Dublin scores well in FDI report
22 December 2016 | 0
Dublin has displaced Hong Kong to take third in the “Global Cities of the Future 2016/17” report by fDi.
The report says that while foreign direct investment (FDI) has not yet returned to its peak in 2011, some 12,882 projects were recorded in 2015.
Singapore topped the list with 1,907 inward FDI projects between 2011 and 2015, the highest number of investments of all cities globally. The city is well established as a services hub, with more than half of the city’s investment in the software and IT, business services and financial services sectors. London followed, with Dublin third.
In placing second overall, London was placed first in the Connectivity category and second for Economic Potential and Business Friendliness. The city’s six international airports serve more than 300 global locations directly, the highest of all locations analysed, making the city the most accessible in our ranking for air passengers.
Dublin displaced Hong Kong to rank third overall ranking, with third placing too in the Economic Potential and Business Friendliness categories. The report says the city continues to go from strength to strength as a hub for software and IT FDI, which accounted for 45.2% of all Dublin’s FDI between 2011 and 2015. Job creation from software-related FDI experienced year-on-year growth in this time, peaking in 2015 with 3719 jobs. Major investors in the sector include Microsoft, Google and LinkedIn.
Interestingly, Dublin did not figure in the top 10 for FDI strategy, where Edinburgh took top spot, followed by Hong Kong and Chicago.