Paris beats London as Europe's favourite investment destination

12 June 2018 | Business

PARIS - An Ernst & Young survey shows Paris has overtaken London as Europe's most attractive destination for foreign investors for the first time since EY began such reports 15 years ago.

The change in the continent's pecking order is a sign of the impact of both Brexit and the "Macron effect".

The French capital was ranked No. 1 for foreign direct investment by 37% of businesses, based on a survey of 502 companies and data from EY and IBM covering 2017.

Britain as a whole remained Europe's top destination for foreign direct investment in 2017, with 1 205 of the 6 653 new FDI projects in Europe, ahead of Germany's 1 124 projects and France's 1 019 projects.

But France's number was up 31% in one year, while the number of investment into Britain was 6% higher than in 2016, showing a slowdown in growth.

This was the first time Paris has outdone London since the annual survey started in 2003. Berlin came third and Frankfurt fourth. "The UK is feeling the effect of Brexit," the report said.

"Investment slowed after the 2008 financial crisis, but France is now in catch-up mode, and a beneficiary of Brexit," it added, citing President Emmanuel Macron's reforms to make the labour market more flexible. – Nampa/Reuters

Similar News

 

Business ponders mass exodus

2 days ago - 24 May 2019 | Business

A recent survey by the Economic Policy Research Association (EPRA) of close to 600 businesses concerned about the government's policy direction shows that a staggering...

MTC kickstarts NSX listing process

2 days ago - 23 May 2019 | Business

MTC issued a statement this morning saying it “has officially started its journey towards listing on the Namibian Stock Exchange”.MTC will be the first state-owned...

Mexican billionaire buys Erindi

3 days ago - 22 May 2019 | Business

Mexican billionaire Alberto Baillères is set to buy the sought-after 71 000-hectare Erindi Game Reserve, subject to approval. According to a media release, Baillères is...

Bidvest Nam to delist from NSX

4 days ago - 21 May 2019 | Business

Bidvest Namibia will delist from the Namibian Stock Exchange (NSX) on 11 June, the company said in an announcement on the local bourse.This follows a...

Namport fires 86 employees

6 days ago - 20 May 2019 | Business

Leandrea Louw Namport has dismissed 86 container terminal workers who were involved in an illegal strike in August last year.Namport acting CEO Kavin Harry explained...

Debmarine to spend N$7bn on new vessel

1 week ago - 17 May 2019 | Business

Debmarine has announced that it will invest N$7 billion in a new vessel, which would contribute N$2 billion a year to the economy.The diamond miner...

Governmentpolicy causes economic decline

1 week ago - 17 May 2019 | Business

Local businesses burdened with a crushingly tough economic climate feel the government's policies have contributed to the current climate, particularly legislation aimed at empowerment and...

Phosphate mining headache continues

1 week ago - 16 May 2019 | Business

ELLANIE SMIT The Chamber of Mines of Namibia is concerned that a way forward on marine phosphate...

Save jobs, buy local

1 week ago - 16 May 2019 | Business

Team Namibia has urged Namibians “now more than ever” to buy local in order to have a positive impact on the economy, reduce poverty and...

Mining: Sunrise, sunset?

1 week ago - 15 May 2019 | Business

Jo-Maré Duddy - Namibia’s mining sector needs policies which will transform the sector from a perceived “sunset” industry to a “sunrise” industry.This will allow investment...

Latest News

10% water hike coming

2 days ago - 24 May 2019 | Disasters

The City of Windhoek has proposed a 10% water and 5% sewer tariff hike to come into effect in July. The City's recently announced...

Low earners excluded from drought...

2 days ago - 24 May 2019 | Disasters

Households with a combined income of more than N$2 600 will not qualify for state drought assistance, which has effectively excluded even low-level civil servants...

How did we get here?

2 days ago - 24 May 2019 | Opinion

How did we get to a situation, as a country, where our government is asking already struggling workers to donate 2% of the salaries as...

AMTA ends Fysal agreement

2 days ago - 24 May 2019 | Agriculture

Fysal Fresh Produce is to retrench 60 employees at the end of this month after its contract with the Agro-Marketing Trading Agency (AMTA) was terminated....

Geingob grills Nanso

2 days ago - 24 May 2019 | Education

The Namibia National Students Organisation (Nanso) leadership received a grilling from President Hage Geingob on Wednesday during a meeting to discuss a number of issues,...

Fallout over 2% tax

2 days ago - 24 May 2019 | Economics

Political parties and analysts have called on the government to abandon a plan to introduce a “voluntary” 2% tax to fund drought relief.Prime Minister Saara...

Bild challenges Guibeb

2 days ago - 24 May 2019 | International

The German newspaper Bild has rubbished a claim by the Namibian ambassador to Germany, Andreas Guibeb, that no arrest warrant had been issued against him.The...

Namibia ranks poorly for diversity

2 days ago - 24 May 2019 | Cultural

For a country that is described by many as one of the most diverse in the world, Namibia has ranked fairly poorly in a new...

Business ponders mass exodus

2 days ago - 24 May 2019 | Business

A recent survey by the Economic Policy Research Association (EPRA) of close to 600 businesses concerned about the government's policy direction shows that a staggering...

Load More