Global Cities Investment Monitor 2012

Greater Paris Investment Agency
GLOBAL CITIES
INVESTMENT MONITOR 2012
THE NEW RANKINGS, TRENDS AND CRITERIA
GLOBAL CITIES
INVESTMENT MONITOR 2012
THE NEW RANKINGS, TRENDS AND CRITERIA
2
GLOBAL CITIES INVESTMENT MONITOR 2012 THE GREATER PARIS INVESTMENT AGENCY AND KPMG
3
WHY THIS MONITOR?
The Greater Paris Investment Agency has been
established as a non-prot organisation more
than twenty years ago by the Paris Chamber of
Commerce and Industry. With over a hundred
major French and international rms, its
membership guarantees its independence.
Its missions include promoting Greater Paris
abroad and lobbying political and economic
decision-makers.
Since twenty years, the Greater Paris Invest-
ment Agency has conducted studies and
surveys designed to compare and benchmark
the present and future attractiveness, as well
as the reality and the perception of the Greater
Paris.
The Monitor is conceived to provide to
international decision-makers objective
arguments for their future investments. The
Greater Paris Investment Agency presents the
results during road shows organized in: Brazil,
United States, Japan, Korea, Gulf Countries,
Russia, India, China, Turkey

It is also a reliable tool to advise local, national
and international policy-makers worldwide.
The Monitor has been a useful basis for the
Greater Paris Investment Agency to attract
new investors and to foster the development of
innovative clusters and in framing the Grand
Paris Project.
THE GREATER PARIS INVESTMENT AGENCY
3
KEY POINTS
International Greeneld Investments grow worldwide in 2011 for the rst time in three years.
They concentrate ever more in the Global Cities: 50% go to the top 5.
1. Investors focus on basic criteria to select locations: political stability, economic growth. And
furthermore, they pay more and more attention to accessibility of skilled HR and to quality of education.
2. Europe is still the rst source and destination of International Greeneld Investment, far ahead of
America and Asia. The Greater Paris is the most attractive city in continental Europe, both in image
and in reality.
3. BRIC cities take the lead in the Top 10. Shanghai and Hong Kong are rmly established in the Top 3.
So Paulo, Moscow and Mumbai continue their rapid ascent.
4. New York and San Francisco manage a remarkable comeback in the Top 10 as digital Smart Cities.
San Francisco becomes a particularly strategic location for R&D centers and IT headquarters.
5. Greater Paris is in fourth position globally in the last ve years. It benets from an excellent image
in BRIC countries but also attracts an increasing share of their investments, in a stable market.
The Greater Paris Project will build on that favorable trend in the next years.
4
5
METHODOLOGY
A SCIENTIFIC APPROACH BASED ON A REPRESENTATIVE SAMPLE
Northern America
United States ................. 60
Canada ........................... 26
Mexico ........................... 15
Total ............................. 101
Gulf Countries
Saudi Arabia ................. 17
United Arab Emirates ... 29
Koweit and Qatar ............ 9
Total .............................. 55
Europe
Germany ....................... 25
France ........................... 25
United Kingdom ............ 25
Italy ............................... 20
Spain ............................. 20
Netherlands .................. 15
Turkey ........................... 10
Belgium ........................ 10
Switzerland .................. 20
Sweden ......................... 10
Austria .......................... 10
Total ........................... 190
Asia
Japan ............................ 25
South Korea .................. 20
Singapore ..................... 20
Total .............................. 65
BRIC
China ............................. 20
Hong Kong .................... 20
Russia ........................... 20
India .............................. 21
Brazil ............................ 20
Total ............................ 101
PERCEPTIONS
camembert p4
TURNOVER (in euros)
35%
23%
42%
More than
5 billions
Between
500 millions
and 5 billions
Less than
500 millions
camembert p4
BUSINESS ACTIVITY
18%
32%
23%
27%
IT
Consumer
Goods
Services
Heavy
Industry
America
camembert p4

COMPANIES BY COUNTRY OF ORIGIN
47%
36%
Greater
Europe
8%
BRIC
8%
Asia
1%
Gulf
Countries
A poll conducted by
opinionway
The innovative research compagny
Representative sample of
512 companies with international
business settlements
25 countries
3 criteria:
- Headquarter location
- Industry
- Turnover
Phone interviews with global business leaders
(CEO, managing director, administrative and nancial
manager, sales manager, head of international
investment)
From 23
rd
November to 15
th
December 2011
POSITION OF THE INTERVIEWEE
Financial Director /Manager
Development Manager
1%
Sales Manager
4%
Others
12%
CEO
7%
59%
Marketing/Communication
Manager
17%
Human Resources Manager
5%
5
Berlin
METHODOLOGY
AN OBJECTIVE FOCUS ON THE LATEST INVESTMENTS
The annual period begins with the fourth trimester:
2011
4th trimester
2010
1
st
trimester
2011
2
nd
trimester
2011
3
rd
trimester
2011
22 Global Cities
Selection criteria:
- The largest cities in terms of GDP
- The most open economies
The cities are distributed amont the continents
according to the zones relative weigth in international
investments
International Greeneld Investments
The Monitor measures the number of published
International Greeneld Investments collected by
the fDI Markets data.
International Greeneld Investments occur when a
company launches new activities in a Global City. They
build up its economic potential and create jobs. Purely
nancial investments, like real estate transactions,
privatisations or alliances are not included. Joint
Ventures are included only when they result in job
creation.
Database :
fDI Markets Financial Times, from January 2003
132,000 international investment projects
40,000 businesses all over the world
9,000 information sources: newspapers,
magazines, associations, websites
So Paulo

