London, UK Britain was the top destination in Europe for foreign investment last year according to a survey carried out by IBM, but the fast-growing economies of eastern Europe are challenging its lead.
While the UK saw more jobs created with overseas funds than any other European nation in 2003, the Czech Republic, in second place, managed to gain ground as Russia also shot up to fourth place.
Roel Spee, an IBM consultant, said “The UK is quite well-positioned to remain on top for quite some years within the western European context. But the balance between eastern and western Europe is in flux and all western countries have lost out to the newcomers. Companies are increasingly recognising the pool of talent there.”
Overall 55,000 jobs were created in the UK with overseas investment in 2003 which was a 15 per cent share of all new jobs in Europe. Worldwide, the US scored first place with Britain in fourth position.