Australia is looking at a potentially record-breaking year for inward FDI with 200 cases of greenfield investment projects into the country in the first seven months of 2014, according to greenfield investment monitor fDi Markets. This represents 69.69% of that tracked during the whole of 2013 and, when retail projects are excluded, places Australia seventh in the world for FDI attraction.

Australia has received 3.1% of world FDI so far in 2014, a new high. If this trend continues, the country looks set to receive more FDI than in any previous year.

The primary source of investment in Australia so far during 2014 has been from US companies, which accounted for 40% of tracked FDI. The UK is currently second, with 35 projects tracked, followed by Germany and Japan, responsible for 10 and nine projects, respectively. Source countries were similar in 2013, with US in first place followed by the UK and then Germany. In 2013, a total of 287 FDI projects into Australia were tracked.

FDI from neighbour New Zealand, which placed fourth in 2013, has suffered a significant decline in 2014 with just four projects so far recorded.

In 2014, software and IT services is by far the most attractive sector for investment into Australia, accounting for one third of the country’s FDI, a trend continuing from 2013 when the sector was also responsible for 33% of FDI.