Moscow
Montreal
New York
San Francisco
Mexico

Hong Kong
Shanghai

Mumbai

Barcelona
Brussels
Paris

Madrid
Stockholm

Istanbul
Tokyo
Seoul
Beijing
REALITY
Frankfurt
Amsterdam
London
6
7
SUMMARY
The Greater Paris Investment Agency ............................................................................................................................................................................................................................................................... P2
Key points ................................................................................................................................................................................................................................................................................................................................... P3
Methodology: a scientic approach based on a representative sample ........................................................................................................................................................................... P4
Methodology: an objective focus on the latest investments ......................................................................................................................................................................................................... P5
Summary ........................................................................................................................................................................................................................................................................................................................................ P6
Perception benchmarks .................................................................................................................................................................................................................................................................................. P7
Global image : Paris the third worldwide ....................................................................................................................................................................................................................................................... P8
Global image : Paris is well perceived everywhere .............................................................................................................................................................................................................................. P9
Perceived attractiveness Paris in the top 7 ................................................................................................................................................................................................................................................ P10
Global image/perceived attractiveness focus on top Global Cities ..................................................................................................................................................................................... P11
Investment Criteria seek of stability ................................................................................................................................................................................................................................................................. P12
Criteria global ranking : reinforcement of Asian cities ................................................................................................................................................................................................................... P13
Overall ranking the mean of the combined rankings ........................................................................................................................................................................................................................ P14
Reality benchmarks .............................................................................................................................................................................................................................................................................................. P15
Europe rst destination of international investments ..................................................................................................................................................................................................................... P16
Europe, the main investor in Global Cities .................................................................................................................................................................................................................................................. P17
Europe : the most attractivecontinent in the world ............................................................................................................................................................................................................................ P18
Advantage to concentration........................................................................................................................................................................................................................................................................................ P19
The New Leaders .................................................................................................................................................................................................................................................................................................................. P20
3 Chinese cities join the top competitors ...................................................................................................................................................................................................................................................... P21
Investors seek top venues ........................................................................................................................................................................................................................................................................................... P22
Paris versus China in the R&D competition ................................................................................................................................................................................................................................................ P23
A diversied economy: advantage to Paris ................................................................................................................................................................................................................................................. P24
Paris at the top with Shanghai for manufacturing investments ............................................................................................................................................................................................. P25
Greeneld Investments by sector: Focus on Paris .............................................................................................................................................................................................................................. P26
Report 2006 / 2010: real top Global Cities .................................................................................................................................................................................................................. P27
A new global ranking ........................................................................................................................................................................................................................................................................................................ P28
China and europe: compete for global leadership ............................................................................................................................................................................................................................... P29
Global Cities: a competition more open than ever ............................................................................................................................................................................................................................... P30
The Greater Paris Investment Agency. Our membership: global & major companies ..................................................................................................................................... P31
CONTENU MODIFIER
LA TOUTE FIN
7
PERCEPTION BENCHMARKS
GLOBAL CITIES INVESTMENT MONITOR 2012
Chrysler Building
(318m)
New York
Gherkin Tower
(180m)
London
Burj al Arab
(321m)
Dubai
La Dfense
(111m)
Paris
Bank of china
(226m)
Hong Kong World Financial
Center
(492m)
Shanghai
8
Paris arrives rst in continental Europe and is ranked
3rd in terms of spontaneous global image. It even
gains some ground.
Paris, New York and London lead for the third year.
Hong Kong and So Paulo improve their image while
Sydney and San Francisco disappear from the Top 10.
Besides being a city New York City is a brand :
cinema, established decision centers and major
headquarters convey its image.
Investment Funds Advisor, New York
The British capitals supremacy comes as a
surprise. London has a more simplied labor
code than most of the other European countries
and its Anglo-Saxon touch makes it closer to
North America. Finally, London is a leading
nancial center, which benets from very
important capital ows.
Communication & IT, Paris
CITIES GLOBAL IMAGE
According to you, which 3 cities or major world capitals have the best overall image?
TOP 10
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54%
43%
33%
15%
11%
10%
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6%
5% 5% 5% 5% 5%
3% 3% 3% 3% 3% 3%
So Paulo

New York
Berlin
London
Paris
43
33
8
5
Singapore
10
Tokyo
9
Shanghai
15
Hong Kong
11
GLOBAL IMAGE
PARIS THE THIRD WORLDWIDE
Toronto
6
54
9
GLOBAL IMAGE
PARIS WELL PERCEIVED EVERYWHERE
This year again, Paris, New York and London enjoy
a large consensus regarding their image. They are
ranked in the rst ve in all regions.
Shanghai and Hong Kong are also well perceived but
not in all regions.
Dubai or Berlin have a strong reputation but in their
respective regions only.
A new phenomenon appears: Asia is now
looking more and more toward the West and
the Western Cities.
Communication, London
CITIES REGIONAL IMAGE
According to you, which 3 cities or major world capitals have the best overall image ?

