UK now biggest investment destination despite Brexit

Tobi Ijalana

In a publication on Monday, consulting and accounting firm EY says Britain is the top investment destination in the world for the first time since 10 years overtaking the United States holding the top spot since 2014.
Steve Krouskos, a global vice chair at EY, said Britain still remains an open environment for foreign investors even in the midst of Brexit chaos which is reinforced by the English language, a skilled workforce, and a strong technology base.
According to abcnews.go,, 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.
“The increase in acquisition appetite is a clear indication that executives are focused on their pursuit of growth, underpinned by high expectations of their own future performance,” he said.
“There is uncertainty in the market, but for many, disruption is driving M&A rather than stalling it.Deals are a means to reshape portfolios at an accelerated pace and futureproof businesses.”
In the October 2016 survey, Britain was as low as seventh.
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).