Finland attracts record number of foreign investments
Direct foreign investments in Europe reached their highest level ever in 2013. According to Ernst &Young’s European Attractiveness Survey, the UK and Germany attracted the highest number of investment projects. However, Finland showed the biggest growth rate in both attracting and initiating investments.
The largest investor in Europe was the United States, as in 2012, but the BRIC countries are constantly stepping up their game.
Ernst & Young’s report states that the number of direct foreign investments made in Europe increased by 4 per cent from the previous year, reaching an all-time high of 3 955 projects. The UK (799), Germany (701) and France (514) attracted the highest number of investments.
Foreign investment projects initiated in Finland increased by 44 per cent, from 75 in 2012 to 108 projects in 2013. Finland and the Helsinki region were last year’s best performers in terms of investments attracted from abroad. The Helsinki region attracted 90 projects, up 48 per cent from 2012. Both witnessed the strongest growth in the whole of Europe compared to 2012.
“The increase in the number of direct foreign investments in and by Finland is a good sign, indicating that our economy is networking more strongly on a global scale,” says EY Finland’s managing partner Jaakko Hirvola. “Economic forecasts are currently rather gloomy for Finland, so it is good to see that foreign companies still find the market attractive by establishing particularly sales and marketing operations here. At the same time, an increasing number of Finnish companies are seeking growth from abroad through investments.”
The projects initiated in Finland created six jobs per project on average, while the European average stood at 42 jobs per project. The investments resulted in a total of 639 new jobs, which is more than twice the amount of jobs created in the previous year.
The United States maintained its top position with 1 027 investments made in Europe. Finns also showed a much stronger interest in investing abroad: the investment projects initiated by Finns in Europe grew by 63 per cent from the previous year’s 43 projects to 70, which means that Finland showed the strongest growth as an investor too.