London
London
New York
New York
Paris
Paris
Shanghai
Berlin
Hong kong
So Paulo
London
Dubai
Paris
New York
Singapore
AMERICA
Top 5

London
New York
Paris
Shanghai
Hong kong
BRIC
Top 5
GULF COUNTRIES
Top 5

Tokyo
New York
Shanghai
Paris
London
ASIA
Top 5
EUROPE
Top 5
10
PERCEIVED ATTRACTIVENESS
PARIS IN THE TOP 7
CITIES GLOBAL ATTRACTIVENESS
According to you, which 3 major world capitals are currently the most attractive
locations for setting up a business generally (either your business or other businesses)?
Shanghai is an "El Dorado.
The city is immensely attractive and
the growth there is extraordinary.
IT, Paris
Sydney ............................................................... 3%
Rio de Janeiro.................................................3%
Moscow ............................................................. 3%
Shanghai ........................................................29%
New York ........................................................20%
London ............................................................14%
Beijing .............................................................14%
So Paulo .......................................................12%
Singapore ......................................................12%
Paris .................................................................10%
Mumbai. ..........................................................10%
Hong Kong ....................................................... 8%
Tokyo .................................................................. 6%
TOP 10
New Delhi ........................................................ 6%
Toronto .............................................................. 4%
Houston............................................................. 3%
Amsterdam ..................................................... 3%
Dubai .................................................................. 3%
Dusseldorf ..................................................... 3%
Frankfurt ......................................................... 3%
11-20

20
New York
14
London
12
So Paulo
12
Singapore
10
Paris
10
Mumbai

Beijing
14
Tokyo
6
Shanghai
29
The citys anticipated growth is a strong component
of its perceived attractiveness. The ranking tends to
favour fast-growing economies. Shanghai, Beijing,
So Paulo and Mumbai enjoy better opinions
regarding their attractiveness than their image.
Some Global Cities, New York, London and Paris, tend
to be well ranked both in image and in attractiveness.
Among them, Paris gains ground and moves up to the
7th position.
Hong Kong
8
11
GLOBAL IMAGE/PERCEIVED ATTRACTIVENESS
FOCUS ON TOP GLOBAL CITIES
Only seven to eight top Global Cities are spontaneously
distinguished both for their image and their
attractiveness by international investors. They enjoy
the most stable rankings, dominating other Global
Cities. The others may enjoy a good image but lack
attractiveness. Their rankings tend to be much more
uctuant, year on year.
For example, New York ranks rst, both for image
and attractiveness, whereas Beijing has a very high
perceived attractiveness but no corresponding global
image.
The Mayor of New York City does an extremely
ne job in terms of image, its without a doubt the
reason of its good perceived attractiveness.
Banking Industry, New York
Shanghai is the Chinese economic capital and the
driver of international growth driver. If companies
want to be part of this, they should be in Shanghai.
Real Estate, Milan
So Paulo has the atmosphere of a
North American megalopolis, despite being
located in South America.
Food Industry, London
+
1
1
RANKING FOR IMAGE
-
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K
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F
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A
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T
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-
25 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24
25
24
23
22
21
20
19
18
17
16
15
14
13
12
11
10
9
8
2
3
4
5
6
7
Houston
Rio
Sydney
Toronto
Berlin
Frankfurt
Dubai
New Delhi
Mumbai
Beijing
Paris
London
New York
Hong Kong
Shanghai
Singapore
So Paulo
Total Global Cities
Tokyo
Moscow
-
-
12

INVESTMENT CRITERIA
SEARCH FOR STABILITY
According to you, which of the following investment criteria
are the most important when choosing your location ?
Investors focus on four fundamental criteria: political
and juridical stability, economic growth, accessibility
of skilled human resources, market accessibility and
size.
They tend to upvalue the accessibility of skilled HR and
the quality of education.
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WORKFORCE AND
COST CRITERIA
QUALITY OF LIFE
AND RESEARCH
POLITICAL AND
ECONOMIC CONTEXT
13
CRITERIA GLOBAL RANKING
REINFORCEMENT OF ASIAN CITIES
Asian Cities are clearly dominant this year in
key criteria for investments.
On the contrary, European cities are slowing
down, except London, which is progressing.
PERCEPTION OF CITIES ATTRACTIVENESS, BY INVESTMENT CRITERION
1 2 3 4 5
Political stability and
juridical security
New York London Berlin Frankfurt Tokyo
Availability of skilled HR New York Mumbai London Shanghai Berlin
Economic growth Shanghai Beijing So Paulo Mumbai Hong Kong
Market accessibility and size Shanghai New York Beijing So Paulo London
Infrastructures New York London Shanghai Hong Kong Shanghai
Quality of education London New York Beijing Berlin Berlin
Living costs, salaries and tax levels Beijing Mumbai Shanghai New York Berlin
Availability and cost of real estate New York Mumbai Shanghai Beijing London
Quality of research and innovation New York London San Francisco Berlin Mumbai
Quality of life London New York Paris Berlin San Francisco
Total New York Shanghai London Beijing Berlin
14
OVERALL RANKING
THE MEAN OF THE COMBINED RANKINGS
The global hierarchy shows that top Cities tend to
enjoy a much more stable appreciation than cities
ranked less favorably.
The volatility observed for perceptions is also to be
found in reality.
Asian cities show a favorable and stable progression
in 2012: Hong Kong and Mumbai are gaining ranks.
Paris improves this year, moving from the 7th to the
6th position in global perceptions.
So Paulo

