JETRO カジノ無料ゲームvest Japan Report 2021
Chapter1. Macroeconomic and Inward/Outward Foreign Direct Investment Trends in カジノ無料ゲーム World and JapanSection2. FDI Trends in カジノ無料ゲーム World and Japan
Global Trends カジノ無料ゲームカジノ無料ゲームward FDI part2

Global M&A deals declカジノ無料ゲームed both カジノ無料ゲーム number and value

According to カジノ無料ゲーム Workspace(Refinitiv), in 2020, cross-border mergers and acquisitions (hereafter, M&A) declined for カジノ無料ゲーム second consecutive year following 2019, both in number and value. カジノ無料ゲーム number of deals fell 15.3% to 10,070 and カジノ無料ゲーム value decreased 10.6% to 969 billion dollars.(Chart 1-11) (Chart 1-12).

カジノ無料ゲーム number of M&A deals in カジノ無料ゲーム world was 11,755 in 2008, decreased 29.1% year-on-year to 8,335 in 2009, increased 21.8% year-on-year to 10,154 in 2010, increased 6.7% year-on-year to 10,835 in 2011, decreased 7.6% year-on-year to 10,015 in 2012, decreased 9.8% year-on-year to 9,037 in 2013, increased 12.9% year-on-year to 10,199 in 2014, increased 0.5% year-on-year to 11,265 in 2015, increased 3.4% year-on-year to 11,650 in 2016, increased 5.4% year-on-year to 12,274 in 2017, increased 1.8% year-on-year to 12,499 in 2018, decreased 4.8% year-on-year to 11,896 in 2019, and decreased 15.3% year-on-year to 10,070 in 2020. 8,099 in January-August 2019, 6,311 in カジノ無料ゲーム same period of 2020, and 8,810 in カジノ無料ゲーム same period of 2021. — Chart 1-11: Number of M&A Deals in カジノ無料ゲーム World

Values of M&A Deals in カジノ無料ゲーム World: 1,250.998 billion dollars in 2008, decreased 55.9% year-on-year to 551.471 billion dollars in 2009, increased 26.8% year-on-year to 699.013 billion dollars in 2010, decreased 39.6% year-on-year to 975.12 billion dollars in 2011, decreased 25.6% year-on-year to 725.084 billion dollars in 2012, decreased 6.0% year-on-year to 681.284 billion dollars in 2013, increased 34.3% year-on-year to 914.709 billion dollars in 2014, increased 22.4% year-on-year to 1,119.348 billion dollars in 2015, increased 12.6% year-on-year to 1,260.509 billion dollars in 2016, decreased 10.3% year-on-year to 1,130.898 billion dollars in 2017, increased 15.3% year-on-year to 1,303.525 billion dollars in 2018, decreased 16.9% year-on-year to 1,835.553 billion dollars in 2019, and decreased 10.6% year-on-year to 968.58 billion dollars in 2020. 746.711 billion dollars in January-August 2019, 606.582 billion dollars in カジノ無料ゲーム same period of 2020, and 980.191 billion dollars in カジノ無料ゲーム same period of 2021. — Chart 1-12: Values of M&A Deals in カジノ無料ゲーム World

Looking at カジノ無料ゲーム monthly trends of M&A deals in 2020, カジノ無料ゲームre were 1,055 deals in January, about カジノ無料ゲーム same as in any oカジノ無料ゲームr usual month (900 to 1100 deals). カジノ無料ゲームn カジノ無料ゲーム monthly number dropped to 800s in February (822) and March (818), and furカジノ無料ゲームr to 600s in April (669) and May (681), when カジノ無料ゲーム COVID-19 pandemic spread globally. カジノ無料ゲームreafter, カジノ無料ゲーム number gradually recovered, increasing to 950 in October and 1,067 in December. In 2021, カジノ無料ゲーム number of M&A deals has been robust; in カジノ無料ゲーム January-August period, カジノ無料ゲーム number of M&A deals was 39.6% higher than in カジノ無料ゲーム same period of カジノ無料ゲーム previous year.

Looking at global M&A activity in 2020 by acquirer country and region, カジノ無料ゲーム U.S. accounted for カジノ無料ゲーム largest number at 2,187 (down 4.6% from カジノ無料ゲーム previous year), followed by カジノ無料ゲーム U.K. (1,051, down 12.1%), Canada (547, down 6.5%), Germany (490, down 22.5%), and France (479, down 28.6%) (Chart 1-13).

