The record share of the market cements the country’s position as the UK’s top destination outside of London – for the tenth year in a row – while Aberdeen, Edinburgh and Glasgow remain among the top 10 UK cities for Foreign Direct Investment (FDI) projects outside of London.

Although the total number of new projects in Scotland fell back slightly (4.9%) from record numbers in 2023, it compares to a drop of 13% in the UK, 14% in France and 17% in Germany.

EY’s survey of global investors found that quarter of those planning to invest in the UK are targeting Scotland, maintaining the country’s long-standing position in investors’ eyes as the UK’s preferred FDI destination outside of London.

To mark the results, Deputy First Minister Kate Forbes visited the Glasgow offices of Canadian IT and business consulting services firm CGI Inc. – which employs around 750 employees across its Glasgow, Edinburgh, Borders and Aberdeen offers.

The Deputy First Minister Kate Forbes said: “Given the geopolitical uncertainties clearly affecting investor confidence across the world, this is an incredible endorsement of Scotland’s proposition as a destination for global investment.

“A huge amount of work, across both the private and public sectors, goes into securing these projects, which are vital for economic growth, job creation and bringing benefits across our towns and cities.

“From the likes of green aircraft engine ZeroAvia to ticketing hub Humanatix, 2025 is bringing further significant investment and exciting projects to Scotland. The Scottish Government will continue to work with businesses and our ‘Team Scotland’ partners to continue building the country’s reputation as a world class location for foreign investment.”

Chief executive of Scottish Enterprise Adrian Gillespie said: “It’s fantastic to mark a decade of Scotland as the number one UK location for inward investment outside of London. Foreign direct investment unlocks innovation, creates jobs, and opens up new supply chain opportunities for Scottish companies.

“Our staff in over 30 offices around the world are vital to building these trusted relationships with potential inward investors, which can often take years to cultivate. This work is complemented by colleagues at home working with Team Scotland partners to build a package of support to bring these companies to Scotland.”

Mr Gillespie continued: “Scotland’s strengths in emerging technologies, including AI, are attracting new foreign investors, with US robotics and AI company LaunchPad Build opening an Edinburgh office last year. Together with Scotland’s historic reputation for financial services excellence, this is driving further investment, such as Australian fintech HALO opening its Glasgow operations centre last year.

“The global energy transition, and Scotland’s growing reputation in this area, continues to be a catalyst for innovation, with US headquartered ZeroAvia locating its manufacturing facility for hydrogen aviation engines next to Glasgow airport and Japanese sub-sea cable manufacturer Sumitomo breaking ground on its factory in Port of Nigg.”

CGI senior vice president, Scotland and Northern Ireland, Lindsay McGranaghan said: “CGI has been working in Scotland for more than 10 years, and we find it an outstanding place to do business and grow talent.

“We have established offices in Glasgow, Edinburgh, Aberdeen and Tweedbank, and employ 750 staff – who we call partners – who support key sectors such as government, health, energy and higher education. 

“Six years ago we expanded our presence with the opening of a new HQ in Glasgow, and we embrace the metro model of working – building a resource of Scottish-based partners who live and work in their local communities. We have also developed partnerships with a host of Scottish SMEs, helping small businesses grow while supporting regional economic development.

“As the UK’s leading FDI location outside London for a decade, Scotland’s resilience and appeal are clear. We are proud to play our part in that success, and look forward continuing to grow our business in Scotland.”