London
Mumbai
Beijing
New York
1
Shanghai
2
4
5
7
3
Berlin
9
Frankfurt
10
Paris
6
Hong Kong
8

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AMERICA
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13
18
EUROPE
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19
The global ranking is the mean of the previous results of the study based on investors perception of the Global Cities.
It combines elements of image with elements of attractiveness.
Brazil combines several criteria that make it
an attractive country: its political and juridical
stability, its strong growth and, above all,
its capacity to develop and keep talents thanks
to excellent business schools. The situation in
Brazil reminds of the Glorious Thirties in Europe
1250 Boulevard
Ren-Lvesque
(226m)
Montreal
Torre Agbar
(145m)
Barcelona
Transamerica
Pyramid
(260m)
San Francisco
La Dfense
(111m)
Paris
Sapphire Tower
(261m)
Istanbul
Imperial I et II
(249m)
Mumbai
REALITY BENCHMARKS
GLOBAL CITIES INVESTMENT MONITOR 2012
GLOBAL CITIES INVESTMENT MONITOR 2012 THE GREATER PARIS INVESTMENT AGENCY AND KPMG GLOBAL CITIES INVESTMENT MONITOR 2012 THE GREATER PARIS INVESTMENT AGENCY AND KPMG
16 17
EUROPE
China embodies the New World while the
United States of America and Europe stand as
the Old World
Thanks to big industries Europe is very attractive
to investors. Investments are made from all
different parts of the world, taking advantages
of their know-how and Europes political stability.
Europe is the rst investor in North America as well
as in Asia.
BRIC investments are relatively far behind. They
represent only 5% of the investments toward Europe.
Globally, intra-zone investments are losing ground
compared to intercontinental ones. It shows that
strategies and positions are more and more going
global.
ORIGINS OF INTERNATIONAL GREENFIELD INVESTMENTS,
BY WORLD REGIONS

North
America
16%
- 1 pts
22%
57%
9
%
2%
+2 pts
Europe
54%
- 10 pts

+9 pts
3
2
%
1
1
%
2
%
5
%

Asia
30%
- 3 pts
3
8
%
29%
2
%
6%
+2 pts

BRIC Brazil, Russia, India, China
Europe
North America
Asia
Middle East
Source : FDI Markets, Financial Times Ltd
-1 pt
-2 pts
+2 pts
FIRST DESTINATION OF INTERNATIONAL INVESTMENTS
16 17
EUROPE, THE MAIN INVESTOR
IN GLOBAL CITIES
China embodies the New World while the
United States of America and Europe stand as
the Old World
Thanks to big industries Europe is very attractive
to investors. Investments are made from all
different parts of the world, taking advantages
of their know-how and Europes political stability.
Despite its damaged image, Europes economy
is not dead and is still exporting rms and talents.
Investment projects are still under development.
Real Estate, Milan
ORIGINS OF INTERNATIONAL GREENFIELD INVESTMENTS,
IN SELECTED CITIES
Investments come mainly from Europe, except in
London, where the American investments remain the
most important.
The European share grows strongly in Asia, especially
in Mumbai and Shanghai, but decreases slightly in
New York.
Paris used to be mostly a destination for Western
Europe investments. It now attracts a larger number
of Asian investors. For instance, India and China are
the rst regional investors in the city.

20% 13%
47%
13%
7%
India
China
Singapore
Australia
Japan
Others
Europe
North America
Asia
Middle East
PARIS - FOCUS ON ASIA
New York
Paris
Shangai
Mumbai
Sao paulo
London
New York
Paris
Shangai
Mumbai
Sao paulo
London
28%
52%
20%
New York
So Paulo
New York
Paris
Shangai
Mumbai
Sao paulo
London
New York
Paris
Shangai
Mumbai
Sao paulo
London
32%
49%
2%
15%
2%
London
New York
Paris
Shangai
Mumbai
Sao paulo
London
New York
Paris
Shangai
Mumbai
Sao paulo
London
55%
32%
9%
1%
3%
Paris
New York
Paris
Shangai
Mumbai
Sao paulo
London
New York
Paris
Shangai
Mumbai
Sao paulo
London
37%
20%
38%
5%
New York
Paris
Shangai
Mumbai
Sao paulo
London
New York
Paris
Shangai
Mumbai
Sao paulo
London
Mumbai
22%
67%
4%
3%
4%
New York
Paris
Shangai
Mumbai
Sao paulo
London
New York
Paris
Shangai
Mumbai
Sao paulo
London
Shanghai
19%
10%
70%
1%
18 19
EUROPE: THE MOST ATTRACTIVE
CONTINENT IN THE WORLD
INTERNATIONAL GREENFIELD INVESTMENTS, BY WORLD REGIONS
For the rst time in 3 years, the number of International
Greeneld Investments has increased globally, with a 9%
growth (-8% in 2009 and -3% in 2010).
Two main but distinct geographic zones are the most
attractive: Europe and Asia, with respectively 36% and
28% of the investments.
With a 29% growth in investments, Latin America is a big
challenger.
13%
3
6
%
28%
6%
5% 10%
+15%
+4%
+5%
+9%
2%
Worldwide evolution : 9%
+21%
+29%
+14%
Oceania
North Am
erica
South Am
erica
& Caribbeans
Asia
Europe
Middle East
Africa
18 19
GLOBAL CITIES WEIGHT IN NATIONAL INCOMING INVESTMENTS
The 5 rst Global Cities concentrate 50% of the
investments in the 22 Cities.
This year again the International Greeneld
Investments grow more in the 22 Global Cities (11%)
than in the other cities (9%). In 3 years their share
in the International Greeneld Investments has
increased by 3 points (14% to 17%).
For instance, the share of International Greeneld
Investments going to Paris, increased considerably
between 2010 and 2011 (from 44% to 47%).
So Paulo is an economic capital and attracts
the majority of the investments in the country.
Brazil has a huge local market, where
international companies might want to
establish themselves in the coming years
IT & Communication, Paris
San Francisco
Mexico
New York
Montreal
So Paulo

