Britain remains the top European destination for foreign investment, although its lead over France and Germany has narrowed.
According to the latest Attractiveness Report, digital investment into the UK has increased 22 per cent, helping to offset a decline in investment to sectors such as financial services and logistics.
The UK attracted 18 per cent of all foreign direct investment into Europe last year, but was only the third most attractive place to invest in the future, behind Germany and France.
According to separate figures from London & Partners, the UK continues to be the leading European destination for international tech investors, with British tech companies attracting almost three times more venture capital investment than any other European country over the past two years.
The research by Dealroom and Tech Nation has also revealed that British tech businesses attracted $7.8 billion (£5.8 billion) of funding last year, almost double the amount received in 2016. The research also showed that the UK’s venture capital investment last year was higher than Germany’s total of $3.2 billion and France, which brought in $2.8 billion.
The Mayor of London Sadiq Khan says: “London is the undisputed tech capital of Europe and today’s figures offer further proof that London remains a leading global tech hub for investors. With world-class universities and a diverse international talent pool, London is a centre for creative energy and innovation.
“London’s tech sector is an important source of jobs and growth for the city’s economy and it is vital that we continue to ensure that we can attract the very best talent and investment from all over the world in the aftermath of Brexit.”
Sherry Coutu CBE, London Tech Week ambassador and angel investor adds: “With a high number of scale-ups and high growth companies, it is no surprise to see that London and the UK continues to be a leading destination for international tech investors.
“From Artificial Intelligence to cyber security, EdTech and GovTech, the UK is home to companies that are leading the way in developing and implementing the latest cutting-edge technologies.”
Beavis Morgan – specialist advisers to the tech sector
Whilst we don’t yet know what the economic landscape will look like post Brexit, we do believe that London will continue to shine as one of the world’s leading technology hubs.
Being centrally located within walking distance of “silicon roundabout”, our business experts at Beavis Morgan specialise in working with entrepreneurial people in the tech sector, helping them set up and run their own businesses and guiding them through each stage of the process, whilst navigating the challenges and advising them in making the right decisions both now and for the future.
Whether you are a local or international investor, we are also able to identify and review potential business targets on your behalf, as well as undertake due diligence, deal structuring, advise on efficient tax planning, and provide a comprehensive range of professional services to help you make the most of your investment.