Brexit uncertainty in the UK has boosted foreign investment into the EU’s other 27 countries in the three years since the referendum, according to a Financial Times analysis.
The total amount of capital invested in the EU27 surged 43 per cent in the three years to the first quarter of 2019, compared with the preceding three years, according to fDi Markets, an FT-owned database of cross-border investment.
This is in sharp contrast to the UK, which has experienced a 30 per cent drop in investment. About $340bn of capital has been invested in the 27 remaining EU states in that period, up from $237bn in the previous three years, fDi found. The biggest increase came from European companies spending beyond their national borders, including companies from the UK investing in another EU country.
Over the same period, the capital invested by foreign firms in greenfield projects in the UK dropped by $36bn to $85bn, despite a slight increase in 2018.
Christine McMillan from fDi Markets said it was “clear that neighbouring countries are beginning to reap the benefits of the uncertainty being caused by Brexit”. [...]
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