Top 4 accountancy practice, EY, report that the UK have now slipped away from Germany and are ranked as number one place for inward investment in Europe. A positive outlook on the future of the UK economy as well as other factors are believed to have played a part in getting them to this position.
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11% increase on last year
There has been an 11% increase on figures last year for foreign direct investment (FDI), according to data gathered as part of EY’s “Attractiveness Report.
2014 showed the largest number of secured FDI’s in over ten years, with almost 900 recorded projects.
Europe as a whole attracted over 4,300 investment, being a 10% increase this year from last.
20% market share
In addition, the UK improved on it’s market share as a proportion of the total number of European FDI projects, so now standing at over 20%. This is the highest since 2009.
A positive outlook
The chairman and managing partner of EY, Steve Varley, suggests this is likely to be due to a number of factors, in summary:
- A positive outlook on the future of the UK economy
- Government efforts to encourage new FDI projects
- The dynamic labour market