According to data from EY, the UK acquired 99 investment projects in financial services in 2019. However, in 2020, just 49 were acquired, a significant drop that puts the country only 14% ahead of France.
The latest EY UK Attractiveness Survey for Financial Services found that foreign investment fell by 23% across Europe in 2020, as the pandemic impacted business confidence and foreign travel. It is expected that the UK will continue to outperform its European neighbours as global markets and economies begin to recover from the economic impacts of Covid-19. In a survey of global investors, the UK was found to be the European country with the most investment-friendly Covid-19 recovery plans. It was also labelled most attractive for financial services investments.
Germany came second on both of these assessments, with France and Switzerland coming in joint third place. London remains Europe’s most attractive destination for financial services foreign investment after Stockholm and Amsterdam.