Cities in Asia have captured the leading positions as destinations for greenfield investment in the life sciences sector, with Shanghai and Singapore fighting it out for supremacy.
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According to data from fDi Markets, a crossborder investment monitor, Singapore ranks first for volume of life sciences capital investment and number of projects since 2012, with Shanghai second. Meanwhile, Shanghai tops the list for number of jobs created through inbound life sciences investments from overseas, just ahead of Singapore.
China’s Suzhou is in third place for capital investment and fifth for job creation, while Beijing is fourth for job creation, sixth for project numbers and ninth for capital investment. Other Asian cities to rank within the top 25 global destinations include Bangalore, Hangzhou, Hyderabad, Hong Kong, Mumbai, Seoul, Tianjin and Tokyo.
Top destinations in Europe and the Americas – the two other world regions with strong life sciences activity – are London and Dublin in Europe; and Boston and Cambridge (Massachusetts), Clayton (North Carolina) and San Francisco in the US. Tijuana, Mexico leads in the region for job creation.
To compile the list of locations for this study, fDi Intelligence, a data division of the Financial Times, looked at the greenfield FDI data between January 2012 and December 2016 for the life sciences sector. Locations were ranked on their record of investment considering project numbers, capital investment and job creation. Retail was excluded in this study.