The ranking is based on five factors: economic potential, business environment, human capital and quality of life, cost efficiency and communications, and the city‘s strategy for foreign investment attraction.

In 2004, Vilnius won the Financial Times Eastern European city of the future award.

Vilnius mayor Remigijus Šimašius said: “The award that we received this year shows that, within twelve years, Vilnius turned from a promising Eastern European city into a growing Baltic capital with its own vision, strategy and outlook for the future to be not one of the three, but the best place in the region for turning dreams into reality.”

Only Zurich and Edinburgh was ahead of Vilnius in the European Cities and Regions of the Future rankings.

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