Inward investment creates around 1,500 new jobs per week across the UK

Almost 76,000 new jobs were created as a result of inward investment from foreign direct investment projects in 2017/18, according to a new report.

Figures from the Department for International Trade show that 2,072 projects recorded, 75,968 new jobs were created and that 15,063 were safeguarded, amounting to nearly 1,500 new jobs per week across the country.

Overall the UK remained the number one destination for inward investment in Europe, with the wholesale, food and drink, electronics, and infrastructure sectors all seeing an increase in the number of new jobs.

Dr Liam Fox, International Trade Secretary, said: “Two years since the EU referendum, the UK has record employment and seen an increase in new jobs as a result of inward investment.

“We remain the top destination in Europe and third in the world for foreign direct investment. As an international economic department, we continue to promote the strengths of the UK as a great inward investment destination, with an open, liberal economy, world-class talent and business-friendly environment.”

The increase in new jobs result from investment from across the globe, with jobs from German investment up by over 60%, increasing to 9,357.

New jobs from Indian investments increased from 3,999 to 5,659 and from US investment, jobs also increased to 26,570 – an 8% rise on the previous year.

Looking across the UK, inward investment continues to spread to the regions and nations.

The Northern Powerhouse attracted 315 projects, creating 10, 691 new jobs, whereas London saw the completion of 740 new projects, resulting in 17,478 new jobs.