FDI

With more than 550 businesses from China, 100 from Japan and 50 from Taiwan, Hamburg is also Germany’s major location for Asia-related expertise 2017 is proving to be a year of superlatives for Hamburg. In January, the Elbphilharmonie, one of the world’s most spectacular concert halls, was inaugurated atop a former port warehouse. For more than 100 years, the Kaispeicher A warehouse was a symbol of Hamburg’s mercantile trade.

Transformed into a temple of culture, it has been reborn as a new icon. Fusing the old brick walls of the port warehouse with the modern glass structure of the concert hall, the Elbphilharmonie is the architectural symbol of Hamburg’s future and a new landmark for the city. And as if the Elbphilharmonie wasn’t enough of a superlative, the European XFEL is now launching a science project that is unrivalled anywhere in the world. With investment twice as high as that of the Elbphilharmonie, this project, in which 11 countries are participating, will create the basis for new discoveries e.g. in the areas of disease processes and energy research. Further research institutes, especially from the Fraunhofer-Gesellschaft are currently being founded or expanded.

This year markets may well be volatile due to the changing of the guard in Washington, but where are the safer bets being hedged?

Despite persistent economic uncertainty, the Cruise Lines International Association (CLIA), the world’s largest cruise industry trade association is forecasting continued growth in Europe’s cruise market. The sector has grown by approximately 50% since 2008 and continues to develop year on year.  And, as more cruise ships get distributed to European operators, the cruise market will continue to expand, and the CLIA expects an estimated 25.3 million passengers to take to the high seas this year alone.

Scotland’s largest city, Glasgow is an economic and property powerhouse which generated £19.6 billion Gross Value Added (GVA) in 2015, the greatest of any Scottish city. It had the fastest growing economy in the UK 2013-14 (ONS), significantly outperforming all other UK core cities, and is set to grow by 7.2% by 2022. The city’s buoyant economy is founded on a diverse set of sectors which include digital technology, financial and business services, life sciences, low carbon, engineering, advanced manufacturing and design, tourism and major events, and the creative industries. This very diversity has been the key to the city’s economic resilience, through the impacts of global recession, and growth in recent years.

Redeveloping port infrastructure is an important driver of FDI .Opinion is split on Ireland’s FDI prospects in light of Brexit, but the Celtic Tiger has reason to be optimistic, as the country aims to exploit the uncertainty surrounding the UK and leverage its new status as the only significant English-speaking EU economy.

This is reflected in the mood in the country which is becoming more buoyant. A recent survey by Dublin Chamber of Commerce testifies to this, with only 39% of firms now believing Brexit will have a negative effect, down from 50% six months previously. Investors can expect to enjoy corporate tax advantages and access to a rich reservoir of skilled labour. This has led to renewed commitments to the country from major international tech firms since the UK’s decision to leave the EU, evidencing that this is a time of opportunity for Ireland as it looks to attract talent and increase its share of the pie across the board.