A record Foreign Direct Investment (FDI) was attracted to Scotland for the third year in a row in 2017 according to new figures from accountancy group Ernst & Young (EY).
The country experienced a 7% increase in the number of investments secured last year, taking the total up to 116. This rate of growth was higher than the UK’s 6%.
Scotland's share of UK FDI has now risen to 9.6%, above our historic average of 9.3% and population share of 8.3%.
Commenting, Kenneth Gibson MSP said:
“Scotland had another strong FDI performance in 2017 driven in part by an increase in the number of digital projects locating here, with a 56% increase on 2016.
“Business services brought the largest number of FDI projects, 23, to Scotland last year, a 10% increase on 2016.
“In 2017 manufacturing along with research and development, both achieved significant growth in Scotland. The nation also performed well in securing headquarters projects. Despite the Brexit storm clouds, I believe a bright future lies ahead.”
Mark Harvey, senior partner in Scotland for EY, said the findings were "hugely encouraging” adding:
"These areas of success are underpinned by the strength of the universities producing high calibre, talented people who want to build their career in Scotland.
"Scotland’s long-term attractiveness to investors will rely, in part, on the ability to remain a first-choice destination for international students.”
The EY survey can be accessed here.
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