SCOTLAND increased its share of financial services foreign direct investment (FDI) in 2019 and secured Europe’s largest international investment in terms of job creation, while project numbers across Europe fell, a new report reveals.
There were eight financial services FDI projects secured in Scotland last year, creating an estimated 2,911 jobs, which is more than three times the employment number for London - estimated to be 806 - and more than half the UK total, at 4,443.
At a city level, Glasgow was the second most attractive city in the UK for financial services FDI in 2019, having secured more than three times the number of projects than Edinburgh.
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Sue Dawe, EY head of financial services in Scotland, said: “In a year where both Europe and the UK experienced a fall in their numbers of financial services foreign investment projects, it is positive to see Scotland demonstrating relative resilience and bucking the trend with an increase in project numbers.”
Scotland’s share of UK financial services FDI averaged 7.5 per cent while the sector’s share of all FDI into Scotland averaged 6.4%.
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