The 2022 foreign investment figures published this Monday, February 27, 2023 by Business France show that 2022 was the most attractive year ever for France. The country welcomed 1,725 foreign investment projects, which resulted in 58,810 jobs being created or maintained.
While the number of job-creating investment projects identified grew by 7% compared with 2021, the rise in the number of jobs created or maintained was unprecedented, up 31% on 2021. These results strengthen the country’s attractiveness and prove that foreign investors still trust France. The exceptional increase in the number of jobs resulting from foreign investment was mainly due to the increase in the number of interim permanent contracts created by the major foreign temporary employment agencies that operate in France. Interim permanent contracts accounted for 20.5% of jobs created or maintained by foreign investment in 2022.
New openings accounted for 50% of investment projects
Decisions relating to new openings in France accounted for 50% of all investments. Meanwhile, expansions represented 46%, illustrating the renewal of confidence in France shared by foreign groups already operating on French soil. Expansion projects were the leading providers of jobs: they accounted for 66% of all jobs associated with foreign investment in France.Some 26% of investment decisions related to manufacturing activities, as were 30% of jobs announced. Decision-making centers were the second most common activity among investment projects in France, while 31% of jobs created or maintained related to business services.There was a 1% fall in the number of manufacturing projects, but a corresponding 13% increase in the number of jobs created or maintained in this sector.
23% rise in the number of R&D projects
By contrast, the year 2022 saw a 23% increase in the number of R&D projects compared with 2021 and a 53% increase in jobs created in this type of project. The number of business service projects identified in 2022 increased by 26% and the resulting jobs by 193%, mainly due to job creation by foreign temporary work agencies.
The United States, once again the leading investor in France
The United States returned to the top spot in 2022 as the leading investor country in France, with 16% of projects and 29% of jobs recorded in 2022. Germany and the United Kingdom followed, accounting for 15% and 10% of investment projects in 2022, respectively. With 10% of jobs created or maintained, the Netherlands stood out as the third leading job-creating country in France in 2022.
Investment across all sectors
France’s attractiveness extends across a large number of areas, reflecting the wealth of French expertise. The services sector was responsible for 49% of the projects identified and 56% of the jobs created or maintained in 2022.The energy and recycling (5% of projects), electrical and electronic equipment (5%) and agri-food (5%) industries were the main sectors targeted by projects. In 2022, they saw significant rises in the number of projects received, with increases of 87% in the energy and recycling sector and 17% for electrical and IT equipment.Following two years of crisis, the aerospace sector has just taken off again, with a historic 52 investment projects, equating to an 86% increase, more than doubling the number of jobs created or maintained in 2022. The healthcare sector, underpinned by medical equipment and devices, also had a good year, with 19% more projects compared with 2021 and a 7% rise in the number of jobs created or maintained.
Foreign investments across all French regions
Another strong sign of France’s attractiveness are the foreign investment projects that are serving the entire country. Municipalities with fewer than 20,000 inhabitants were the leading recipients of investment projects, accounting for 43% of projects in 2022 and 39% of jobs. Some 74% of manufacturing projects were directed towards municipalities with fewer than 20,000 inhabitants, as well as 71% of associated jobs.
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