Regions Europe

Stockholm, Sweden

The vast majority of Stockholm residents work in the service industry, which accounts for roughly 85% of jobs in Stockholm. The almost total absence of heavy industry (and fossil fuel power plants) makes Stockholm one of the world’s cleanest metropolises. The last decade has seen a significant number of jobs created in high technology companies. Large employers include IBM, Ericsson, and Electrolux. A major IT centre is located in Kista, in northern Stockholm. Stockholm is Sweden’s financial centre. Major Swedish banks, such as Nordea, Swedbank, Handelsbanken, and Skandinaviska Enskilda Banken, are headquartered in Stockholm, as are the major insurance companies Skandia, Folksam and Trygg-Hansa. Additionally, about 45% of Swedish companies with more than 200 employees are headquartered in Stockholm. Famous clothes retailer H&M is also headquartered in the city. In recent years, tourism has played an important part in the city’s economy. Stockholm County is ranked as the 10th largest visitor destination in Europe, with over 10 million commercial overnight stays per year.

Venice, Italy

Venice is one of the most important tourist destinations in the world for its celebrated art and architecture. The city has an average of 50,000 tourists a day. It is the world’s 28th most internationally visited city, and is regarded as one of the world’s most beautiful cities. Today, there are numerous attractions in Venice, such as St Mark’s Basilica, the Grand Canal, and the Piazza San Marco. The Lido di Venezia is also a popular international luxury destination, attracting thousands of actors, critics, celebrities, and mainly people in the cinematic industry. The city also relies heavily on the cruise business. However, Venice’s popularity as a major worldwide tourist destination has caused several problems, including the fact that the city can be very overcrowded at some points of the year. It is regarded by some as a tourist trap, and by others as a”living museum”. Unlike most other places in Western Europe, and the world, Venice has become widely known for its element of elegant decay. The competition for foreigners to buy homes in Venice has made prices rise so high that numerous inhabitants are forced to move to more affordable areas of Veneto and Italy, the most notable being Mestre.

Vienna, Austria

The Economist Intelligence Unit ranked the city first (in a tie with Vancouver, Canada) for the world’s most livable cities. For four consecutive years, the human-resource-consulting firm Mercer ranked Vienna first in its annual”Quality of Living” survey of hundreds of cities around the world. The city was ranked 1st globally for its culture of innovation, and fifth globally in the Innovation Cities Index, which analyzed 162 indicators in covering three areas: culture, infrastructure and markets. Vienna regularly hosts urban planning conferences and is often used as a case study by urban planners. Each year Vienna has been the world’s number one destination for international congresses and conventions. It attracts about five million tourists a year.

Warsaw, Poland

Warsaw, especially its city centre (Sródmiescie), is home not only to many national institutions and government agencies, but also to many domestic and international companies. Warsaw’s ever-growing business community has been noticed globally, regionally, and nationally. MasterCard Emerging Market Index has noted Warsaw’s economic strength and commercial center. Moreover, Warsaw was ranked as the 7th greatest emerging market. Warsaw leads the region of Central Europe in foreign investment . It also has one of the fastest growing economies, with GDP growth at 6.5 percent. The number of state-owned enterprises continues to decrease while the number of companies operating with foreign capital is on the rise, reflecting the continued shift towards a modern market-based economy. The largest foreign investors are Coca-Cola Amatil and Metro AG. Warsaw has the biggest concentration of electronics and high-tech industry in Poland, while the growing consumer market perfectly fosters the development of the food-processing industry