"This articles explores the situation of the city and oblast of Odessa, a part of Ukraine on the Black Sea coast, from the perspective of its relative attractiveness to foreign investors, with a focus particularly on Germany, the largest foreign investor in Ukraine. Ukraine has come some way since independence but obstacles do remain to its further development, including a need to find the right balance of independence and partnership with other states in the region and, indeed, with the EU, with several of whose member states it shares borders. The oblast has a number of natural advantages stemming from its location, in particular in transport and tourism, but the article focuses critically on the range of resources that the area has which make up the building blocks of economic activity. Production and output in a number of key industries and markets are also examined, as are the opportunities and risks to foreign investors of investing in Ukraine and the relative attractiveness of investing in Odessa. The article concludes with a SWOT analysis of Odessa. "

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