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Paris Beats London As Investor Pick For First Time In More Than A Decade
Paris has beaten London as the most attractive European city for investors for the first time in more than a decade, as Brexit fears begin to taint the U.K. capital, according to a report.
The French city was ranked No. 1 for foreign direct investment by 37 percent of businesses in an Ernst & Young report published Monday. Britain’s departure from the European Union and the election of French President Emmanuel Macron were among the reasons Paris bumped London for the first time since the EY survey began in 2003. London came in second, followed by Berlin and Frankfurt.
The report, based on a survey of 502 companies and data from EY and International Business Machines Corp., showed FDI in Europe grew 10 percent last year, its lowest since 2013. While the U.K. topped the league tables with 1,205 of the 6,653 new FDI projects, the number was only 6 percent higher than in 2016, showing a slowdown in growth. France won 31 percent more investments in 2017 and projects in Turkey increased 66 percent.
