Nearly one in six inward investment projects in the UK last year
were secured in Scotland, according to new data published by EY.
The record share of the market cements the country's position as
the UK's top destination outside of London – for the tenth year
in a row – while Aberdeen, Edinburgh and Glasgow remain among the
top 10 UK cities for Foreign Direct Investment (FDI) projects
outside of London.
Although the total number of new projects in Scotland fell back
slightly (4.9%) from record numbers in 2023, it compares to a
drop of 13% in the UK, 14% in France and 17% in Germany.
EY's survey of global investors found that quarter of those
planning to invest in the UK are targeting Scotland, maintaining
the country's long-standing position in investors' eyes as the
UK's preferred FDI destination outside of London.
To mark the results, Deputy First Minister visited the Glasgow offices of
Canadian IT and business consulting services firm CGI Inc. which
employs around 750 employees across its Glasgow, Edinburgh,
Borders and Aberdeen offers.
The Deputy First Minister said:
“Given the geopolitical uncertainties clearly affecting investor
confidence across the world, this is an incredible endorsement of
Scotland's proposition as a destination for global investment.
“A huge amount of work, across both the private and public
sectors, goes into securing these projects, which are vital for
economic growth, job creation and bringing benefits across our
towns and cities.
“From the likes of green aircraft engine ZeroAvia to ticketing
hub Humanatix, 2025 is bringing further significant investment
and exciting projects to Scotland. The Scottish Government will
continue to work with businesses and our “Team Scotland” partners
to continue building the country's reputation as a world class
location for foreign investment.”
Chief Executive of Scottish Enterprise Adrian Gillespie said:
“It's fantastic to mark a decade of Scotland as the number one UK
location for inward investment outside of London. Foreign
direct investment unlocks innovation, creates jobs, and opens up
new supply chain opportunities for Scottish companies.
“Our staff in over 30 offices around the world are vital to
building these trusted relationships with potential inward
investors, which can often take years to cultivate. This work is
complemented by colleagues at home working with Team
Scotland partners to build a package of support to bring these
companies to Scotland.
“Scotland's strengths in emerging technologies, including AI, are
attracting new foreign investors, with US robotics and AI company
LaunchPad Build opening an Edinburgh office last year. Together
with Scotland's historic reputation for financial services
excellence, this is driving further investment, such as
Australian fintech HALO opening its Glasgow operations centre
last year.
“The global energy transition, and Scotland's growing reputation
in this area, continues to be a catalyst for innovation, with US
headquartered ZeroAvia locating its manufacturing facility for
hydrogen aviation engines next to Glasgow airport and Japanese
sub-sea cable manufacturer Sumitomo breaking ground on its
factory in Port of Nigg.”
CGI Senior Vice President, Scotland and Northern Ireland, said
Lindsay McGranaghan:
“CGI has been working in Scotland for more than 10 years, and we
find it an outstanding place to do business and grow talent. We
have established offices in Glasgow, Edinburgh, Aberdeen and
Tweedbank, and employ 750 staff – who we call partners – who
support key sectors such as government, health, energy and higher
education.
“Six years ago we expanded our presence with the opening of a new
HQ in Glasgow, and we embrace the metro model of working –
building a resource of Scottish-based partners who live and work
in their local communities. We have also developed partnerships
with a host of Scottish SMEs, helping small businesses grow while
supporting regional economic development.
“As the UK's leading FDI location outside London for a decade,
Scotland's resilience and appeal are clear. We are proud to play
our part in that success, and look forward continuing to grow our
business in Scotland.”
