The North is outperforming the rest of the country when it comes to attracting foreign direct investment, a new report says.
Analysis released by the Northern Powerhouse Partnership suggests foreign direct investment into the North has gone up 72% in the last five years despite dropping across the rest of the UK. Overseas investment into the North rose from $25.4bn between 2012-16 to $43.7bn between 2017-21, helping to create more than 60,000 jobs.
By contrast, foreign investment into Greater London dropped 14% over the same time period and fell 16% in the rest of England. The report’s authors say that moves by former Chancellor George Osborne - who chairs the Northern Powerhouse Partnership - to heavily market the North on overseas trade missions paid dividends.
