Barometer van de Belgische attractiviteit, 2024: Belgium holds up rather well in a context of declining foreign investments in Europe

Most observers of the global economy recognize that Europe has a well-diversified industrial base, robust infrastructure, some of the world’s leading academic and research institutions and a highly educated and skilled workforce. The whole continent is making strides in building a greener and more digital economy, which is critical for long-term sustainability and competitiveness.

However, more and more data indicates that Europe must redouble its efforts to remain a global economic and industri…

Most observers of the global economy recognize that Europe has a well-diversified industrial base, robust infrastructure, some of the world’s leading academic and research institutions and a highly educated and skilled workforce. The whole continent is making strides in building a greener and more digital economy, which is critical for long-term sustainability and competitiveness.

However, more and more data indicates that Europe must redouble its efforts to remain a global economic and industrial powerhouse. This year’s EY Attractiveness Survey finds that the number of FDI projects in Europe fell in 2023, for the first time since 2020. FDI in Belgium dropped 8% compared to 2022.
Despite the challenges involved in navigating turbulent global geopolitical and economic waters, businesses remain optimistic. Three-quarters of the executives surveyed expect Europe’s attractiveness to improve in the next three years. For Belgium, 66% of executives anticipate improvements in Belgium’s investment environment over the next three years, up from 58% last year.
Because of protectionism, heightened geopolitical tension and increased competition for investment, what made Belgium and Europe attractive in the past might not work anymore. It is time for a new approach – one that responds with agility to a changing world. If Belgium and Europe are to prevail as an attractive  destination for foreign investment, businesses and governments need to cooperate and adapt. They must act urgently and decisively.