The UK remains Europe’s top destination for foreign direct investment (FDI) in financial services and has widened its lead over other European markets, according to EY’s latest Attractiveness Survey for Financial Services.
In 2023, the UK attracted 108 financial services projects, up from 76 in 2022. Meanwhile, France, in second place, secured 39 projects in 2023, down from 45 the previous year.
Germany secured third place with 38 financial services investment projects in 2023, an increase of seven from 2022. Spain ranked fourth, with 17 projects, down from 31 in the previous year.
Total financial services FDI across Europe increased to 329 projects in 2023, up from 292 in 2022, marking a 13% year-on-year growth. This growth outpaced the overall European FDI project growth, which saw a 4% decline during the same period. In contrast, other professional services sectors, such as tech/digital and business services, experienced year-on-year project declines of 19% and 27%, respectively.
The UK is now home to a third (33%) of all European financial services FDI projects, having boosted its market share from 26% in 2022. By comparison, France and Germany
