UK Trade and Investment
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UK wins record inward investment in 2007-8
The annual inward investment results for 2007-8 showcase another highly successful year for the UK, with a record 1,573 investment projects won in what marks a fifth consecutive year of growth.
According to the figures, published by UK Trade & Investment, over 120 new jobs were created each day as a result of this investment from overseas companies, bringing employment and wealth to every area of the country.
John Hutton, Business and Enterprise Secretary, said: "These results are a ringing endorsement of the UK as an international investment destination, demonstrating that our compelling mix of a business friendly environment, political and economic stability, world-class talent, and a strong research and development base, is a powerful magnet for overseas companies."
Other highlights of the "UK Inward Investment 2007-8" report include:
* Total projects up 10 per cent from 1,431 to 1,573
* 45,051 new jobs created and a further 58,488 safeguarded, bringing the total number of associated jobs to 103,539 (up 32 per cent)
* 653 (42 per cent) of the total were new projects and 436 (28 per cent) of the total were expansions by existing investors
* R&D operations increased by 83 per cent to 251 projects; with high value and R&D intensive projects representing two thirds of the total
* Advanced Engineering projects rose by 61 per cent to 182 projects
* Environmental Technologies projects increased by 22 per cent to 59
* Though we have seen a slight softening in last year's record figure, the US remains our biggest investor - representing some 30% of the total investment projects, and almost 30,000 new and safeguarded jobs
David Miliband, Foreign Secretary, said: "The UK has a global reach and our investment pipelines are spread across the world. Once again, the US remains our biggest investor; but we have also increased investment from a range of key countries including Sweden and Japan, important for the rich research and development investment they bring; Australia, highlighting that the UK is an attractive base for expansion within Europe; high-growth markets such as India and China; and Ireland, Germany and the Netherlands, demonstrating that the UK's economy represents an opportunity for our neighbours too."
Lord Digby Jones, Minister for Trade and Investment, said: "As a passionate advocate of UK business success, I am delighted these figures reflect our continued ability to punch above our weight on the global stage. In a year of international financial uncertainty this impressive performance exemplifies that now, more than ever, the UK economy is synonymous with opportunity and global potential."
Notes to Editors
1). UK Trade & Investment is the UK Government's international business development organisation, supporting businesses seeking to establish in the UK and helping UK companies grow internationally. The services offered by UK Trade & Investment bring together a network of business sector specialists and support teams in London, Glasgow, Cambridge, the nine English Regions and in British diplomatic posts in some 100 markets all around the world. UK Trade & Investment works with a wide range of partner organisations in the UK, including other Government departments, Regional Development Agencies and the Devolved Administrations, Business Links, Chambers of Commerce and trade associations. For more information, visit the web site at http://www.uktradeinvest.gov.uk. For latest press releases, visit the online newsroom at http://www.newsroom.uktradeinvest.gov.uk
2). To download the report and other resources related to the UK Inward Investment Report 2007-8 please visit http://www.ukinvest.gov.uk/investment-report
3). The UK Inward Investment 2007-8 report records all inward investment decisions notified to UK Trade & Investment for the financial year 2007-8 by the nine English regional development agencies and the national development agencies in Scotland, Wales and Northern Ireland. It includes new investments, expansions, and acquisitions. Acquisitions were independently validated and verified by the UK development agencies.
4). Statistical breakdown
*please note, the published figures have been rounded up, or down, as appropriate to provide meaningful data.
Trends
2007/08 1,573 projects
2006/07 1,431 projects
2005/06
1,220 projects
2004/05 1,066 projects
2007/2008 Results
* 1,573 investment up 10% on 2006/2007
* 45,051 new jobs
created up 23% on 2006/2007
* 58,488 safeguarded jobs up 39%
on 2006/2007
* Total of 103,539 associated jobs (new &
safeguarded) up 32% on 2006/2007
Based on the figures above:
* Everyday 283 jobs are created or safeguarded
* Every day
123 new jobs are created
* Every week 866 jobs are
created
* Everyday we attract 4 projects
Project Type
Project Type Projects in Projects in 2006/07 % Change between
2007/08 and % and % of total 2006/07 and
of total 2007/0x
Acquisitions, 48430% 49735% Down 3%
JV's & Mergers
Expansions 43628% 33423% Up 30%
New 65342% 60041% Up 9%
Totals 1,573 1,431 Up 10%
Project by Operation
Project Projects in Projects in % Change Total No of
Nature 2007/08 and 2006/07 and between Jobs (New
% of total % of total 2006/07 and and
2007/08 Safeguarded)
in 2007/08
Services 66041% 58240% Up 13% 21,576
Manufacturing 27617% 30221% down 8% 41,835
HQ 23114% 22316% Up 4% 3,012
R&D 25114% 13710% Up 83% 16,893
Distribution 915.7% 1309% Down 30% 9,643
Contact 503.1% 407% Up 25% 6,248
Centres
E-Commerce 140.8% 171% Down 17% 1,332
Totals 1,573 1,431 Up 10 %
Projects by Sector
Sector Projects in Projects % Change Total No of Jobs
2007/08 in 2006/07 (New and
Safeguarded) in
2007/08
Advanced 182 113 * Up 61% 30,388
Engineering
Life Sciences 135 133 Up 1.5% 6,932
Business 140 156 Down 10% 4,932 Services
ICT 146 145 Up 0.6% 7,119
Creative Media 54 45 Up 20% 1,332
Financial 108 99 Up 9% 5,669 Services
Environmental 59 48 Up 22% 5,561
Technologies
Software & 234 274 Down 14% 6,539
Computer Services
Other 515 418 Up 7.5% 35,067
*Figure revised since publication of 2006/07Annual Report
Projects by Origin
Country Projects in Projects in % Change Total No of Jobs
2007/08 2006/07 (New and
Safeguarded) in
2007/08
USA 47830% 54037.7% down 11% 29,809
France 885.5% 95 6.6% down 7% 11,780
Canada 684.4% 826% down17% 1,601
Japan 1026.5% 805.5% up 28% 5,138
Germany 1046.4% 755.2% up 39% 8,100
Australia 926% 745.1% up 24% 2,803
India 754.8% 695% up 8% 19,672
China 593.6% 523.6% up 13% 1,337
Ireland 795% 433% up 83% 4,542
Netherlands 453% 342.3% up 32% 2,497
Sweden 563.5% 302% up 86% 3,273
Switzerland 281.8% 261.8% up 7% 1,439
Others 296 231 11,548
