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US Corporations Cut Back on European Expansion

LONDON-US investment in Europe recorded its lowest level since 1997, according to Ernst & Young's European Investment Monitor. US Corporate investment in Europe fell 26% on 2000.

By Graham Parker | Updated on April 15, 2002

LONDON-US corporate investment in Europe in 2001 shrank by 26%, according to Ernst & Young’s European Investment Monitor as American firms trimmed expansion plans for the first time in more than four years. Only 733 new investments by US firms into Europe were logged during the year.

The cutbacks meant that US corporations’ market share of new European investment shrank from 44% in 2000to 37% last year: the lowest since 1997. The UK–traditionally the most popular destination for US capital–was the hardest market. The number of new US investments into the country dropped to 377 in 2001 from 575 a year previously. And London saw a 48% slump in US deals, although it remained the most popular location in Europe.

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