Scotland is the most attractive place for foreigners to invest outside London

 
Sarah Spickernell
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Foreign investment projects in Scotland more than doubled last year (Source: Getty)

Outside London, Scotland is the most popular place for foreigners to invest in the UK, according to a report by EY.

In its latest UK annual attractiveness survey, it shows how the UK did well overall last year, with total projects from foreign investors increasing by 15 per cent to 799 – its highest number ever, and far higher than the European average increase of four per cent.
Not only that, but the UK has overtaken Germany for the first time, with only China, Brazil, India and the US remaining more appealing prospects.
So where is this investment being funnelled to? As usual, London tops the chart, but Scotland falls into a solid second place with investment having more than doubled there last year from 15 projects to 31.
EY puts Scotland's success down to increased international interest brought about by last year's Commonwealth Games, Ryder Cup and independence referendum.
Of all countries, the US is the real driving force behind Scotland's growth in investment. In 2014, its financial input being a 10-year high.
John Swinney, deputy first minister, said:
Scotland is punching above our economic weight, with the EY Attractiveness Survey showing we continue to be the most successful part of the UK outside London in attracting foreign direct investment (FDI) projects.
The number of manufacturing FDI projects coming to Scotland more than doubled, growing from 15 to 31. Combined with a rise in scientific research projects – reaching another ten-year high – and the largest number of financial FDI projects since 2006, this shows an encouraging trend towards high-value projects that recognise our highly-skilled workforce.

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