Our director of international operations welcomes the news that 2015 was a record year for inward investment in Scotland, and reflects on why Scotland continues to out-perform the rest of the UK outside of London.
Competition for inward investment is fierce, as more and more countries see foreign direct investment (FDI) as the route to economic growth. So, how well is Scotland competing? The latest EY Scotland Attractiveness survey offers some telling insights.
The survey highlights a record year for Scotland in attracting FDI. Once again, Scotland is named top performing region in the UK outside London for FDI in 2015.
Total FDI projects are up 51%, and 2015 was also a record year for attracting R&D inward investment, with 23 projects, one third more than 2014. That makes Scotland first in the UK for R&D investment.
Connected and collaborative
Much of this success is built on Scotland’s internationally-competitive offering and expertise in sectors such as technology (especially software), life-sciences and financial services. It also reflects the significant collaboration possible across our close-knit public, private and academic sectors. This has built a truly connected Scotland that makes it easier to get ambitious plans up and running, faster.
Scotland's cities are performing very strongly too, with Edinburgh, Glasgow and Aberdeen all featuring in the UK top ten for FDI projects.
The main factors driving sustainable inward investment right across Scotland are threefold: access to skilled people, knowledge and markets. There’s also the opportunity to be part of a successful network of liked-minded companies.
Companies that invest here don’t just benefit from one of the lowest tax rates in Europe and a range of public and private sector support – they also benefit from Scotland’s great connections.
Connected to markets
Scotland is located on the doorstep of Europe, is well-connected to London, and the USA is just a short flight away. It’s this easy access to important markets that makes Scotland the ideal location to do business.
And that’s just the start. Throw in excellent, stable infrastructure and an enviable quality of life, and you begin to understand why so many foreign companies made the decision to invest in Scotland last year.
Of course, surveys and figures only take you so far. With 29 offices in 18 countries, it’s easy to find out specific answers on how Scotland can help your company grow.
You can also find out how we can help you from initial enquiry, all the way to the after-investment care and support that continues way after you have set up here.
Speak to us and you’ll discover that, as our latest FDI figures confirm, Scotland is very much open and ready to connect with business.
Contact us to find out more