Record foreign investment pours into UK
- 24th July 2014
- Business & Economy
Foreign investment into the UK hit record levels in the last financial year, new figures show.
The UK has long been competitive place to do business, and as the economy recovers more and more companies are considering the nation as a destination for investment. In fact, according to new figures published by UK Trade and Investment (UKTI), the nation has managed to attract the highest number of investment projects since the government began recording data in the 1980s.
In the 2013-14 financial year, the data shows that the UK attracted 1,773 new investment projects – 14 per cent more than it did in the previous 12 months. The economic impact was also clear – 66,390 new jobs came from foreign investment, representing the highest figure since 2001.
Since 2010, UKTI says more than 220,000 jobs have come from more than 6,000 projects, demonstrating the huge economic benefits that come from an increasingly globalised investment landscape.
Prime minister David Cameron says that the upcoming Commonwealth Games in Glasgow will provide another opportunity to highlight the business-friendly conditions of the UK.
Just last month, EY’s annual UK Attractiveness Survey pointed to a 15 per cent rise in investment projects. Illustrating the competitiveness of the UK for external firms and individuals, the study showed that Europe’s fourth largest economy is number one in the region for global investors.
John Cridland, director-general of the Confederation of British Industry, said of the UKTI figures that the UK enjoys a strong brand reputation around the world which is “an engine for providing the growth and jobs we need to drive forward a healthy and sustainable recovery”.
He added: “We want to see even more international businesses setting up shop in the UK, as well as greater number of British firms exporting their products to markets across the world, to secure our global future.”
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