Brexit clouds financial investment outlook in London – EY Survey

According to the latest survey from consultants EY, London received the most foreign investment in financial services among European cities again last year.

However, the future prospects for the UK capital remain bleak due to Brexit.

Key Findings (via Reuters):

“Britain attracted 112 foreign direct investment (FDI) projects in 2018 - with 27% from the United States - well ahead of Germany in second place with 81 projects, EY said, giving no monetary value to total investments.

London, Europe’s biggest financial centre, recorded 86 FDI projects, the most of any European city, and up from 47 in 2017.

Investor sentiment for the longer-term has fallen to an all-time low as continued uncertainty over Brexit takes its toll, EY said.

Nearly half of the 68 senior executives, chairs and presidents of financial firms in Britain and abroad polled by EY believe that Britain’s attractiveness will fall over the next three years.”