Inward Investment to Scotland at "Record" Levels, New Research Levels

INWARD INVESTMENT TO SCOTLAND AT "RECORD" LEVELS, NEW RESEARCH REVEALS

The latest annual survey published by accountants Ernst and Young (EY) shows Scotland still second only to London for attractiveness for investors.

The total number of Foreign Direct Investment (FDI) projects into Scotland rose to 122 last year, exceeding the previous high of 119 set in 2015.

Aberdeen, Glasgow, and Edinburgh were all in the UK’s top 10 cities for attracting FDI last year, EY said – ranked seventh, fifth, and sixth respectively – and Scotland was the second most popular part of the UK to invest in behind London for the fifth year in a row.

Mark Harvey, EY's senior partner in Scotland, said:

“Scotland's attractiveness in the eyes of investors is more in line with previous years.

“Scotland has firmly secured its position as an attractive destination for FDI in the UK, with a further increase of projects from the record-breaking surge of inward investment in 2015.”

Commenting in the latest FDI figures, Patricia Gibson said:

“For the second consecutive year Scotland has attracted more projects than ever before, with 2016 up 2.5% on 2015's previous record and Scotland has been the top UK nation or region outside London in every one of the past five years, despite scare stories that Scotland’s constitutional debate was having a detrimental effect. In fact, as a result more people and businesses are now aware of Scotland and what we have to offer.

“We enjoy resources few nations can match, including one of the most highly-educated work-forces in Europe, a long-standing reputation for innovation and an internationally-regarded brand.

“The EY attractiveness survey indicates these assets continue to be recognised on the world stage, with a substantial number of projects from the US, France and Germany.

“In fact, more than one in 50 of investment projects across the whole of Europe are located in Scotland.”