{"id":24525,"date":"2019-11-12T16:08:51","date_gmt":"2019-11-12T16:08:51","guid":{"rendered":"https:\/\/ihbconline.co.uk\/newsachive\/?p=24525"},"modified":"2019-11-09T17:10:58","modified_gmt":"2019-11-09T17:10:58","slug":"more-looking-ahead-to-old-towns-new-futures-and-ihbcbrighton2020-with-warnings-that-towns-are-starved-of-investment-because-much-foreign-investment-goes-to-citi","status":"publish","type":"post","link":"https:\/\/newsblogs.ihbc.org.uk\/?p=24525","title":{"rendered":"More looking ahead to \u2018OLD TOWNS : NEW FUTURES\u2019 and #IHBCBrighton2020, with warnings that towns are \u2018starved of investment\u2019 because much foreign investment goes to cities"},"content":{"rendered":"

\"\"New research in the \u2018UK Attractiveness Survey\u2019, by Centre for Towns and EY (linking to Ernst and Young), entitled \u2018Trends in foreign direct investment in the UK Towns<\/em>\u2019, has found that 59% of all foreign direct investment (FDI) coming into the UK went to core cities, such as London, Manchester, and Leeds, in 2018.<\/h3>\n

<\/p>\n

EY writes:<\/p>\n

Our regional UK Attractiveness Survey report, in association with the Centre For Towns, reveals the stark and deepening disparity of foreign direct investment (FDI) flows into the UK, with its largest cities attracting an ever-greater share of inward investment and little signs of spillover benefit for the areas surrounding them.<\/p>\n

This joint report, which captures detailed analysis on where FDI has located across the UK\u2019s cities, towns, communities and villages over the last twenty-one years, also points to a continued structural imbalance between London and the South East and the rest of the UK in terms of overseas investment inflows.<\/p>\n

The towns and conurbations on the periphery of the UK\u2019s Core Cities are facing unprecedented economic challenges, but what is particularly worrying is how deep the economic disparity between cities, towns and smaller communities has become over the last 12 months. Core Cities have been far more successful attracting FDI, while levels of investment in other locations has, at best, flatlined over the past 20 years.<\/p>\n

\u2018UK economic policy has tended to be based around Core Cities and this is likely to have exacerbated the geographic disparities in attracting FDI. With Brexit one of a range of challenges facing the UK economy it is vital that a new approach to FDI policy, centred on geography, is developed as a priority\u2019 said Mark Gregory UK Chief Economist, EY.<\/p>\n

Key findings<\/p>\n