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timesofindia.indiatimes.com/business/international-business/India-China-US-lead-job-creation-in-Europe-Ernst-Young/articleshow/14304984.cms
MUMBAI: As Europe fights recession for the third year without much success so far, almost all jobs there were created by US, Indian and Chinese investors in 2011, an Ernst & Young survey said.
While US companies led the race by creating as much as 26 per cent of new jobs, India and China created the rest, accoubting for nearly 9,000 new jobs, which is 95 per cent of BRIC nations' contribution during the period, E&Y's 10th Annual European Attractiveness Survey said.
"The number of jobs created by BRIC investors in Europe rose 8 per cent in 2011, with India and China together accounting as the largest players for 95 percent of job creation and 82 per cent of projects in the EU," it said.
This is in sharp contrast to most European companies which have been issuing pink-slips to their employees.
After a sharp fall in 2010, the number of jobs created by BRIC investors in Europe rose to 9,385, it said, adding that collectively, BRIC economies accounted for 6 percent of the total job creation in Europe, behind the US and Germany.
Indian companies targeted business services and software, while their Chinese peers focused on the clean technology sector, especially solar power, the survey said.
This survey combines an analysis of global investment in Europe over the last year, with a survey of over 800 global executives on their views about how and where global investment will take place in the next decade.
However, the US continued to be the largest investor in Europe, providing 1,028 projects, which is 26 per cent of the total.
Across Europe there was an overall 2 per cent increase in projects to 3,906 in 2011, compared to 3,757 in 2010. The average project was markedly larger and FDI job creation was up 15 per cent, the report said.
MUMBAI: As Europe fights recession for the third year without much success so far, almost all jobs there were created by US, Indian and Chinese investors in 2011, an Ernst & Young survey said.
While US companies led the race by creating as much as 26 per cent of new jobs, India and China created the rest, accoubting for nearly 9,000 new jobs, which is 95 per cent of BRIC nations' contribution during the period, E&Y's 10th Annual European Attractiveness Survey said.
"The number of jobs created by BRIC investors in Europe rose 8 per cent in 2011, with India and China together accounting as the largest players for 95 percent of job creation and 82 per cent of projects in the EU," it said.
This is in sharp contrast to most European companies which have been issuing pink-slips to their employees.
After a sharp fall in 2010, the number of jobs created by BRIC investors in Europe rose to 9,385, it said, adding that collectively, BRIC economies accounted for 6 percent of the total job creation in Europe, behind the US and Germany.
Indian companies targeted business services and software, while their Chinese peers focused on the clean technology sector, especially solar power, the survey said.
This survey combines an analysis of global investment in Europe over the last year, with a survey of over 800 global executives on their views about how and where global investment will take place in the next decade.
However, the US continued to be the largest investor in Europe, providing 1,028 projects, which is 26 per cent of the total.
Across Europe there was an overall 2 per cent increase in projects to 3,906 in 2011, compared to 3,757 in 2010. The average project was markedly larger and FDI job creation was up 15 per cent, the report said.
