UK ranks highest in foreign investment for 2013
09 Jun 2014
Ernst & Young (EY) has released its Foreign Direct Investment (FDI) index for Europe, ranking the UK top in both number of FDI projects and job creation.
Germany, France, Spain and Belgium also continued to dominate the top five for projects.
The number of FDI projects in total reached an all-time high but job creation per project has gone down to 42 – well below the pre-financial crisis high of 60. Overall the number of inward investment decisions throughout Europe increased by 5% on 2012 and stands at 3,955. The number of jobs created by these projects was 166,300 – down by 2% on 2012.
Steve Varley, EY’s UK & Ireland chairman and managing partner, said: ‘The UK’s performance was nothing short of stellar and was achieved against the backdrop of more modest increases across Europe.
‘The message that the UK is open for business is being received loud and clear by international investors, but as the global economy evolves the UK must continue to respond in order to stay ahead. With intra-European FDI increasing and almost two thirds of our survey respondents identifying the UK as a gateway to Europe, clarification on the UK’s relationship with the wider continent is essential’.
In the UK, inward investment was up by 15% on 2012, with 799 projects – meaning that the UK secured a fifth of all European projects.