New York Is No Longer The Top Destination In The Americas For Foreign Investment

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Photo: Tim Pearce, Los Gatos via Flickr

SAO PAULO (AP) — A just-released report shows that Sao Paulo now beats out New York as top destination for foreign investments in the Americas.The report was prepared by American consulting firm KPMG and France’s Greater Paris Investment Agency.

It says that Sao Paulo ranks fourth among cities in attracting foreign investment.

The annual study released Wednesday shows that Sao Paulo attracted 160 per cent more investments last year than it did in 2009 — and almost 55 per cent more than in 2010.

However, the report doesn’t release total monetary value of the investments.

Calls to KPMG and the French firm for comment were not returned.

London was the top destination for foreign investment. Shanghai and Hong Kong followed. New York was in fifth place.

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