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Paris beats London as Europe's favourite investment destination: EY

Reuters  |  PARIS 

(Reuters) - An survey shows has overtaken as Europe's most attractive destination for foreign investors for the first time since began such reports 15 years ago.

The change in the continent's pecking order is a sign of the impact of both and the "Macron effect".

The French capital was ranked No. 1 for by 37 percent of businesses, based on a survey of 502 companies and data from and covering 2017.

Britain as a whole remained Europe's top destination for in 2017, with 1,205 of the 6,653 new FDI projects in Europe, ahead of Germany's 1,124 projects and France's 1,019 projects.

But France's number was up 31 percent in one year, while the number of investment into Britain was 6 percent higher than in 2016, showing a slowdown in growth.

This was the first time has outdone since the annual survey started in 2003. came third and fourth. "The UK is feeling the effect of Brexit," the report said.

"Investment slowed after the 2008 financial crisis, but is now in catch-up mode, and a beneficiary of Brexit," it added, citing Emmanuel Macron's reforms to make the labour market more flexible.

For full study, click on:$FILE/EY-Attractiveness-Survey-Europe-June-2018-Game-changers.pdf

(Reporting by Michel Rose; Editing by Angus MacSwan)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, June 11 2018. 15:44 IST