The West Midlands has been highlighted as the UK hotspot for foreign investment, new figures have revealed.
The region – which encompasses the entire West Midlands, Staffordshire and Stoke-on-Trent as well as Telford, Shropshire, Herefordshire, Worcestershire and Warwickshire – has once again emerged as the UK’s leading location for attracting foreign investment, outside of London.
It is now the fourth consecutive year that the West Midlands has held the top spot, and therefore means the West Midlands holds the third largest share of all UK regions outside of the capital.
Matt Hammond, chair of the West Midlands Growth Company (WMGC) – the region’s official investment promotion agency and Midlands Region Leader at PwC, said: “The last year has tested economies and societies around the world.
“Alongside the health crisis there has been an economic crisis which has been felt keenly in the West Midlands. That said, these latest figures show that despite the storm of uncertainty surrounding business confidence, our region remains a firm favourite with investors at home and overseas.
“This sustained track record of popularity – during such unprecedented conditions – is testament to the strong foundations of industry, innovation, world-class academia and highly-skilled talent that underpin our economy and continue to resonate with organisations across the globe.”
London remains the UK’s leading landing ground for inward investment by volume.
Insights from think tank Onward show that in the two decades to 2016, the number of foreign investments made in London has more than tripled.
Sources:
https://www.gov.uk/government/organisations/department-for-international-trade
