Scotland attractive to financial services

Scotland is increasingly attractive to overseas financial services firms looking to set up new bases, despite the number of inward investments falling last year.

Although the six foreign direct investments (FDI) in the sector recorded in Scotland last year was two fewer than the previous year, the nation fared better than the UK as a whole during the most difficult year in recent history and continued its decade-long trend as the most attractive UK location outside London.

EY’S latest UK Attractiveness Survey for Financial Services also found the appeal of Scotland for future investment in the UK has also risen from 5 per cent in 2019 to an all-time high of 15 per cent in 2021.

The six projects attracted to Scotland were more than one in ten of the 56 seen across the UK, which represented a 43 per cent fall from 2019.

However, the United Kingdom continues to be the most attractive European market for global FDI.