Thousands of jobs created by investment
AROUND 10,000 jobs were created in Scotland by foreign investors, a survey has found.
Foreign investment in Scotland outpaced the rest of the UK and Europe last year according to Ernst and Young’s latest Scotland attractiveness survey.
Five Scottish cities have also made it into the top 20 UK locations for investment outside of London.
Edinburgh was joint first with Manchester with Glasgow coming in at fourth place. Aberdeen, Dundee and Livingston also featured.
Scotland attracted 122 inward investment projects, up 14% from 2020. Scotland’s share of projects in the UK sits at 12.3%, its highest level in the last decade.
London remains the most popular location in the UK for direct investment. Ernst and Young pointed to Scotland’s strength in high-value, high-growth industries like digital and utilities as a sign for future optimism.
Ernst and Young Scotland managing partner, Ally Scott, said: “The past year has seen Scotland continue to make great strides as a destination for FDI [foreign direct investment], meaning it can look to the future with even greater confidence. “Scotland’s record levels of attractiveness underline that our second-placed UK ranking for FDI flow is matched and underpinned by investors’ rising perceptions. Our findings suggest the outlook for Scotland’s FDI is exceptionally bright.
“But having fared well through Brexit and the pandemic, keeping that momentum will require ongoing commitment and hard work in the face of historically high inflation, the rising cost of living and wider geopolitical risks.”