After experiencing a decline in project numbers in the final quarter of 2012, global FDI in the software and IT services sector recorded an increase in project numbers in January 2013. Greenfield investment monitor fDi Markets recorded 104 projects in the sector in the first month of the year, with $1.1bn of capital expenditure and a total of 4331 jobs created. The number of companies investing also increased to 91 companies.
The US remained the top source country for FDI in software and IT services, recording 44 such projects in January 2013, accounting for 42% of global outflows. Western Europe remained the leading destination region recording 19 projects in the month. London was the top destination city, with 12 projects and $68.9m capital expenditure in the month.
The leading global business activities in the software and IT services sector in January were sales, marketing and support – with 66 projects – and design, development and testing – with 15 projects. One of the biggest announcements of the month came from US-based Amazon, which revealed plans to create a further 100 jobs at its new digital media development centre in London.