top of the European League.

Amongst the 258 cities analysed, the cities identified as 'Knowledge Hubs' are: Amsterdam; Barcelona; Cologne; Copenhagen; Dublin; Dusseldorf;

Edinburgh; Frankfurt; Hamburg; Helsinki; London; Lyon; Munich; Milan; and Stockholm.

Each 'Knowledge Hub' is able to demonstrate:

- significant GDP level (65 per cent above the EU average)

- good economic growth

- high levels of employment and participation - including younger and more mature members of the population

- a large share of the private sector as part of the economy

- strong innovation and entrepreneurship

- a high share of the population with a university education

- high commercial and residential property prices

- excellent accessibility via a range of transport methods.

With these advantages, London and Edinburgh are well positioned to adjust to global change and has a very strong foundation for the future, continued Jan-Maarten De Vet.

Commenting on the report, Greg Clark, Lead Advisor on City & Regional Development to the Department for Communities and Local Government and Chairman of the Organisation for Economic Co-operation and Development (OECD) Local Economic and Employment Development (LEED) Forum on Development Agencies and Investment Strategies said:

As well as being a valuable source of data for UK economists, policy makers, regeneration specialists and investors, the vast amount of information contained in this report will be of interest to anyone who cares about what's happening in our major cities.

This important study should be repeated on a regular basis so the performance of our cities can be benchmarked against the rest of Europe and patterns and changes can be mapped and responded to.