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Manchester named top UK city for Foreign Direct Investment

February 21, 2024

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Key Highlights

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  • Manchester has been named one of the UK’s best cities for foreign direct investment by the FDI.
  • The Greater Manchester Business Board has been  recognised as being second best LEP in the country for their efforts in driving innovation and investment in their region.

Manchester has been named as one of the UK’s best cities for foreign direct investment in the FDI Intelligence European Cities and Regions of the Future 2024 report. This recognition confirms that Manchester continues to be a thriving hotspot for growth and innovation.

In the report, The Greater Manchester Business Board (LEP) was recognised for their work and guidance when supporting growth in the city. The board is a body that aims to drive business growth and innovation, develop local skills, source direct investment and reform public services. It was voted second in the UK Local Enterprise Partnerships for best LEP overall. Alongside this, they won in a further four categories, including connectivity, economic potential, friendless, and FDI strategy.

 

Investment Criteria

The report assessed European cities on their economic and business strengths and successes. Research covered 330 cities, 141 regions, and 38 Local enterprise partnerships (LEPs). Out of all the UK cities and regions assessed, Manchester’s LEPs were recognised as being second best in the country for their efforts in driving innovation and investment in the region. The report acknowledged the city for its tech and innovation hubs for attracting investors from around the globe. In the rankings, it came second to only London.

It’s easy to see why Manchester has become such a regional business and investment hub in the UK in the past few years. The city’s economy has been predicted to see annual average growth of 2.5% between 2024 and 2026. In 2023, Greater Manchester achieved an increase of 18% in greenfield projects.

As for the top cities for investment overall, London came in first place, followed by cosmopolitan cities Amsterdam and Dublin.

 

Why Manchester?

Investors can look to Manchester as a prime property investment location, as the city continues to grow and expand. So far, Manchester’s city centre population stands at over 550,000, with this figure predicted to rise by 56,000 by 2034 – an increase of over 10%. More and more people are drawn to this enigmatic city due to the range and wealth of job opportunities, investments, culture, things to do, and attractive options to live.

This drive for investment also helps to increase prices in other areas, as these investments attract high quality renters and homebuyers. The city is still one of the best places in the UK for investors to purchase property to let or sell, with a predicted 15.4% increase in rent by 2026. It has never been a better time than now to invest in Manchester property.

Here at North Property Group, our experienced team can help you find the best investment opportunities in Manchester. We have a deep understanding of Manchester’s market, offering expert guidance so you can maximise returns and get the best out of your investment. Call us today to unlock Manchester’s investment potential.

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