>40%
30% to 40%
<20%
20% to30%
7%
13%
9%
6%
39%
Mumbai
12%
Hong Kong
14%
Beijing
9%
Seoul
41%
Shanghai
18%
Tokyo
48%
INVESTMENTS CONCENTRATE
IN MAJOR GLOBAL CITIES
Frankfurt
Berlin
Barcelona
Madrid
Brussels
London
Istanbul
Moscow
Stockholm
Amsterdam
Paris
39%
26%
23%
47%
37% 14%
7%
38%
38%
54%
37%
20 21
NEW TRENDS
SAME LEADERS BUT NEW CHALLENGERS
The Top 3 Global Cities London, Shanghai and
Hong Kong still dominate the competition for
International Greeneld Investments.
BRIC capitals are growing really fast. So Paulo is
ranked 4th with a 160% growth and Moscow, with a
60% increase of its investments, arrives in 8th
position.
Smart Cities such as New York (5th rank) and
San Francisco (9th rank) manage a remarkable
comeback into the top 10.
Paris, 6th on the world scale for Greenfield
International Investments, is by far leading in
continental Europe.
Brazil is a raw-material-rich country.
Several investments are made in this domain
such that the country could become an inuent
international exporter.
Funds Advisor, New York
INTERNATIONAL GREENFIELD INVESTMENTS, BY CITY
Number of Investments

TOP 10
L
o
n
d
o
n
389
H
o
n
g

K
o
n
g
239
S
o

P
a
u
l
o
195
N
e
w

Y
o
r
k
157
P
a
r
i
s
150
B
e
i
j
i
n
g
148
M
o
s
c
o
w
146
S
a
n

F
r
a
n
c
i
s
c
o
122
M
u
m
b
a
i
108
B
a
r
c
e
l
o
n
a
96
F
r
a
n
k
f
u
r
t
89
M
a
d
r
i
d
85
T
o
k
y
o
75
A
m
s
t
e
r
d
a
m
65
I
s
t
a
n
b
u
l
60
S
e
o
u
l
49
B
r
u
s
s
e
l
s
44
B
e
r
l
i
n
40
M
e
x
i
c
o
38
M
o
n
t
r
e
a
l
20
S
t
o
c
k
o
l
m
40
S
h
a
n
g
h
a
i
309
Beijing
Shanghai
Moscow
New York
So Paulo
195
309
Hong Kong
239
London
389
157
Paris
150
148
146
122
San Francisco
108
Mumbai
20 21
STRATEGIC FUNCTIONS
*
THE RISE OF SMART CITIES
NUMBER OF INVESTMENTS
San Francisco is the heart of the IT Business.
It is the only place where you can nd such
dynamics. Food Industry, London
In Shanghai, the manpower is strong and
increasingly qualified. IT, Paris
*STRATEGIC BUSINESS ACTIVITIES :
Customer contact centre, Design, Development & testing,
Education and training, Headquarters, Research and development,
Sales, Marketing & support, Shared services centre
International Greeneld Investments in strategic
functions concentrate in the top Global Cities and tend
to lead other investments.
They are more polarized than the generic International
Investments.
Thanks to good accessibility and exibility in the
job market, London is ranked rst. San Francisco,
investing in new technologies, doubles its investments
and rises from the 10th to the 3rd rank.
Because of challenging cities like San Francisco and
So Paulo, Paris goes from the 5th to the 7th rank.

S
h
a
n
g
h
a
i
S
a
n

F
r
a
n
c
i
s
c
o
L
o
n
d
o
n
B
e
j
i
n
g
P
a
r
i
s
H
o
n
g

K
o
n
g
S
o

P
a
u
l
o
M
u
m
b
a
i
M
o
s
c
o
w
N
e
w

Y
o
r
k
T
o
k
y
o
F
r
a
n
k
f
u
r
t
S
e
o
u
l
B
a
r
c
e
l
o
n
a
A
m
s
t
e
r
d
a
m
M
e
x
i
c
o
B
e
r
l
i
n
I
s
t
a
m
b
u
l
B
r
u
s
s
l
e
s
M
a
d
r
i
d
M
o
n
t
r
e
a
l
S
t
o
c
k
o
l
m
186
154
95
93
84 82
76
58
53
47
44 38
37
31 31
25
21 21
19
13 13 16
TOP 10

