BCG: Moscow aims to become one of the cities-leaders in the new economy

© RIA Novosti / Natalia to Seliverstova in fotobounce the Kremlin and the Kremlin embankment. Archival photoBCG: Moscow aims to become one of the cities-leaders in the new economy© RIA Novosti / Natalia to Seliverstova the image Bank

Moscow by 2025 will be included in the group of cities-leaders on competitiveness in the new economy while maintaining the pace of reforms, says «a Study of the competitiveness of Moscow in the sphere of the new economy», prepared by the Moscow office of consulting company The Boston Consulting Group, which is available to RIA Novosti.

The research covered 12 cities in the world, comparable in terms of GDP, population, innovation and the structure of the economy. In comparison with Moscow entered Berlin, Hong Kong, London, Mexico city, new York, Paris, Sao Paulo, Seoul, Singapore, Tokyo, Shanghai.

Experts BCG share of the studied cities into three groups: Metropolitan areas, have already formed a favorable environment for talents, investment and technology (new York, London, Paris, Seoul, Shanghai); the cities, where already achieved high availability of these resources for each of these areas (Singapore, Tokyo, Berlin, Moscow), and megacities-those lagging behind (Hong Kong, Sao Paulo, Mexico city) that are lagging behind or reached only the average level on these items.

The new economy today is the new strategy of competition of cities for talent, smart investment and technology through the creation of conditions for talent: opportunities for self-expression and quality of life, says the managing Director, the Chairman of BCG Russia Vladislav Boutenko.

«Economic competition among countries today turns into a competition between cities for human resources, investment and the presence of tech companies, with the most successful Metropolitan areas rely on talent as a key competitive advantage in the new economy,» he said.
Moscow and its resources

In the period 2011-2017 years, Moscow has developed its competitive advantage much faster than others, which allowed her to stand on a par with Metropolitan areas in terms of availability of resources (talent, infrastructure, funding). «Moscow is ahead of all other Metropolitan areas … in terms of growth employment share of the «Knowledge» category, which is a critical factor for the successful development of new economy» — experts say.

According to the survey, Moscow is among the top 10 desired locations for relocation and foreign qualified professionals, ahead of Tokyo and Singapore, and about 40% of qualified professionals is ready to consider Moscow as a city to live and work.

According to the survey, 9% of respondents named Moscow among the five cities outside their own country, the most attractive from the point of view of moving and work, this result has surpassed Tokyo, Singapore, Seoul and Hong Kong.

The study notes that the availability of Moscow Technopark zones exceeds almost all of the city samples, with the exception of Berlin. The quality of the Technopark infrastructure, from the point of view of the benefits of subsidies provided to the residents and support in many ways superior to similar deals in comparable cities.

Moscow ranks third in the number of technology startups, second only to new York (the 6.3–7.8 thousand) and London (4,3–5,9 thousand). Moscow today is at the level of Seoul (by 1.5–3.4 thousand) and ahead of San Paulo, Paris, Berlin, Singapore.

In terms of the share employed in R & d Moscow (3,5%) is comparable with the Paris (3.8%) and Berlin (3%). In terms of the share of companies engaged in technological innovation, the capital reached the level of South Korea (19%), increasing it one and a half times during the period 2011-2017 years.

«These achievements have yet to translate into viable results and thus catch up with world leaders. Moscow has the capability. … Moscow will be included in the group of cities-leaders on competitiveness in the new economy by 2025 while maintaining the pace of transformation in the implementation of an already established resource base in the competitive results,» they concluded in the BCG.