Debrecen is second-best Foreign Direct Investment destination in Europe

The Hungarian city was outstripped only by Reykjavik in the annual Financial Times ranking

Debrecen, Hungary’s second largest city and capital of Hungary’s Northern Great Plain region, has won yet another recognition for its enviable ability to attract foreign investments.

The city stayed in the top three on the 2020/2021 Financial Times’ fDi (Foreign Direct Investment) European Cities and Regions of the Future’s list. Debrecen finished second in the Small European Cities of the Future - Best fDi Strategy category, behind the Icelandic capital Reykjavik.

What gives added value to this achievement is that Debrecen is the first of the Central European cities to appear in the TOP 3 of the FT ranking for two successive periods. In 2018, Debrecen was ranked number one in the same category. This gave him the European City of the Future Award, which it could hold for two years. 

Debrecen mayor László Papp will receive the new award at an official ceremony in Cannes, France on March 10.

EUR 2 billion in foreign investment, 6 000 new jobs

At a press conference on Wednesday, Papp pointed out that over the past 5 years, more than 6,000 jobs have been created and foreign investment worth nearly € 2 billion has been brought to Debrecen. 700 hectares of land in the municipality are undergoing industrial development. The top investment decision, undeniably, was BMW Group’s announcement in 2018 that the carmaker would set up its new factory in the city. Construction of the plant will begin this spring.

Debrecen is also attractive because it is possible for companies to establish strategic cooperation with the University of Debrecen and the Debrecen Vocational Training Center, the mayor said, quoted by the city website. 

He stressed that Debrecen's long-term goal is to become the region’s economic, educational and cultural center, reinforcing its leadership in Central and Eastern Europe. 

Another Hungarian city – Miskolc, came in 5th in the same category on the FT list, edging out Braga, Cork, and Nicosia.