Today (7 May 2025) the Lord Mayor of London, Alastair King, will hail the UK as a “harbour of stability for international investment amid increasingly stormy seas” at the Business and Trade Dinner alongside Secretary of State for Business and Trade, Jonathan Reynolds.
The event is being held at a pivotal point for global trade. Attendees including hundreds of business leaders and senior policymakers will discuss opportunities and challenges shaping global trade and enterprise. Speaking alongside the Lord Mayor, the Secretary of State for Business and Trade, Jonathan Reynolds, will outline the government’s plans to unlock trade-led growth and raise living standards across the country and beyond.
To coincide with the occasion, the Corporation can reveal that the UK remains the top European destination for foreign direct investment (FDI) in financial and professional services, and third globally after the United States and India.
The new report “The UK: a top destination for financial and professional services investment: Trends in 2024” found that the UK attracted 235 FDI projects worth £1.6bn in financial and professional services in 2024, a 45% increase from 2023 and ahead of Spain (141) and Germany (114).
The event and report come at a time of significant change in the global trading landscape. This week, the UK became one of the first countries to conclude a comprehensive free trade agreement with India – the world’s fastest-growing major economy. This landmark deal is expected to boost bilateral trade by £25.5 billion and could add £4.8 billion annually to the UK economy by 2040. The UK Government is also preparing to release its new trade strategy, while the upcoming UK-EU Summit later this month presents further opportunities for international collaboration.
Reflecting on this, the Lord Mayor of London, Alastair King, is expected to say:
“The UK has always been a champion for open, fair, rules-based trade. At a time when some other countries are rolling down the shutters, there is an opportunity for the UK – already a well-trusted partner to many – to attract new business and investment from new and existing partners, and to work with them to tackle challenges that affect us all.
“The UK can be a harbour of stability for international investment amid increasingly stormy seas; the new independent business capital for the world.
“As businesses re-evaluate their global strategies, London offers a compelling proposition. The opportunity is there. But, we must have the wit and the drive to grasp it.
“Now is not the time to be shy about our strengths. Now is the time to build on the momentum of the UK-India trade deal to jump on planes…and bang on doors…and present the UK’s offer to partners old and new.
“If we do that, we will secure new business, investment and growth for the UK. And will be saying to the world that free trade is here to stay.”
Chris Hayward, Policy Chairman at the Corporation, said:
“The UK’s financial and professional services sector has proven resilient in the face of global headwinds. The sector is a magnet driving further investment, jobs and prosperity across the whole of the country.
“It is vital that we continue to build on this success by future-proofing the sector to ensure we remain globally competitive.”
ENDS
Notes to editors
About the Corporation
The Corporation is the governing body of the Square Mile dedicated to a vibrant and thriving City, supporting a diverse and sustainable London within a globally-successful UK.
About the research
This publication was produced by the Corporation using data provided by fDi Markets, a service from The Financial Times Limited, accessed in April 2025. In this analysis foreign direct investment refers to cross-border investments from one country to another either through setting up a new entity or expanding the operations in the investment destination. Franchises and M&A activities are excluded.
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