LONDON (Reuters) – Britain attracted more foreign direct investment (FDI) projects in 2022/23 than the previous year, but they generated fewer new jobs, government figures showed on Tuesday.
Data from the Department for Business and Trade showed that while the total number of FDI projects rose to 1,654 from 1,589, the new projects created 79,549 jobs, down slightly from the 84,759 jobs created in 2021/22.
While almost all regions in England saw fewer new FDI projects in 22/23, the West Midlands bucked that trend, with 181, compared to 143 the previous year.
The West Midlands, which contains Birmingham, was the only region in England along with London to see a growth in the number of new FDI projects. Scotland, Wales and Northern Ireland also saw more projects than in the previous year.
(Reporting by Alistair Smout; editing by William James)
