The UK remains a top destination for investment, with new figures showing that inward stock is at the highest level since records began.
Latest figures from the Office for National Statistics (ONS) show stocks from across Asia have increased by more than 33% in 2017 to £128 billion and stocks from Japan increased by 71% to £78 billion. The greatest growth from any country has come from Indian investors, rising 321% to £8 billion.
The figures show that investors have maintained confidence in the UK as an investment destination, with the value of the UK’s FDI stocks as a whole increasing by £12.6% to £1,337 billion in 2017 when compared with the previous year. The UK’s world-leading financial services sector attracted more FDI than any other industry, accounting for 28.8% of total inward investment, accumulating over £385 billion by the end of 2017.
And the UK’s largest investor, the US, also showed a significant increase in FDI stocks, increasing by 19.5% to £351 billion.
International Trade Secretary and President of the Board of Trade, Dr Liam Fox MP, said: “As we prepare to leave the European Union, foreign investors from around the globe are as confident as ever investing in the UK. The significant rise in the amount of investment from Asia is evidence that the growing economies are important partners for the UK, relationships which I am committed to developing and deepening.
“Foreign Direct Investment has an overwhelmingly positive and transformative effect on the UK economy, bringing jobs, prosperity and growth. My international economic department is focused on ensuring that the effects are felt in every part of the country.”
Figures also show that the UK’s world-leading financial services sector attracted more FDI than any other industry, accounting for 28.8% of total inward investment, accumulating over £385 billion by the end of 2017.