London still leads European cities in attracting foreign direct investment in financial services, with the UK’s share of new projects reaching the highest level in a decade, a survey by Ernst & Young showed.
London still leads European cities in attracting foreign direct investment in financial services, with the UK’s share of new projects reaching the highest level in a decade, a survey by Ernst & Young showed.
Even through challenging macroeconomic conditions and geopolitical uncertainty, “the stability of the UK’s financial services sector has ensured foreign investor confidence remains strong,” said Anna Anthony, UK financial services managing partner at EY. However, she warned of “fierce” competition from European peers and further abroad.
The UK secured a third of all European projects in the financial services sector, widening its lead over nearest rival France, EY found. Britain attracted 108 projects in 2023—an increase from 76 projects in 2022. That puts it significantly ahead of other European destinations like France and Germany, which notched up 39 and 38 projects, respectively.
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