US and Canada in line for investment boost

Julian Harris
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THE NORTH of America is in line for an economic boost from foreign direct investment, according to an international survey of business executives published yesterday.

The rankings, showing where corporate investors expect money to go, showed the US returning to the top spot for the first time since 2001.

Jumping from fourth in last year’s ranking, the US overtook China and Brazil this time around, while neighbouring Canada leapt from 20th to fourth in the league table.

“The country has made a gradual rebound mirroring that of the rest of the world,” the report said. “Inflows during 2011 were up 15 per cent from 2010, reaching $226.9bn (£148.2bn) and making the US the world’s top recipient of foreign direct investment for the sixth consecutive year.”

Yet worries over the country’s fiscal situation have worried 77 per cent of respondents, the report added.

Germany and the UK are the highest placed European states, at seventh and eighth respectively, although Germany slipped from fifth in 2012’s rankings.

Despite the Eurozone crisis, Spain and France gained top 20 positions.