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Britain tops FDI destination ranking in Europe

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Staff writer |
BritainBritain was the most attractive destination in Europe for foreign direct investment in 2013 due to its "quality of life, diversity, culture and language," a survey published Monday said.

Britain's place elevated from eighth to fifth in the worldwide ranking of countries that investors see as attractive over the next three years. [ It had overtaken Germany for the first time, with only China, the United States, India and Brazil now ahead of it, the survey conducted by global advisory company EY said.

In 2013, the number of foreign direct investment projects in Britain increased by 14.6 percent to 799, surpassing the previous high of 728 recorded in 2010 and Britain's market share rose to one fifth of all European projects, close to its record high over the last decade, according to the survey.

"The project data for 2013 and the results of our perceptions collected by the survey highlight four key drivers of Britain's performance," said Francis Small, partner of EY UK.

The first was the strength and consistency of Britain's appeal across a wide range of attributes that are important to investors, Small said.

Britain's main attractions to foreign investors were its quality of life, diversity, culture and language, with 90 percent rating this criterion as very or fairly attractive, according to the survey.

Other interesting factors include technology and telecommunications infrastructure, stability of the social climate, stability and transparency of the political, legal and regulatory environment, education in trade and academic disciplines and local labor skills levels.

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