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ERNST and Younger’s (EY’s) annual attractiveness survey exhibits Scotland is probably the most engaging location for inward funding within the UK exterior of London.
The 4 main sectors producing inward investments in Scotland in 2021 have been digital expertise (33 initiatives), utility provide (18 initiatives), enterprise {and professional} providers (14 initiatives), and equipment and tools (14 initiatives).
In fairly an excellent yr, Scotland secured 14% extra overseas direct funding (FDI) initiatives in 2021 with 122 secured in comparison with 107 in 2020.
As compared, there was a 1.8% improve within the variety of FDI initiatives interested in the UK, whereas the variety of European inward funding initiatives elevated by 5.4% over the identical interval.
This ensured Scotland elevated its share of the whole inward funding initiatives attracted by the UK, from 11% in 2020 to 12.35% in 2021.
Crucially Scotland’s funding vacation spot attractiveness rose to its highest degree, with 15.8% of traders ranking the nation probably the most engaging location within the UK for FDI, greater than double the 2019 determine (7%).
Based on figures out there to EY, greater than 10,000 Scottish jobs have been generated by FDI initiatives in 2021, greater than double the approximate 4,500 determine in 2020.
EY’s outcomes, which cowl the calendar yr January-December 2021, aligned with Scottish Growth Worldwide (SDI) figures introduced earlier this month that confirmed greater than 7,500 deliberate actual dwelling wage jobs had been generated by inward funding in FY21/22 (fiscal yr).
113 funding initiatives in Scotland have been supported, 39 of which have been traders finding within the nation for the primary time.
Scottish enterprise businesses have hailed the publication of the survey.
Adrian Gillespie, Chief Government of Scottish Enterprise, stated: “At present’s EY Attractiveness Survey underlines the compelling strengths Scotland has to supply on the worldwide stage.
“Scotland’s unbelievable workforce, world-renowned universities, aggressive price base, supportive enterprise setting, magnificent pure assets and unparalleled high quality of life on supply instantly put Scotland on the radar of traders.
“When mixed with our ‘Staff Scotland’ method, which sees public our bodies, academia and business working collectively to advertise the easiest Scotland has to supply, this actually makes us stand out from the group.
“Companies have instructed us that this joined-up method is a key cause why they select Scotland – and EY’s survey is testomony to this – with Scotland’s perceived attractiveness to inward traders now at file ranges.
“For Scotland’s efficiency to develop so markedly, and to but once more be probably the most engaging location within the UK for FDI exterior of London, is a unbelievable achievement that may additional improve our world status.
“Scottish Enterprise and our companions will proceed to advertise Scotland as a really perfect funding location, delivering financial and partnership alternatives for our communities and companies alike.”
Marion Beattie, Head of Abilities Progress and Inward Funding at Abilities Growth Scotland (SDS) added: “Companies inform us that abilities are one of many key concerns when making funding selections, and these figures present that Scotland continues to carry out strongly on this respect.
“Working as a part of Staff Scotland, SDS is dedicated to creating a dynamic, resilient, inclusive and intelligence-led abilities system that helps employers to spend money on their present and future workforce.
“Meaning working with our companions to make sure the abilities, coaching and schooling wants of potential and present traders are met with a complete and co-ordinated bundle of help.”
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