UK remains number one investment destination in Europe
Britain has benefitted from record-breaking inward investment by foreign companies, International Trade Secretary Liam Fox has announced.
Across the country, 2,213 inward investment projects were secured in 2015 to 2016, an 11% increase on the previous year. This lead to around 116,000 jobs being created or safeguarded - the second highest number on record.
Almost 1,600 new jobs a week were created by foreign direct investment (FDI) in 2015 to 2016. UK Trade & Investment (UKTI), now part of the Department for International Trade (DIT), helped to secure 4 out of 5 of the projects that created these jobs.
Since 2010, nearly 390,000 new jobs have been created through foreign direct investment in the UK.
The department has recorded more foreign direct investment projects than ever before and, according to the EY UK Attractiveness Survey, the UK’s strong performance sees it retain its spot as the number one place in Europe for foreign investment.
The USA remained the UK’s largest source of inward investment providing 570 projects. This was followed by China (including Hong Kong) with 156 and India with 140.
Demonstrating the UK’s attractiveness to an ever-widening pool of global investors, investments originated from a record 79 countries and the UK became the top European destination for projects from emerging markets. Projects from Latin America rose by 240% and those from Central and Eastern Europe surged by 131%. ■