Figures from the Department for International Trade published last week claim that inward investment into the UK creates around 1,500 new jobs per week.
The analysis also shows that the UK remains 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.
International Trade Secretary Dr Liam Fox 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 whole 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 surged to 26,570 – an 8% increase on the previous year.
Looking across the UK, inward investment continues to spread to the regions and nations:
- Wales attracted 57 projects with 3,107 new jobs created
- in Scotland 4,148 jobs were created as a result of 141 projects
- Northern Ireland secured 28 projects, which created a total of 1,251 jobs
- the Northern Powerhouse attracted 315 projects, creating 10, 691 new jobs
- the Midlands Engine attracted 243 projects which resulted in 13,138 new jobs being created
- in the South, 487 FDI projects created 11,126 new jobs
- in London, there were 740 new projects, resulting in 17,478 new jobs