San Francisco
95
New York
58
So Paulo
84
Mumbai
53
Beijing
82
Hong Kong

Shanghai
154
93
Moscow
47
Paris
76
London
186
22 23
INVESTORS SEEK STRATEGIC LOCATIONS
In 2011, International Greeneld Investments in
headquarters increase by 25% whereas they were
decreasing in 2010.
Thanks to numerous investments in IT and nancial
services, London remains the leader, ahead of
San Francisco. In this very strategic sector,
investments tend to concentrate on the very top
Cities.
Paris keeps its 6th position. Investments in Parisian
headquarters are relatively diversied: they concern
the IT, the medical sector as well as consumer
products and services.
NUMBER OF INVESTMENTS
44

London
44
TOP 10 S
a
n

F
r
a
n
c
i
s
c
o
S
h
a
n
g
h
a
i
L
o
n
d
o
n
B
e
i
j
i
n
g
P
a
r
i
s
H
o
n
g

K
o
n
g
A
m
s
t
e
r
d
a
m
M
a
d
r
i
d
N
e
w

Y
o
r
k
B
a
r
c
e
l
o
n
a
M
e
x
i
c
o
M
u
m
b
a
i
S
o

P
a
u
l
o
S
t
o
c
k
o
l
m
M
o
s
c
o
w
B
e
r
l
i
n
F
r
a
n
k
f
u
r
t
I
s
t
a
n
b
u
l
T
o
k
y
o
S
e
o
u
l
M
o
n
t
r
e
a
l
B
r
u
s
s
e
l
s
26
23
13
9
8 8
7
6
5
4 3 3
2 2 2 2 2 2
1 1 1
San Francisco
26
Shanghai
23
Hong Kong
13 Beijing
9
New York
8
Amsterdam
7
Paris
8
Barcelona
Madrid
5
6
22 23
RESEARCH CENTERS
CONTRASTED RESULTS FOR THE MOST VALUABLE AND RARE INVESTMENTS
Undeniably, BRIC cities are gaining ground. they
are in the rst ranks for International Greeneld
Investments in research centers.
So Paulo benets from a young atmosphere
and a true entrepreneurship spirit.
The town is constantly in a fever of excitement
Nowadays, considering the digital era we are
going through, San Francisco and the Silicon
Valley are the heart of the world. Our future is
being created there. This is the best place to
undertake something and to innovate.
RANKING
TOP 10
M
o
s
c
o
w
S
h
a
n
g
h
a
i
1 1
B
e
j
i
n
g
S
o

P
a
u
l
o
2 2
L
o
n
d
o
n
M
u
m
b
a
i
S
a
n

F
r
a
n
c
i
s
c
o
B
a
r
c
e
l
o
n
a
3 3 3
3
P
a
r
i
s
S
e
o
u
l
4 4

San Francisco
London
Paris
Mumbai
Bejing
Shanghai
Seoul
3
3
4
So Paulo
Barcelona
Moscow
2
3
1
2
3
4
1

24 25
PARIS: A BALANCED ECONOMY
Paris, London and New York stand as mature
markets, where industry has ceased to be dominant,
in contrast with So Paulo, Mumbai and Shanghai.
In London and New York, investments in consumer
products and services (like textile, food, tourism or
entertainment) account for the largest share.
Paris stands out as the most diversied economy,
where industry and IT still play a signicant role
in balancing business and nancial services or
consumer products and services.
TYPE OF GREENFIELD INVESTMENT BY SECTOR OF ORIGIN
Sao paulo New York
London Paris
Shangai
Mumbai
Shangai Mumbai
Sao paulo
New York
London
Paris
So Paulo
20%
23%
4% 53%
Sao paulo New York
London Paris
Shangai
Mumbai
Shangai Mumbai
Sao paulo
New York
London
Paris

20%
44%
15%
21%
New York
Sao paulo New York
London Paris
Shangai
Mumbai
Shangai Mumbai
Sao paulo
New York
London
Paris
London
35%
35%
12%
18%
Sao paulo New York
London Paris
Shangai
Mumbai
Shangai Mumbai
Sao paulo
New York
London
Paris
Mumbai
40%
32%
9%
19%
Sao paulo New York
London Paris
Shangai
Mumbai
Shangai Mumbai
Sao paulo
New York
London
Paris
Paris
37% 24%
17%
22%
Sao paulo New York
London Paris
Shangai
Mumbai
Shangai Mumbai
Sao paulo
New York
London
Paris
Shanghai
8%
23%
13% 56%
Business & Finance Services
Consumer Products & Services
Industry, Energy & Equipment
IT & Communication
24 25
STRATEGIC FUNCTIONS
INVESTMENTS IN ACCELERATION
In the selected Global Cities, strategic functions
account for the largest, fastest growing type.
Logically, cities from developed countries attract a
large share of services investments. On the contrary,
fast-growing cities such as So Paulo and Shanghai
still have a larger than the average share of the
industrial investments.
Paris remains in a good position regarding the
manufacturing and construction sectors.
TYPE OF GREENFIELD INVESTMENT BY SECTOR OF ORIGIN TYPE OF GREENFIELD INVESTMENT BY FUNCTION
New York
Paris
Shangai
Mumbai
Sao paulo
London
New York
Paris
Shangai
Mumbai
Sao paulo
London
London
50% 48%
1%
New York
Paris
Shangai
Mumbai
Sao paulo
London
New York
Paris
Shangai
Mumbai
Sao paulo
London
62%
37%
1%
New York

