Renewable energy leads global FDI in 2024

Diana Estefanía Rubio

Renewable energy leads global FDI in 2024

In a year marked by economic realignment and strategic restraint, global investors in 2024 made it clear: the future lies in clean technology, connectivity, and semiconductors, commonly referred to as chips.

Foreign direct investment (FDI) has pivoted toward a handful of high-impact sectors, reflecting a world that is betting on digital acceleration and decarbonisation. According to The fDi Report 2025, renewable energy once again topped the charts, drawing $270.1bn—its sixth consecutive year as the prime FDI magnet, even as mega-project momentum cooled.

The communications infrastructure witnessed an investment surge, with FDI surging 83.6% year-over-year to $165.7b,n triggering a global race to expand data centres and cloud hosting capacity.

Meanwhile, the semiconductor industry saw a blockbuster year. Capital inflows hit $120.3bn—its second-best showing ever—propelled by bold global moves from leading Asian chipmakers.

More traditional sectors held their ground. Real estate ($92.2bn) and fossil fuels ($89.1bn) remained attractive despite the green energy wave, underscoring the persistence of legacy asset appeal.

Interestingly, Software & IT ranked first by number of projects (2,790), yet attracted a comparatively modest investment of $47.5bn, signalling a decoupling between digital ambition and financial heft.

Rounding out the top ten, automotive original equipment manufacturers (OEMs) generated $38.7bn as electrification and mobility innovation continued to reshape the industrial landscape.

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