'Investibiltiy': The key to competitive regions and cities?

This article proposes and develops a concept - investability that can be used for analysing the competitive position of cities or regions, and formulating policy responses. It can be defined as conditions that are conducive to a higher level of investment and refers principally to the business environment in which economic agents operate. The paper discusses various influences on investment decisions and how they will impinge on different classes of potential investors. Policy implications are developed and the ways in which the concept might be used in policy making are examined.