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In a significant boost to the UK economy, global chief executives have positioned Britain as the second most important market for international investment, surpassed only by the United States. This remarkable achievement marks the UK’s highest ranking in the 28-year history of PwC’s annual global CEO survey.
The comprehensive study, encompassing 4,701 chief executives across 109 countries, reveals that 14% of global business leaders intend to direct their largest international capital expenditure towards the UK. The United States leads with 30% of intended investment, whilst Germany, China, and India follow with 12%, 9%, and 7% respectively.
These findings arrive at a crucial moment as Chancellor Rachel Reeves leads a ministerial delegation to Davos, seeking to secure financing for the nation’s ambitious infrastructure and environmental programmes. The timing couldn’t be more opportune, with British business optimism showing marked improvement – 61% of UK chief executives express confidence in economic growth for the coming year, up from 39% in 2023.
The survey also highlights the UK’s pioneering position in artificial intelligence adoption, with 93% of British firms implementing AI technologies, surpassing the global average of 83%. However, this technological enthusiasm has yet to translate into substantial profitability gains, with only 14% of UK business leaders reporting improved financial outcomes from AI implementation, compared to 34% globally.
PwC UK’s Senior Partner, Marco Amitrano, whilst celebrating these results, emphasises the need for continued progress: “The UK’s relative stability amidst global uncertainty should not be underestimated, nor should its strength in key sectors including technology. However, maintaining Britain’s global standing requires a tangible path to growth and consistent government approach to business and investment.”
The survey results demonstrate that despite ongoing economic challenges, the UK continues to strengthen its position as a premier destination for global investment, though realising the full potential of technological advancements remains a key priority for sustainable growth.
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