Sandy Begbie, chief executive of Scottish Financial Enterprise, said the latest EY Scotland Attractiveness Survey reinforced Scotland’s position as a major investment hub and highlighted significant opportunities for future growth.

He said: “This report underlines Scotland’s leading position outside London as a destination for foreign investment. As well as contributing £17.7bn GVA to the Scottish and UK economies – 10.5% of the Scottish economy – Scotland continues to punch above its weight on the global stage.

“These figures back up what we heard at Scotland’s Global Investment Summit last October, that there is huge positivity towards Scotland as a location. For investor sentiment to match that of London, the opportunities that exist for Scotland are clear.

“In turning this positive sentiment into continued investment, it is vital that industry, government and regulators work closely together to promote these opportunities and also remove barriers to firms looking to invest.”

The EY survey found Scotland secured 108 inward investment projects in 2025, retaining its long-held position as the top UK destination for foreign direct investment outside London despite a 20% year-on-year decline in project numbers.

Investor confidence in Scotland remained strong, with one-third of those planning UK investment saying they intend to invest in Scotland, up from 27% last year. The research also found Scotland remains the most attractive UK destination outside London among international investors.

The financial services sector emerged as a particular bright spot. More than half (52%) of financial services investors planning UK expansion over the next 12 months said they expect to invest in Scotland – matching London’s score and doubling sentiment levels recorded a year earlier.

Edinburgh was ranked the most attractive UK city outside London for future investment, while Glasgow also featured strongly in investor plans.

The report said Scotland’s strengths continue to include its highly skilled workforce, strong infrastructure and established reputation in sectors such as financial services, technology and professional services.

Despite broader economic uncertainty and a slowdown in global investment flows, Scotland captured 14.8% of all UK foreign direct investment projects in 2025, remaining well above its long-term average share.