So Paulo
New York
Paris
Shangai
Mumbai
Sao paulo
London
New York
Paris
Shangai
Mumbai
Sao paulo
London
25%
43%
1%
31%
Paris
New York
Paris
Shangai
Mumbai
Sao paulo
London
New York
Paris
Shangai
Mumbai
Sao paulo
London
50%
45%
5%
Mumbai
New York
Paris
Shangai
Mumbai
Sao paulo
London
New York
Paris
Shangai
Mumbai
Sao paulo
London
44%
7%
55%
Shanghai
New York
Paris
Shangai
Mumbai
Sao paulo
London
New York
Paris
Shangai
Mumbai
Sao paulo
London
30%
20%
50%
Strategic functions
Services
Manufacturing & Construction
Other functions
1%
GLOBAL CITIES INVESTMENT MONITOR 2012 THE GREATER PARIS INVESTMENT AGENCY AND KPMG GLOBAL CITIES INVESTMENT MONITOR 2012 BY THE GREATER PARIS INVESTMENT AGENCY AND KPMG
26 27
26
FOCUS ON PARIS
TOP 10 ACTIVITIES
A diversied economy is one of Paris assets.
Informatics, new technologies and business services
dominate.
But Paris is also well positioned in specic sectors,
such as textile, tourism and gastronomy. Paris is indeed
the rst touristic destination in the world.
Besides, the industrial sector, machinery, automobile,
equipment and tools represent investments of high
added value.
Business Services
1
5
%
Textile
1
4
%
Communications
8
%
Financial Services
6
%
Consumer Products
5
%
Food & Tobacco
4
%
Hotels & Tourism
3
%
Aerospace
2
%
Business Machines & Equipment
2
%
2
4
%
Software & IT Services
TOP 10 ACTIVITIES
Paris remains an emblem for the international
competition. IT, Paris
GLOBAL CITIES INVESTMENT MONITOR 2012 BY THE GREATER PARIS INVESTMENT AGENCY AND KPMG
26 27
REPORT 2007/2011
REAL TOP GLOBAL CITIES
Torre Caja
(250m)
Madrid
Torre Mayor
(225m)
Mexico
Mirante do Vale
(170m)
So Paulo
La Dfense
(111m)
Paris
Kista Science
Tower
(123m)
Stockholm
Westend Strasse 1
(208m)
Frankfurt
28 29
THE GLOBAL RANKING
Looking back to the past 5 years, Chinas leadership
is striking: today 3 Chinese cities belong to the
Top 5.
In 2011, London increases by 26%, Shanghai by
7% and Hong Kong by 6%.
In the past 2 years, So Paulo an Moscow grow
spectacularly.
Paris is stable at the 4th rank.
The competition is getting more and more intense
and gaps are narrowing fast.
LAST 5 YEARS GLOBAL RESULTS, 2007 TO 2011
Number of Investments
The centers of gravity have moved.
But Europe remains a key destination
S
h
a
n
g
h
a
i
H
o
n
g

K
o
n
g
L
o
n
d
o
n
B
e
i
j
i
n
g
M
o
s
c
o
w
P
a
r
i
s
S
o

P
a
u
l
o
M
a
d
r
i
d
N
e
w

Y
o
r
k
B
a
r
c
e
l
o
n
a
M
u
m
b
a
i
1476
1458
1023
904
834
500 498 496
Beijing
Shanghai
Paris
London
688
450 447
445
347
319
290
257
198 193 186
185
174
109
M
e
x
i
c
o
S
t
o
c
k
o
l
m
B
e
r
l
i
n
F
r
a
n
k
f
u
r
t
I
s
t
a
n
b
u
l
T
o
k
y
o
S
e
o
u
l
M
o
n
t
r
e
a
l
B
r
u
s
s
e
l
s
S
a
n

