The latest European Cities Growth Index (ECGI) by LaSalle Investment Management estimates that London and Paris will account for more growth than Europe’s next nine cities combined.

Elsewhere, benefiting from demographic trends, a skilled workforce and world-leading pharma, industrial tech and creative industries, the Nordics also rank highly, accounting for a quarter of the top 20 cities.

The company calculates its Index by using weighted data inputs on economic growth, human capital, business risk and extreme weather.

London leads as Europe’s top city for projected real-estate occupier demand, followed by Paris, according to this year’s edition of the ECGI. The firm reports: ‘Owing to their large metropolitan areas and ability to adapt to changing macroeconomic conditions, these top two drive unparalleled growth compared with the other European cities in the index, generating over 30% of all economic output in their respective countries and are forecast to single-handedly account for a sixth of European absolute growth in the next decade’

However, Paris has overtaken London as the top destination for venture capital funding for the first time since LaSalle began tracking this data in 2006, receiving particularly elevated levels of investment into its technology sector.

The index registered strong growth prospects for the entire Nordic region. The region’s world-leading exporters in industries like life sciences, wind power infrastructure and industrial tech have driven relative gains in productivity and economic growth prospects. This is reflected in the performance of the region’s cities in the ECGI, with Stockholm in third position, and Copenhagen and Helsinki joining the top five and 20 respectively for the first time in the index’s history.