European cities medium-term outlook remains stable amid rising infections

In spite of global supply-side issues and another wave of Covid-19 infections at the end of 2021, we expect GDP in 22 of Europe’s 25 major cities to exceed pre-pandemic levels by 2022. Over the next five years, economic growth will be led by a group of eastern cities (Warsaw, Sofia, Prague), with Madrid and Barcelona also forecast to see fast expansion.

What you will learn:

• All major European cities will see above-trend GDP growth in 2022.
• Over the medium term the eastern cities will lead economic growth, and among the western cities we forecast Madrid, Barcelona, and London to perform strongly.
• In terms of office-based sectors, we forecast London and Madrid will see the largest numbers of new jobs by 2026, with Paris, Budapest and Barcelona also making sizeable gains.