Flanders reached an unprecedented milestone in 2024 by attracting €5.4 billion in foreign investments, resulting in the creation of over 5,000 new jobs across the region.
The figures, unveiled by Flemish Minister-President Matthias Diependaele, underscore the region’s resilience and continued global appeal, particularly in the realm of innovation.
Diependaele credited Flanders’ strategic location, highly skilled workforce, and commitment to innovation as key drivers of its investment success. Over the course of the year, the region welcomed 277 new projects, marking a 5% increase from 2023. Investment volumes and job creation also saw growth of approximately 10%, highlighting Flanders' expanding economic potential.
R&D takes the lead
For the first time, research and development (R&D) emerged as the top investment category. Major sectors attracting foreign capital included IT and telecom—with a particular emphasis on semiconductors—as well as cleantech and chemicals. These sectors reflect Flanders’ dedication to cutting-edge technologies and sustainable solutions.
U.S. investors lead the way
The United States reclaimed its position as Flanders’ largest source of foreign investment following a dip in 2023. Significant projects included the construction of a plastic recycling facility in Ghent by Freepoint Eco-Systems and the opening of SpectronRx’s European radiolabelling facility for cancer treatments in Mol.
European investors continued to play a pivotal role, accounting for more than 60% of total projects. However, investments from Asia experienced a marked decline, with significant drops observed in contributions from Japan and China.
Navigating challenges
Despite these achievements, Diependaele acknowledged the economic challenges that could impact future growth. He emphasized the importance of maintaining favorable policies to sustain momentum and enhance long-term competitiveness.
To solidify Flanders’ global standing, the Minister-President is set to participate in the World Economic Forum in Davos. There, he will spotlight the region’s strengths and engage with key international investors to further bolster Flanders’ economic prospects.