F
r
a
n
c
i
s
c
o
A
m
s
t
e
r
d
a
m
TOP 10
1476
498
1458
Hong Kong
1023
834
688
450
Madrid
Barcelona
904
496
So Paulo
New York
Moscow
500
28 29
Unlike Russia, Brazil succeeds in being
self-financed. Local investors treat their own
country with priority. Moreover, Brazil is fought
over by foreign investors
Advisor, New York
EUROPE AND BRIC
COMPETE FOR GLOBAL LEADERSHIP
With 1,476 investments in 5 years, London is the
leader of the ranking.
China is obviously gaining leadership in the worldwide
economy through the development of 3 major cities:
Shanghai, Hong Kong and Beijing.
Paris keeps a 8% market share and the 4th rank,
globally.
TOP 5 CITIES EVOLUTION, 2007 TO 2011
Mumbai
0
50
100
150
200
2006 2007 2008 2009 2010
111
120 120
108
194
88
86
107
78
68
43
51
61
65
126
0
50
100
150
200
2007 2008 2009 2010 2011
London
100
150
200
250
300
350
400
2007 2008 2009 2010 2011
148
161
157
171
231
161
215
149
201
191
192
170
150
276
233
270
308
389
284
290
333
242
309
239
225
Shanghai
Hong Kong
Paris
239
Beijing
Mumbai
So Paulo
Moscow
120
120
108
194
146
86
107
78
68
108
51
65
126
61
195
0
50
100
150
200
2006 2007 2008 2009 2010
111
120 120
108
194
88
86
107
78
68
43
51
61
65
126
0
50
100
150
200
2007 2008 2009 2010 2011
London
100
150
200
250
300
350
400
2007 2008 2009 2010 2011
148
161
157
171
231
161
215
149
201
191
192
170
150
276
233
270
308
389
284
290
333
242
309
239
225
Shanghai
Hong Kong
Paris
239
Beijing
Mumbai
So Paulo
Moscow
120
120
108
194
146
86
107
78
68
108
51
65
126
61
195
Number of investments
FOCUS ON BRIC CITIES (EXCEPT CHINA), 2007 TO 2011
Number of investments
30 31
GLOBAL CITIES:
A COMPETITION MORE OPEN THAN EVER
The Global Cities Investment Monitor is a unique
worldwide survey conducted exclusively by the Greater
Investment Agency in partnership with KPMG. It ranks
the attractiveness of the Top Cities which compete at the
global level.
There is no strict denition for a Global City, but all have in
common to set a stimulating environment where nancial
and business innovation meets top decision-makers. They
are focal points whose inuences reach all continents, both
densely linked with one another and intensely competing
to dene the best economic, urban and political standards.
Competition among Global Cities is more open than ever
before. For most of the twentieth century, Paris, London,
New York were the Top Triad. Berlin was sidelined in the
course of world wars. Moscow stood in the Soviet Bloc
apart from economic competition. Tokyo was probably the
rst strong challenger.
Even with a much more open competition, very few cities
can hope to count among the top global ones. As the
Monitor shows, either the perceptions of the investors or
the real investments tend to focus on a handful of cities
and concentrate there.
The Greater Paris Investment Agency has conducted for
more than 15 years studies to compare and rank European
cities. The Global Cities Investment Monitor is the rst
yearly global benchmark study. It fully acknowledges the
changing global hierarchy.
What can Paris, a long-standing Global City, expect from the
Monitor? It demonstrates that Paris enjoys a remarkable
image and attractiveness. It shows that Paris is very well
placed in terms of real investments too, even better than
its image suggests.
The Monitor is a unique instrument for the Greater Paris
Investment Agency to advocate and support world-class
investments in infrastructure, architecture, and clusters
in the Greater Paris, so as to make it one of the world-class
business capitals of the twenty-rst century.
30 31
Aroports de Paris, Air France KLM, Altran technologies, Axcior, Bal du Moulin Rouge,
Bain&Company, BNP Paribas, Bouygues Btiment Ile-de-France, Cabinet Caillau Dedouit &
associs, Cabinet Fidal International, Caisse des Dpts et Consignation Ile-de-France, Chambre
de commerce et d'industrie de Paris, Chambre de commerce et d'industrie de Versailles,
Val d'Oise/Yvelines, Chambre des Notaires de Paris, Chambre rgionale de commerce et d'industrie
Paris Ile-de-France, Cisco, Clifford Chance, Colas S.A., Colony Capital Europe, Comexpo Paris,
Credit Agricole CIB (Calyon), Defacto, Deloitte&Touche, Ecole Normale de Musique de Paris, EDF,
Ernst&Young, Etablissement public pour l'amnagement de La Dfense Seine Arche (EPADESA),
Fdration nationale des travaux publics, Fdration rgionale des travaux publics, FNAIM Paris
et Ile-de-France, France Amriques, France Tlcom, G7 Entreprises, Galeries Lafayette,
GDF Suez, Gecina, Generali, Generale Continentale Investissements, Gide Loyrette Nouel,
GMC, Goetzpartners, HCL, Herms, Hermitage Lifestyle, GP, JC Decaux SA, Klepierre, KPMG,
La Poste, LG, Marne-la-Valle Epamarne/ Epafrance, Mazars, McKinsey & Company Inc., Medef
Ile-de-France, Medef Paris, Port Autonome de Paris, Prsence, PricewaterhouseCoopers, RATP,
Randstad, Rgus, SILIC, SNCF, Stehlin et Associs, Tata, Total, Unibail-Rodamco, Vinci Construction
France - Ile-de-France, Viparis, Wipro Technologies
THE GREATER PARIS INVESTMENT AGENCY
OUR MEMBERSHIP: GLOBAL&MAJOR COMPANIES
KPMG S.A. is the leading audit, accounting and advisory
rm in France*, employing 7 570 professionals located
in 217 cities. In 2011, the turnover of KPMG S.A. was
839m.
KPMG is the member of KPMG International Cooperative,
a global network of professional rms providing Audit, Tax
and Advisory services with a presence in 150 countries
accross the world. KPMG counts 145 000 professionals
and generated $22,7 billion in sales.
The network is structured in three regions : Americas,
Asia-Pacic, and EMEA (Europe Middle East Africa).
(*Source: La Profession comptable 2010)
www.kpmg.fr
Greater Paris Investment Agency is a non-prot
organisation founded over twenty years ago by the Paris
Chamber of Commerce and Industry to attract new
international investors in Greater Paris and to bolster its
attractiveness.
It is comprised of more than one hundred major French
and multinational companies; they guarantee a total
independence and provide with support in fullling the
Associations main missions.
As greater Paris business Ambassador, our Agency
is your priviliged partner and advisor: bridging both
governmental decision-makers and our prestigious
business partners network.
Chiara Corazza
Managing Director
7, rue Balzac - 75008 Paris
+33 (0) 1 55 65 74 80
www.greater-paris-investment-agency.com
ISBN 2-914687-10-9 EAN 9782914687102 ICONOGRAPHIE Fotol ia XDR

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