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Budapest falls among best cities for business

Budapest dropped on Cushman & Wakefield's list for best cities in which to do business in Europe this year.

The Hungarian capital is now 25th of the list of 34 cities in Europe after placing 22nd last year and 21st in 1990, Cushman & Wakefield's new table showed.

Of other CEE capitals, Warsaw scored better than Budapest, taking 23rd place this year and placing better than last year, when it occupied the 24th position on this list, while the Polish capital also improved compared to 1990, when it finished in 25th place. Prague was in 21st place on the table this year after placing 19th last year and 23rd in 1990. Vienna, however fell back to 28th place this year from last year's 26th and 20th in 1990.

Moscow finished 32nd on Cushman & Wakefield's 2009 list of best cities for business in Europe this year, the same as last year and compared to 24th in 1990. Bucharest placed 30th on the list, up from 31st last year. Bucharest was not on the company's table in 1990. London attained the highest ranking on this year's list, just as both last year and 1990, while Athens placed last on the list, just like last year.

Cushman & Wakefield said that companies are still expecting to expand across Europe over the next five years, although the numbers are noticeably reduced from last year. Central and Eastern Europe remains a popular destination, with Warsaw replacing Moscow as the city expected to see the largest influx over this period.

Other CEE cities that can expect interest from significant numbers of companies include Bucharest and Budapest and, of the more established business cities, Paris and London remain the most popular destinations for European expansion, Cushman & Wakefield said. (MTI-ECONEWS)