According to data from fDiMarkets, the number of FDI projects recorded globally in the software and IT sector between January and October 2011 has increased by 27% on the total figure for 2010.
In the first 10 months of 2011, North America was the top destination for investments in the software and IT sector, recording 45% more projects than it did in 2010. North America, western Europe and Asia-Pacific together accounted for 82% of all FDI projects recorded in the software and IT sector in this period. The 'Rest of Europe' region was the only region to witness a year-on-year decline in software & IT projects, with a 7% decrease from its 2010 total.
The US remained the top destination country for software and IT projects, accounting for almost one-third of the projects recorded globally during the period January to October 2011. In this period, the UK, the second most popular destination country, experienced a 63% increase in the number of projects it received in the sector when compared to 2010.
London was the top city for FDI projects in this period, a position it has held since 2005. It has recorded more than 100 projects in the software and IT sector so far in 2011, the first time a city has recorded a three-figure annual total.