FDI into Australia has gradually increased over 2013, despite experiencing a sharp drop in December 2012. Greenfield investment monitor fDi Markets recorded 15 projects in December 2012 compared with 24 projects in March 2013.
Throughout the first quarter of 2013, Sydney remained the top destination city for investment, with project numbers increasing from three to eight and capital expenditure rising from $27.2m in December to $249.6m in March. The number of jobs created by foreign investors in Sydney increased from 45 to 537.
The US remained the top investing country in both December and March, with project numbers doubling in that period. Despite this increase, jobs created by US foreign investment decreased from a figure of 812 to 504 and capital expenditure also fell 73% from $1.16bn to $315.6m.