The data shows that last year Luxembourg attracted approximately $106 billion in foreign direct investment, significantly surpassing the figures for France ($33.7 billion), Spain ($30.5 billion), and Italy ($24.7 billion). These differences are largely explained by Luxembourg’s unique role in the global financial architecture.
International experts note that the country functions as a major financial hub where numerous multinational companies direct their investments to take advantage of favorable tax and legal structures. This intermediary role artificially inflates the volume of reported investments, placing Luxembourg in first place in Europe.
In the same ranking, the Republic of Moldova ranks 36th out of 41 countries analyzed, with foreign direct investment of approximately $340 million in 2024. This level is significantly lower compared to countries in the region, such as Montenegro, Estonia, Bosnia and Herzegovina, or North Macedonia.
Romania recorded a capital inflow of $6.2 billion, ranking 16th, while Ukraine attracted $3.3 billion and the Russian Federation—about $3.35 billion.
The report also highlights unusual situations in developed economies. In 2025, a number of major financial centers, such as the United Kingdom, Ireland, Belgium, and Switzerland, recorded negative investment inflows amid capital outflows and asset sales by foreign companies. In the UK, the net outflow reached approximately $40 billion.
Another surprise was Germany, Europe’s largest economy, which attracted only $5.7 billion in foreign direct investment in 2024, trailing countries such as Poland, Portugal, and Sweden.
