11 Jul Milan and Rome are among the most innovative cities in Europe: in 18th and 29th place respectively
The “Innovation Geographies” report presented by JLL shows the ranking of the cities that invest the most in research and development, along with those more able to attract talent.
The study globally covers more than 100 cities and analyses a wide range of factors, with the aim of classifying them based on their ability to invest in research and development, and to attract talent, elements that have an important impact on the international real estate market, as well as on investor choices.
The innovation index is elaborated on the basis of indicators such as foreign direct investments in high technology, research and development expenditure, and the demand for international patents. The talent concentration index, on the other hand, takes into consideration the number and quality of universities, the percentage of university students and the employment rate in the technology sector.
Milan and Rome stand out in the European classification of innovation for different reasons.
The Lombard city ranked higher than the capital thanks to a greater volume of direct foreign investments: during the 2015-2018 period, 30% of them concerned the high-tech sector, against the 27% registered in the capital. The number of high-tech employees in Rome are in line with the global average (9.1%), while in Milan they reached 10.9%.
In Milan, 66% of investments were dedicated to ICT technologies and internet infrastructures; in Rome this percentage is 60%, followed by software and IT investments. Milan is 36th on a global level for the number of patents registered between 2015 and 2017 (there are 1,359). Rome is far behind with 492 patents, and thus is in 75th place in the world rankings.
“On a national level, Milan is the Italian city in which we have invested the most in research and development, thus establishing itself, in the last few years, as a centre of innovation and growth, able to attract a constant influx of foreign capital. Rome hosts the offices of numerous companies and stands out for the high number of university students, “says Pierre Marin, CEO of JLL Italy. “We observe these phenomena with interest, as the ability to foster innovation and attract talent is crucial today so as to be competitive in the real estate market and to be targeted by investors.”