Lviv is the largest city in the Western region and the 7th largest city in Ukraine: its territory comes to 171.01 km2 and its population is about 735,000 inhabitants. Growing economic sectors in the region include public health, recreation and tourism. Lviv region has a valuable industrial potential with such key industry sectors as forestry, paper, textiles, food processing, agriculture, oil and gas. Future economic growth in the Western Ukraine is expected due to industrial development, with most industrial potential located in Lviv region.

· Lviv Region's share in the state scope of total industry production is up to 3%;

· The most investment spheres are tourism, recreation, and IT sector (according to the Exploring Global Frontiers report made by KPMG, Lviv is one among 31 locations worldwide recently emerging as viable business process and IT outsourcing hubs);

· Costs of leaving are low comparatively to other European countries and are average in Ukraine;

· The city has an active growing infrastructure within the region due to one of the best transportation systems in Ukraine that includes the most important railways, highways and pipelines, and it is well connected to other countries (Lviv is the second city in Ukraine concerning air traffic);

· Lviv has a large amount of well-educated specialists in technical, humanitarian, medical and other spheres due to such universities of the highest level of state accreditation: Ivan Franko National University of Lviv, National University ‘Lviv Polytechnic’, Danylo Halytsky Lviv National Medical University and others;

· Region has sustainable economic and entrepreneurial development as well as has a stable trade situation. Its main trade partners are: Poland, Germany, Russia, USA, and Denmark.

In June 2009 Lviv was ranked as the best city to live in Ukraine by ‘Focus’ magazine annual research. Such a high position was ensured with high rates for all criteria that embraced aside others business and financial potential.