The Role of European Global Cities in the Inflow of FDI and Labor Migrants

Abstract

The article addresses the role of global cities in the inflow of foreign direct investment and labour migrants to Europe. Despite the concept of global cities being criticized due to its “west-centricity” it remains widely accepted interpretation of modern urban developments. The authors explore main factors attracting these economic resources to major cities, and identify how the comparative specifics of European global cities affect the usage of these resources. Different approaches to the interaction with labour migrants and FDI lead to diverse results cementing unique roles of global cities in their own countries. Crossexamination of causes, structures and effects of the forementioned factors constitutes the scientific and practical significance of the article. Based on the world‟s leading rankings of global cities the study reveals how each city advances socio-economic strategies in order to maintain their significant roles in inflow of FDI and labour migrants. In order to evaluate the significance of each city we distinguish the most developed and profitable sectors of economy. European urban agglomerations seek to attract highly qualified labour force that is able to contribute to their development. The outcomes of the research is useful for analysis the development of global cities in Russia.