Investment in Moscow: Investment climate factors

Moscow is one of the largest cities in the world in terms of economically active population, with skilled labor force.

The Moscow labor force exceeds 7 million people, with an average annual employment growth rate of about 2% over the past five years. In addition, Moscow attracts the most competitive and skilled labor force from other regions of Russia and the world.

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Labor force in Moscow, million people

Source: Rosstat.

 About half of Moscow's working population in the employment structure is concentrated in the field of business and financial services, including research& development and IT services (24.2% of the total number of employees), as well as wholesale and retail trade (27.1%).

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Moscow employment structure according to economic activities in 2015, thousand people

Source: Rosstat.

 Moscow’s population has a high education level: 930 out of 1,000 working-age people have a professional education (481 of them have graduate and post-graduate degrees). According to PWC’s 2014 Cities of Opportunity report, Moscow was ranked eighth among the world's largest cities in its share of university-educated people in the total adult population.

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Global cities by share of university-educated people in the total adult population, 2015, %

Sources: Federal State Statistics Service, Eurostat, the Government of the Hong Kong SAR, Census Bureau.

Moscow has a low unemployment rate, namely 2.1% (in 2016), which is less than in most other megacities of the world.

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Unemployment rate in different cities of the world in 2016, % of economically active population

Sources: Euromonitor International

In 2016, an average monthly salary in Moscow amounted to 71.2 thousand rubles, according to Mosgorstat. (1062 US dollars). The highest salaries are in the field of financial and IT services, research&development and public administration.

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Average monthly salaries in Moscow according to economic activities, 2016, US dollars

*According to the average annual US dollar exchange rate of the Bank of Russia in 2016.
Source: Mosgorstat.

 In terms of labor costs, Moscow has an advantage over most of the world's megacities and is comparable to the megacities of South-East Asia and the capitals of Eastern Europe. In July 2017, the average hourly rate was 5.5 US dollars.

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Average hourly rate in different cities of the world*, July 2017, US dollars

*With 22 working days per month and a 8-hour working day.
Sources: Numbeo (calculations of the Moscow City Investment Agency).

Labor force in Moscow, million people

Source: Rosstat.

Moscow employment structure according to economic activities in 2015, thousand people

Source: Rosstat.

Global cities by share of university-educated people in the total adult population, 2015, %

Sources: Federal State Statistics Service, Eurostat, the Government of the Hong Kong SAR, Census Bureau.

Unemployment rate in different cities of the world in 2016, % of economically active population

Sources: Euromonitor International

Average monthly salaries in Moscow according to economic activities, 2016, US dollars

*According to the average annual US dollar exchange rate of the Bank of Russia in 2016.
Source: Mosgorstat

Average hourly rate in different cities of the world*, July 2017, US dollars

*With 22 working days per month and a 8-hour working day.
Sources: Numbeo (calculations of the Moscow City Investment Agency).