# Over 8,500 New Jobs Created In Financial Services From Foreign Direct Investment In 2016-17 Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2017-09-20 Category: NEWS Category URL: https://financedigest.com/category/news Meta Title: UK Foreign Direct Investments Post-Brexit: Creating 75,226 Meta Description: Discover how FDI projects in various sectors are projected to create thousands of new jobs in the UK, despite Brexit uncertainties. URL: https://financedigest.com/over-8500-new-jobs-created-in-financial-services-from-foreign-direct-investment-in-2016-17html ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/fd200917-12-1736843473045-compressed.jpg) - **FDI made in financial services will provide 8,847 new jobs** - **FDI projects in business and consumer services are set to create the highest number of** **new jobs at 13,603** - **FDI projects in the extraction industries will create the least number of new jobs at just** **under 650** - **Overall, foreign direct [investments made in the financial year](https://www.financedigest.com/halfway-through-2021-what-can-you-do-now-to-finish-the-2021-investment-year-strong.html "Halfway through 2021, what can you do now to finish the 2021 investment year strong?") of 2016-17 are projected to** **create 75,226 new jobs** For many experts and professionals in business – ‘Brexit’ in their view was a calamitous decision following 52% of UK’s electorate [vote to leave the European Union](https://www.financedigest.com/london-ambulance-service-workers-to-vote-on-strike-action-union.html "London Ambulance Service workers to vote on strike action – union") after 43 years of membership. One of the underlying worries amongst these individuals was the impact uncertainty (manifested through Brexit) would have on foreign direct investments (FDI)in the UK. Despite their concerns, even in the immediate aftermath of Brexit, the United Kingdom still managed to attract bias the impact uncertainty (manifested through Brexit) would have on foreign direct investments (FDI)in the UK.g investments. These investments were highlighted by pharmaceutical giants GlaxoSmithKline, who announced their intention to [invest an astronomical £275 million](https://www.financedigest.com/heineken-to-invest-300-million-in-brazil-to-expand-premium-beer-portfolio.html "Heineken to invest 0 million in Brazil to expand premium beer portfolio") in three of its UK manufacturing sites just a month after the EU referendum (July 2016). Furthermore, Ernst & Young (EY) surveyed 505 international decision-makers, and found the UK is still reigning supreme as the most desirable European country for [foreign businesses](https://www.financedigest.com/foreign-business-travel-missing-ingredient-for-irish-hotel-recovery-dalata.html "Foreign business travel missing ingredient for Irish hotel recovery – Dalata") to invest in new projects. This notion was further supported by figures from the Organisation for Economic Co-operation and Development (OECD) who illustrated that FDI inflows had soared to £197 billion in 2016; an increase of 20% from the previous year (2015 – £164 billion) and signified the [highest level of recorded](https://www.financedigest.com/uk-inflation-hits-40-year-record-highest-in-g7.html "UK inflation hits 40-year record, highest in G7") inflows since 2005. [Turnerlittle.com](https://www.turnerlittle.com/), specialists in banking and investment, investigated the jobs which would be created from foreign direct investments in the UK. Turner Little analysed the latest findings from Gov.uk to show exactly how many new [jobs had been projected in UK’s different sectors as a direct result of FDI made](https://www.financedigest.com/britains-next-buys-failed-furniture-retailer-made-com-400-jobs-axed.html "Britain’s Next buys failed furniture retailer Made.com, 400 jobs axed") in the financial year of 2016-17. Turner Little found that overall, foreign direct investments made in the financial year of 2016-17 are [projected to create a total](https://www.financedigest.com/automotive-light-bars-market-expanding-at-a-healthy-5-3-cagr-the-market-size-is-projected-to-total-us-1-3-bn-by-2029.html "Automotive Light Bars Market expanding at a healthy 5.3% CAGR, the market size is projected to total US$ 1.3 Bn by 2029") of **75,226 new jobs.** FDI projects in **business and** [consumer services](https://www.financedigest.com/keeping-up-with-heightened-consumer-expectations-in-financial-services.html "Keeping up with heightened consumer expectations in financial services") are set to create the highest number of new jobs at **13,603 – the equivalent of 262 new jobs per week.** Thereafter, FDI [projects in **software and computers** are expected to be the next](https://www.financedigest.com/digitally-projected-revenue-to-be-the-unique-selling-point-of-next-generation-centrifuge-market.html "Digitally projected revenue to be the unique selling point of Next Generation Centrifuge Market") largest sector for new jobs created at **10,971**. The third highest number of new jobs from FDI will be created by projects in the **financial [services sector](https://www.financedigest.com/why-the-financial-services-sector-could-thrive-in-the-subscription-economy.html "Why the Financial Services sector could thrive in the subscription economy") at 8,847.** On the other end of the scale, FDI projects in the **extraction [industries will create](https://www.financedigest.com/strict-regulations-regarding-hygiene-at-industrial-workplaces-to-create-high-demand-for-industrial-dispensers-persistence-market-research.html "Strict Regulations Regarding Hygiene at Industrial Workplaces to Create High Demand for Industrial Dispensers: Persistence Market Research") the least number of new jobs (642) – the equivalent of just 12 jobs per week**. Only slightly higher with more new jobs(787) predicted from FDI projects made in 2016-2017, was the chemicals and agriculture sector. **James Turner, Managing Director of Turnerlittle.com commented:** _“I am very optimistic about the country’s future. Despite the lurking shadow of Brexit, the United Kingdom will continually strive to [improve as well as nurture those aspects which allow businesses](https://www.financedigest.com/how-can-call-tracking-improve-your-business.html "How can call tracking improve your business?") to_ _thrive – even in challenging conditions. From infrastructure to technology – the United Kingdom is harbouring an environment which has the ability to [successfully facilitate businesses](https://www.financedigest.com/why-start-ups-fail-5-barriers-to-business-success-and-how-to-overcome-them.html "Why start-ups fail: 5 barriers to business success and how to overcome them") from a range of different industries. This research certainly shows that many foreign businesses and [investors share](https://www.financedigest.com/virgin-money-shares-leap-on-higher-profit-investor-payouts.html "Virgin Money shares leap on higher profit, investor payouts") the same sentiments about the future of business in the UK – making large investments and creating new jobs even in the backdrop of Brexit.’_ ![Turnerlittle.com_Foreign_Direct_Investment_Financial_Services_Press_Release](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/fd200917-13-1736843473107-compressed.jpg) --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---