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Estonia’s capital ranks among top ten European cities of the future

Tallinn has been recognized in the "European Cities and Regions of the Future 2024" rankings by the Financial Times' fDi Magazine, placing in the top ten for medium-sized European cities.

Tallinn was ranked in the list of top ten medium-sized European cities in two categories in the Financial Times’ fDi Magazine’s “European Cities and Regions of the Future 2024” rankings.

Tallinn ranked highly in employment participation rate, education level, knowledge and skills, business-friendly entrepreneurship, and investment environment. It achieved tenth place for employment participation rate and third place for business-friendly entrepreneurship and investment environment, surpassing Vilnius, Zürich and Edinburgh among others. In the overall score, Tallinn has secured 10th place.

Harju County, the capital region located in North Estonia, was also counted among the best small regions for business-friendliness, in third place ahead of the Canton of Zug, the Luxembourg Region and the Brussels Capital region.

The fDi rankings are updated biennially. Cities considered medium-sized in the rankings are those with populations ranging from 200,000 to 750,000. Tallinn has consistently ranked in the top ten across different categories since 2012.

Foreign investment attractiveness of a city or region is determined by factors such as economic potential, human capital, cost-effectiveness, connectivity, and business friendliness. Nearly 90 statistical indicators are used to evaluate this, and competition is fierce. In the latest rankings, over 250 cities were assessed and placed into five categories based on their population size.

With its strategic geographic location, digital advancement, and favourable business climate, Estonia continues to attract FDI and businesses looking to establish a foothold in the European market or test innovative projects. And opening a company here, with an advanced e-Residency program and fully digitalised flow, could take as little as 15 minutes with record-low time allocated for tax filing.

The fDi Magazine’s awards were given out at the MIPIM international real estate and investment fair in Cannes. The city of Tallinn, for the twelfth time, showcased at a joint stand with Invest and Estonia and local companies in real estate development, asset management, and real estate technologies sectors.

Wish to compare Estonia’s business environment to that of other EU countries? Try out our brand-new comparison tool.

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