UK is still top for European investors
Britain is still the most attractive country for international companies looking to invest in Europe, according to the latest European Attractiveness survey from Ernst & Young.
The Ernst & Young report, which looks at a range of different forms of inward investment into Europe, found that for the eighth year in a row the UK has been found to be the preferred destination for foreign investors. "When seen in the context of 12 months during which the European economy suffered a deep recession, the resilience of the UK in securing FDI [Foreign Direct Investment] is a remarkable economic success story," said James Close, a partner at Ernst & Young.
The survey's biggest losers in 2009 reflected recent market concerns about growth and sovereign debt prospects. Spain and Ireland both recorded falls in projects funded by overseas investors.
However, where the impact of the recession was most dramatic was in countries like Poland, Hungary, Romania and the Czech Republic where project numbers fell collectively by 40% "as investors sought the stability of the larger Western economies", the report said.
Key findings:
- The UK remains the most attractive destination for FDI into Europe, with 678 investment projects in 2009, according to this survey.
- London was the most attractive city for inward investment in Europe in 2009 for the eighth year in a row.
- The top investors in the UK were the US (243 projects), France (50), Germany (49) and India (38).
- In terms of projects, the UK attracted just over one in five (21%) of new FDI decisions in Western Europe.
- The UK won 30% of business services projects, 36% of software projects and 27% of financial service projects in Western Europe.
- It attracted 54% of all Indian FDI projects into Europe.
Wednesday, 02 June, 2010
