Britain remains the most lucrative European country for financial investment
Britain remains the most attractive country in Europe for financial services investment, and according to EY research, the UK recorded more than double the number of projects of any other European country, with 99 recorded last year. This is in spite of the ongoing pressures of Brexit and the economic fallout from the coronavirus pandemic.
About 40% of investors believe the U.K. will be more desirable for foreigners pouring money into financial services after Covid-19, compared to 8% who said the same for Europe as a whole, according to consultancy firm EY.
The U.S. was the largest source of financial services investment into the U.K., accounting for about a third of projects, it said.
Looking to the future, an EY survey of investors revealed that forty per cent of investors said they thought the UK would be more attractive for Financial Services FDI after Covid-19, compared to just eight per cent who believed that Europe as a whole would be more attractive after the crisis
Saka Nuru, Head of Product Marketing for Fintech Ecosystems and Payments at Intuit Quickbooks, commented: “The fact that Britain has remained one of the most attractive options for financial services investment – despite years of political uncertainty surrounding Brexit, and a particularly devastating onslaught from the coronavirus pandemic – is a testament to the quality, tolerance and resilience of the finance sector in the UK.
“Continued investment in this sector will go a long way in bolstering our weakened economy, and contributing to a strong bounce-back from the historic lows in GDP that we have already endured.
“Looking to the future, and having already passed what has surely been the darkest period in peacetime history, Britain, and London especially, should always remain a global leader in finance. Strong investment has only helped to maintain this nation as a lucrative option for innovative start-ups, cutting-edge fintech, attracting talent from all over the world.”
This was posted in Bdaily's Members' News section by Nick Till .