The UK attracted its highest amount of investment in financial and professional services (FPS) projects for four years in 2022 – that’s according to a report by the City of London Corporation that placed their value at £2 billion.
According to newly published figures, the investment in FPS projects in the UK last year, recorded across 263 projects, exceeded that of any country in Europe.
London itself has attracted 779 projects over the past five years, ahead of Dubai (592 projects), Singapore (586), New York (424) and Paris (332).
Policy Chairman at the City of London Corporation, Chris Hayward, said: “It comes as no surprise that London continues to lead the world as the top destination for investment in financial and professional services. The UK is a magnet to financial institutions as well as global institutional investors.
“It is vital that we continue to build on this success. We must future-proof the sector to ensure we remain globally competitive.”
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Between 2018 and 2022, the UK attracted FPS investments from 65 countries – the largest being the US, followed by Switzerland and Germany.
According to the report, investment management firms have become the largest source of financial services foreign direct investment projects in the UK, accounting for a third of all projects.
Lord Mayor of the City of London, Nicholas Lyons, said that despite continued global challenges facing the economy, the UK’s financial and professional services sector has “proven resilient”.
Lyons said: “London is the world’s most international and connected financial centre, providing unrivalled access to global markets.
“The UK’s offer to global investors continues to go from strength to strength due to its unique combination of time zone, language, legal system, global talent, and financial services ecosystem.”
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