A report by global professional services firm, Ernst & Young (EY), shows the the UK remains second in their annual ranking of European countries by their ability to attract Foreign Direct Investment (FDI) projects. The UK was the only country in the top three to see project numbers increase year-on-year. France ranked first in Europe for the fifth consecutive year, while Germany followed in third place, according to the EY 2024 UK Attractiveness Survey. The UK was home to 985 FDI projects in 2023, which was a 6% increase from 2022.
The reports key findings include:
- The UK recorded 985 Foreign Direct Investment (FDI) projects in 2023, up 6% from 2022 and ranking it second in Europe
- The UK saw its share of Europe’s inward investment market grow to 17.3%, up from 15.6% in 2022
- UK FDI growth driven by resurgence in digital investment, securing over a quarter (27%) of all European tech projects last year
- Greater London recorded 359 FDI projects in 2023, a 20% increase on 2022, making it Europe’s highest performing region for investment.
- EY investor survey finds that a record 69% intend to invest in the UK in 2024, with more than half planning to invest in London
Read the full report here