This is a remarkable performance but only the latest in a long line of positive annual assessments of Scotland’s track record in attracting foreign direct investment (fyi).
The source document is well worth a look: EY Attractiveness Survey Scotland 2022 (https://www.ey.com/en_uk/attractiveness/22/scotland-leads-the-way-for-fdi-investment )
Congratulations are due to Scottish Development International (SDI), Scotland’s own trade and inward investment agency:
Some indicative extracts from the EY report:
‘With a double-digit increase in terms of market share for UK projects, Scotland recorded its highest ever level of the past decade — FAR OUTPACING THE GROWTH AND RECOVERY OF THE REST OF THE UK AND EUROPE FOLLOWING COVID-19. With Scotland expanding its share from 11% in 2020 to 12.3% in 2021, UK and Europe trail behind with an increase in projects at 5.4% for Europe and only 1.8% for UK. SCOTLAND’S FDI PERFORMANCE HAS BEEN IMPRESSIVE FOR SOME TIME NOW, ….’ (my emphasis)
‘This performance also cements the fact that Scotland has recorded an increase in projects for four years running, which was achieved during very turbulent conditions — given the geopolitical uncertainty and COVID-19. IT IS CLEARLY TENACIOUS AND ABLE TO RESPOND TO THE EVER-CHANGING ENVIRONMENT due to being a very well-established location for FDI.’
‘… the number of new Scottish jobs generated by FDI projects rose from 4,500 to 10,000 in 2021. This MARKED AN INCREASE OF 125% AND is Scotland’s highest ever annual total for employment gained from inward investment.’
‘…. CLOSE ALIGNMENT BETWEEN INVESTORS’ EXPECTATIONS OF WHICH SECTORS WILL DRIVE UK GROWTH, AND SCOTLAND’S STRENGTHS IN CLEANTECH, DIGITAL AND HEALTH.’
The EY report states: ‘WHATEVER THE CHALLENGES, THE POSITIVE NEWS IN THIS REPORT IS IMPOSSIBLE TO IGNORE.’
Maybe! We’ll see what BBC Scotland makes of it on Reporting Scotland this evening!