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| Olympic job boost as government hails rise in foreign investment | |
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| More than 30,000 new jobs were created last year on the back of the Olympics as foreign investors poured more than £2.5bn into the UK, according to preliminary government figures released on Thursday. | More than 30,000 new jobs were created last year on the back of the Olympics as foreign investors poured more than £2.5bn into the UK, according to preliminary government figures released on Thursday. |
| The boost to inward investment follows efforts by British embassies, which held a series of summits in fast developing economies linked to the Olympics and Paralympic Games, said trade and investment minister Lord Green. | The boost to inward investment follows efforts by British embassies, which held a series of summits in fast developing economies linked to the Olympics and Paralympic Games, said trade and investment minister Lord Green. |
| Data released to coincide with the annual Global Investment conference in London showed that during the last year UK Trade & Investment (UKTI) recorded 1,462 projects that brought with them or safeguarded 163,489 jobs, of which 58,170 are new jobs. | Data released to coincide with the annual Global Investment conference in London showed that during the last year UK Trade & Investment (UKTI) recorded 1,462 projects that brought with them or safeguarded 163,489 jobs, of which 58,170 are new jobs. |
| UKTI, which is an arm of the Business Innnovation & Skills department, said it was involved in 84% of the projects and 31,000 of those new jobs were directly linked to the Olympics. | UKTI, which is an arm of the Business Innnovation & Skills department, said it was involved in 84% of the projects and 31,000 of those new jobs were directly linked to the Olympics. |
| UKTI has sponsored the Global Investment conference for the last three years, bringing together a wide range of potential investors from the US, Europe, Japan and many developing economies. | UKTI has sponsored the Global Investment conference for the last three years, bringing together a wide range of potential investors from the US, Europe, Japan and many developing economies. |
| Lord Green said: "Foreign investment creates hundreds of thousands of jobs and helps to increase productivity and competitiveness in the UK economy. It's a vital strand of the government's plan for growth. | Lord Green said: "Foreign investment creates hundreds of thousands of jobs and helps to increase productivity and competitiveness in the UK economy. It's a vital strand of the government's plan for growth. |
| "The 2012 Olympics were a once in a generation opportunity for the UK to showcase to the world Britain's compelling investment offer and these preliminary figures are very encouraging." | "The 2012 Olympics were a once in a generation opportunity for the UK to showcase to the world Britain's compelling investment offer and these preliminary figures are very encouraging." |
| The figures show a 4% increase in the number of projects compared with the previous year and a 45% increase in the number of safeguarded and new jobs. | The figures show a 4% increase in the number of projects compared with the previous year and a 45% increase in the number of safeguarded and new jobs. |
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