Warsaw continues to build its reputation as a key business hub in Europe after securing third place in fDi Intelligence’s latest ranking of cities with the strongest investment prospects. The annual report, produced by the Financial Times’ specialist foreign investment unit, evaluates urban centres across the continent for their ability to attract and sustain future growth.

The study examined 521 European cities and regions, measuring performance across five core areas: economic strength, talent and quality of life, affordability, connectivity, and the overall ease of doing business.

In the “major cities” category, Warsaw improved its position compared to last year, climbing from fourth place to third. Only London and Dublin ranked higher, highlighting the Polish capital’s growing role within Europe’s investment landscape.

According to the report, Warsaw has generated more foreign direct investment–related jobs than any other European city over the past five years. Global companies including Google and Visa have contributed to this momentum, reinforcing the city’s appeal among multinational investors.

Technology remains a particularly strong driver of growth. Analysts pointed to Warsaw’s rapid rise as a software development centre, noting that the city has attracted more than $1 billion in industry-specific foreign investment since 2020. Recent announcements from Microsoft and Google suggest that this trend is set to continue.

Beyond raw investment figures, Warsaw also performed strongly in qualitative categories. The city placed second for both business friendliness and human capital and lifestyle — again trailing only London. It additionally ranked sixth for economic potential and ninth for cost effectiveness, underlining its balance between opportunity and affordability.

The results reinforce Poland’s broader momentum on the European investment map, with cities beyond the capital — notably Kraków and Wrocław — also earning top positions among mid-sized urban centres.