Foreign direct investment: Ireland ranks fourth in Europe

DUBLIN: According to a new survey, Ireland ranks fourth in the list of European countries in terms of Foreign direct investment.

The findings are from the EY European Attractiveness Survey conducted in 47 countries in October. Survey participants were asked to select three European countries that they believe will be the most attractive for investment in 2021. The top three are Germany, the UK and France.

The research revealed FDI trends and changes in investors from the last survey in April. More and more investors expect Europe to be a more favorable place for foreign direct investment after COVID-19. 21% of investors hold this view compared to just 8% in April. Fifty-one percent said Europe would be more attractive for foreign investment in post-COVID world. It was 43% in April.

In October, 42% of executives expected a drop in investment plans in 2020. In April, it was 66%. 10% of executives are now expecting a rise in investment before the end of 2020-compared to no executives who responded in April.

Interest in Ireland among foreign investors has remained unchanged for the past six months amid global economic uncertainty. EY Ireland Partner & Head of FDI Feargal De Freine said it was comforting.

“Ireland’s position as the fourth most attractive European country for investment in 2021, behind the three powerhouse economies of Germany, the UK, and France, positions us well to compete for growing levels of global FDI as we navigate 2021,” Mr. Freine said.