North Rhine-Westphalia (NRW) has achieved an excellent position in the European Cities and Regions of the Future 2024 ranking, underlining its position as a dynamic business location and innovation centre in Europe. With a diversified economic structure and a thriving start-up scene, the state of NRW has been able to further increase its attractiveness for companies and investors and establish itself as a centre for business and innovation.
Due to its historical position as an industrial location with a high dependency on energy-intensive processes, NRW is of particular importance in the transformation to a climate-neutral and energy-independent industrial region. The share of renewable energies in gross electricity generation has risen steadily in recent years to just under 19% in 2020 (from around 10% in 2016), but still lags well behind the overall average for Germany (just under 44% in 2020). Initiatives such as Fin.Connect.NRW are endeavouring to accelerate the climate transformation in the region.
The reasons for NRW's success are its strategic location in the heart of Europe, its extensive infrastructure and its highly qualified labour force. NRW also has an efficient research and development landscape that drives innovation and promotes cooperation between companies, universities and research institutions.
The recognition in the European Cities and Regions of the Future 2024 Ranking is therefore also a confirmation of NRW's successful efforts to promote sustainable and future-oriented development. Through ongoing investment in climate transformation, innovation, education and infrastructure, NRW will continue to play a decisive role in the European Economic Area and demonstrate how economic growth and environmental protection can be successfully combined.
