FOREIGN investment into Europe reached a record high last year, with the UK seeing the greatest increase, said EY research today.
Despite challenging economic conditions in parts of the continent, 3,955 projects attracted foreign investment in 2013, up four per cent from the previous year.
EY’s annual European Attractiveness Survey said the UK took the lead with 799 projects in 2013, an increase of 15 per cent, while Germany saw a 12 per cent increase to 701 projects. But Spain saw a 19 per cent decline.
The US remained the single largest source of foreign investment, although it fell two per cent to account for 26 per cent of projects. Investment from emerging markets Brazil, Russia, India and China – the Brics – made up 28 per cent of projects last year.
“2013 could well be a turning point for economic confidence and foreign direct investment decisions as the marathon recession in many parts of Europe finally came to an end,” said Marc Lhermitte, EY’s head of international location advisory services.