UK found to be hottest investment destination despite Brexit - knocking the US from the top spot

Mail Online | 4/10/2019 | David Wilcock, Whitehall Correspondent For Mailonline;Associated Press
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Britain was today named as the world's top investment destination for businesses despite Brexit, knocking the United States off the top spot for the first time in five years.

The survey on corporate deal-making by consulting and accounting firm EY said Britain was the top investment destination in the world for the first time in the report's 10-year history.

Pound - Fall - June - Vote - European

The pound's fall since the June 2016 vote to leave the European Union has made British assets cheaper, but Steve Krouskos, a global vice chair at EY, said Britain also remained an 'open environment for foreign investors' even in the midst of the Brexit chaos.

That culture, he said, is reinforced by the English language, a skilled workforce, and a strong technology base.

Strengths - Britain - Place - Business - Shock

Those long-standing strengths have helped Britain recover as a place to do business since the shock of the June 2016 referendum, which saw the country narrowly vote to leave the EU.

With so much uncertainty surrounding the future of the British economy, the country slumped down EY's rankings. In the October 2016 survey, Britain was as low as seventh.

Number - Investments - Britain - Year - Comcast

There have been a number of high-profile investments in Britain over the past year, including Comcast's purchase of satellite broadcaster Sky for around 30 billion pounds (currently $39 billion) and Coca-Cola's takeover of Costa Coffee for near 4 billion pounds ($5.2 billion).

Krouskos said he hasn't encountered executives who want Britain to crash out of the EU without a deal and that the remainder are 'split down the middle' between those who want the country to leave the bloc smoothly...
(Excerpt) Read more at: Mail Online
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