Europe's investment attractiveness halved since 2006: study
(PARIS) - Europe's attractiveness among foreign investors has more than halved since the onset of the global financial and eurozone debt crises, according to a survey published Tuesday.
A survey by the Ernst & Young consultancy found "the score awarded by investors, who once ranked Europe as the most attractive destination for an FDI (foreign direct investment) project, has fallen by more than one-half since 2006."
In its latest survey on investment attractiveness, 33 percent said Western Europe was the top region, down by two percentage points from last year and from 68 percentage of respondents in 2006.
Central and Eastern Europe was the top choice of 21 percent of respondents, a drop of eight percentage points from the year and 52 percent in 2006.
Despite concerns driven by the eurozone debt crisis, the survey still found investors considered Western Europe to be the second most attractive destination for investment after China at 44 percent.
Central and Eastern Europe tied with North America for third place.
The Ernst & Young report said the results "confirm the strong fundamentals and strengths of Europe," and noted that number of FDI projects in Europe rose last year, as did the number of jobs they created.
Global FDI surged 17 percent in 2011 to $1.5 trillion, with Europe's share rising from 26.9 percent in 2010 to 28.2 percent in 2011, said the report.
Text and Picture Copyright 2012 AFP. All other Copyright 2012 EUbusiness Ltd. All rights reserved. This material is intended solely for personal use. Any other reproduction, publication or redistribution of this material without the written agreement of the copyright owner is strictly forbidden and any breach of copyright will be considered actionable.