Foreign Direct Investment (FDI) is crucial for the economy, the new Labour Government has put this on its agenda, pledging support for FDI.
In partnership with Cebr, Irwin Mitchell analysed the 50 largest cities in the UK, ranking their current investment attractiveness according to three different categories: growth potential; local skills; and local infrastructure and compared them to last year.
The headlines are:
1. London’s unwavering dominance: The capital continues to reign supreme as the most attractive investment destination. Its winning formula combines a highly skilled workforce, world-class universities, and a thriving business ecosystem.
2. Brighton’s surprising performance: Beyond London, Brighton stands out. With a knack for business creation and local skills development, it maintains its position as the highest-ranking city outside the capital.
3. Edinburgh’s rise: The Scottish capital is the leading city outside London and the South East. With strong local skills and robust infrastructure, it’s a beacon for investors seeking regional opportunities.
4. Coventry’s resilience: Amid economic headwinds, Coventry defies the odds. It’s the sole city to improve its overall Investment Attractiveness score year-on-year. A surge of new businesses and unwavering growth potential propels the Midlands location forward by 18 places.
5. Bucking the trend: The often-overlooked locations of Stockport, Bradford, Doncaster, and Kirklees show notable improvements in their rankings. These diverse regions demonstrate untapped potential for growth and investment.
Georgie Collins, Head of IP and Head of US Desk at Irwin Mitchell commented “The attractiveness of the UK as a place for US investment remains as strong as ever owing to language, location, institutions, status as a global financial centre and the legal and regulatory environment.
“Overlapping this, the UK is home to the four largest offshore wind farms in the world, four of the world’s top 10 universities and to more business unicorns than France and Germany combined. We are seeing investment from the US across various industries, the headliners being financial, business and professional services; tech – fintech, digital, AI & cybersecurity and green-tech; and life sciences.”
Read the detailed report here.
If you are looking to invest in the UK, and would like an introduction to Irwin Mitchell, please let us know!