Foreign Direct Investment (FDI) plays a key role in job creation and economic productivity. An Irwin Mitchell report shows why the UK’s economy is growing and how foreign investment is shaping our future.
The report shows the UK’s regional and city economies saw a strong economic recovery with the lifting of COVID-19 restrictions in 2021. But this has varied across cities, both in terms of output and employment.
The report highlights incredible growth, with Southampton in close second place overall with an increase of 8.4% this year.
Transport and storage is one of the city’s largest industries, reflecting its position on the coast and large port infrastructure. This has allowed the city to benefit from the recovery in global trade volumes since the start of the pandemic, fuelling its growth.
Recent government announcements suggest that Southampton’s growth prospects could pick up again in the longer term, with the city expected to be at the forefront of the rapidly developing hydrogen economy following the receipt of large-scale funding.
Read the full report here
Source: Irwin Mitchell