RED BANK, NJ — June 28, 2024 — Business Facilities has revealed several of the Global leaders in its 20th Annual Rankings Report. Focused on more than 60 factors pertinent to site selection teams for business relocation and expansion investments, these annual rankings serve as a valuable resource for corporate site selectors and site selection consultants. Comprised of State, Metro, and Global rankings, the 20th Annual Rankings Report will be published in the July/August 2024 issue of Business Facilities.
“The global economy, while undergoing significant shifts, remains resilient,” said Business Facilities Editorial Director Anne Cosgrove. “Foreign direct investment activity connects the economies of the world, while renewable energy and AI are among the myriad aspects linking people across the globe. This year’s Ranking Report is a tool for site selection professionals to reference when searching for their next international business location.”
Foreign Direct Investment Leaders
Across the globe, foreign direct investment (FDI) held strong during 2023, even with a 2% decrease compared to 2022 activity. According to a June 2024 World Investment Report from UN Trade and Development (UNCTAD), global FDI totaled $1.3 trillion in 2023. The UNCTAD report points to increasing trade and geopolitical tensions in a slowing global economy as a reason for the second consecutive annual decrease.
Still, activity remained strong for many nations, especially the United States, which leads the FDI (Worldwide) Business Facilities 2024 ranking. The U.S. attracted $341.4 billion during 2023 and has been the leading destination nation for inward FDI for 12 years.
The Top 3 countries for inward FDI in 2023 also include Brazil and Canada. These leaders were followed by these countries which also attracted significant investment: China, Germany, Mexico, Spain, Australia, France, and Sweden.
Read more from Business Facilities 20th Annual Rankings Report
Rise Of Renewable Energy
According to the Global Electricity Review 2024 report from energy think tank Ember, solar and wind power accounted for 13.4% of global electricity in 2023. This year’s Business Facilities Global Rankings Report includes a look at the leading nations for Solar Power (Installed Capacity) and Wind Power (Installed Capacity).
The top 3 nations for Solar Power (Installed Capacity) are: China, United States, and Japan, followed by Germany, India, Brazil, Australia, Spain, Italy, and South Korea. The Top 3 nations reflect a repeat ranking from last year’s rankings, while Australia and Spain are newcomers to the list.
The Wind Power (Installed Capacity) ranking is led by China, United States, and Germany, followed by India, Spain, United Kingdom, Brazil, France, Canada, and Sweden.
AI Growth Hubs
This year, the Business Facilities ranking looked at several factors related to the Artificial Intelligence (AI) economy on a global scale, including capital investment by country, number and success of startups, and development of machine learning models.
The AI Growth Hubs ranked as the Top 3 are United States, China, and United Kingdom. Rounding out the category due to notable activity and advancement: Canada, Germany, France, Israel, India, Japan, and Singapore.
For more information about the Business Facilities 20th Annual Rankings, please contact Anne Cosgrove, Editorial Director at acosgrove@groupc.com.
Business Facilities is a leading full-service media brand specializing in the site selection marketplace. Through a bi-monthly magazine, e-mail newsletters, a news portal, and its LiveXchange event, Business Facilities has created a dynamic community for C-level executives and economic development organizations. The Business Facilities brand consistently focuses on innovative, strategic ideas that help C-Level executives make the best location choices.
