In Montreal, we like restaurants. We like to eat and we’re good at it.
And now, according to a new report by relocation experts Movinga, Montreal is one of the best cities in the world to open a new restaurant.
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Movinga launched a series of studies looking into the best locations for a new business opportunity, and in a recent study, it focused on worldwide locations where opening a new restaurant is not only possible, but sustainable.
The report studied 75 cities from around the globe and factored in each city’s real estate cost, human capital, and hospitality ecosystem, on a scale from 0 to 100 and ranked each spot on a total score.
Montreal placed ninth, according to Movinga, with a total score of 88.90, wedged in between Lyon, France and Bratislava, Slovakia.
The real estate cost reflected the current prices for commercial real estate available in the restaurant industry while the human capital score valued the number of people working in accommodation and food service activities, on a city-wide level. The hospitality ecosystem score indicated each city’s overall ecosystem for setting up a hospitality-based business.
Lisbon, Barcelona, and Instanbul took home the top three global spots for opening a business, with scores of 100.00, 99.62, and 97.17, respectively.
The ranking’s full methodology, as well as studies on tech and digital ventures, entrepreneurs, and import/export business, can be found online.