According to the latest report by fDi Intelligence, four Serbian cities have ranked among the most attractive destinations for foreign direct investment (FDI)

April 23, 2025 – The fDi Intelligence report "European Cities and Regions of the Future 2025" evaluated a total of 379 cities and 142 regions across Europe. Serbian cities secured prominent positions across various categories, from large urban centers to small and micro cities.

Belgrade, Serbia’s capital, once again earned a standout position in this prestigious ranking. Among large cities, Belgrade ranked 5^th for human capital and lifestyle and 9^th for cost effectiveness. The city was recognized for its robust infrastructure, favorable business environment, and strategic location, making it an appealing hub for international investors. Over the years, Belgrade has become a prime destination for service industries and multinational companies seeking expansion in Southeast Europe.

Among small European cities, Novi Sad and Kragujevac earned distinctions in different categories.

Novi Sad ranked 6^th in business friendliness among small European cities. As Serbia’s second-largest city, it is increasingly seen as a hotspot for tech investments. Novi Sad boasts a supportive business climate and a rapidly growing IT industry, with a rising number of startups making it particularly attractive to investors in emerging technologies.

Kragujevac ranked 8^th for cost effectiveness in the same category. Its low cost of living and business operations make it appealing to investors. The city’s strong industrial heritage and developed infrastructure make it an ideal location for investments in manufacturing and the automotive industry. As a university town, Kragujevac also stands out for its highly skilled workforce, adding further value for foreign investors.

On the list of micro cities, Leskovac secured 4^th place for cost effectiveness this year. Although it topped the same category last year, Leskovac remains a competitive investment destination thanks to its infrastructure and rich industrial tradition, particularly in the textile sector, which continues to draw interest from investors.

Serbia’s strong showing in this year’s report highlights its growing role as a dynamic and investor-friendly destination in the European market.