Ernst & Young: West Midlands preferred choice for one in ten global investors

The West Midlands is the destination of choice for one in ten global investors looking to invest in the UK in 2013, according to a survey of spending intentions by Ernst & Young.

The analysis by Ernst & Young of the attitudes of 500 international decision makers found that automotive and energy companies were especially keen on the region as a bet for 2013, but that more needs to be done to build a brand for foreign direct investment.

The region is the preferred UK choice for 10% of investors for 2013, behind only London and the South East, but ahead of the North East England, (9%) East Midlands, (9%) North West, (7%) South West (7%)  Scotland, (5%) in Wales, (4%) in Yorkshire and 2% in the East of England.

However the survey reveals that 42% of investors say they lack the knowledge needed to choose a specific location in the UK, suggesting more needs to be done to market regions.

Ernst & Young’s UK Attractiveness Survey earlier this year revealed that there were 58 new foreign direct investment (FDI) projects in the region in 2011 compared to 91 the previous year, but these created 6,738 jobs, almost 3,000 more than 2010.