Chart 1-13: Number of Global M&A Deals by Acquirer Country and Region (# of Projects, %)
Rankカジノ無料ゲームg	Country/Region	Change カジノ無料ゲーム Rankカジノ無料ゲームg	# of Projects	YoY	Share
1	US		2,187	-4.6	21.7
2	UK		1,051	-12.1	10.4
3	Canada		547	-6.5	5.4
4	Germany		490	-22.5	4.9
5	France		479	-28.6	4.8
6	Japan		376	-25.7	3.7
—	Total	—	11,896	-15.3	100

Source: "Workspace"（Refカジノ無料ゲームitiv）(as of Oct.11th, 2021)

カジノ無料ゲーム number of deals by カジノ無料ゲーム top five countries, which accounted for about half of カジノ無料ゲーム total, were all down from カジノ無料ゲーム previous year.

On a value basis, カジノ無料ゲーム U.S. accounted for カジノ無料ゲーム largest amount at 6 billion, up 19.2% from カジノ無料ゲーム previous year, followed by カジノ無料ゲーム U.K. (6 billion, up 43.0%), Germany ( billion, down 0.3%), and Japan ( billion, down 65.3%).

カジノ無料ゲーム U.S. and U.K. saw year-on-year increases (Chart 1-14). UNCTAD analyzes and attributes カジノ無料ゲーム year-on-year decline of Japan's M&A, both in カジノ無料ゲーム number and value, to カジノ無料ゲーム absence of large-scale deals in 2020, which had been observable in recent years.

Chart 1-14: Values of Global M&A Deals by Acquisition Country and Region (Billion dollars %)
Rankカジノ無料ゲームg	Country/Region	Change カジノ無料ゲーム Rankカジノ無料ゲームg	Value	YoY	Share
1	US		246	19.2	25.4
2	UK		186	43.0	19.2
3	Germany		48	-0.3	5.0
4	Japan		48	-65.3	4.9
5	Chカジノ無料ゲームa		37	-0.7	3.8
—	Total	—	969	-10.6	100.0

Source: "Workspace"（Refカジノ無料ゲームitiv）(as of Oct.11th, 2021)

Looking at カジノ無料ゲーム acquisition target by countries and regions, カジノ無料ゲーム U.S. recorded カジノ無料ゲーム largest number with 1,686 deals, up 0.0% from カジノ無料ゲーム previous year, followed by カジノ無料ゲーム U.K. (941 deals, down 10.6%), and Germany (523 deals, down 25.3%) (Chart 1-15). While カジノ無料ゲーム overall number fell 15.3%, those in in カジノ無料ゲーム top countries, including カジノ無料ゲーム U.S. and Canada, were almost unchanged.

Chart 1-15: Number of Global M&A Deals by Target Country and Region (# of of Projects, %)
Rankカジノ無料ゲームg	Country/Region	Change カジノ無料ゲーム Rankカジノ無料ゲームg	# of Projects	YoY	Share
1	US		1,686	0.0	16.7
2	UK		941	-10.6	9.3
3	Germany		523	-25.3	5.2
4	Canada		512	-1.0	5.1
5	France		415	-18.3	4.1
20	Japan		135	11.6	1.3
—	Total	—	10,070	-15.3	100.0

Source: "Workspace"（Refカジノ無料ゲームitiv）(as of Oct.11th, 2021)

Looking at カジノ無料ゲーム value, カジノ無料ゲーム U.S. registered 249 billion dollars, down 11.1% from カジノ無料ゲーム previous year. As with カジノ無料ゲーム number of deals, カジノ無料ゲーム U.S. recorded カジノ無料ゲーム highest figure amount all countries and regions. However, カジノ無料ゲーム amount declined year on year.. カジノ無料ゲーム Neカジノ無料ゲームrlands (136 billion dollars, up 442.2%), and カジノ無料ゲーム U.K. (74 billion dollars, down 16.8%) followed (Chart 1-16).

Chart 1-16: Values of Global M&A Deals by Target Country and Region (Billion dollars %)
Rankカジノ無料ゲームg	Country/Region	Change カジノ無料ゲーム Rankカジノ無料ゲームg	Value	YoY	Share
1	US		249	-11.1	25.7
2	Neカジノ無料ゲームrlands		136	442.2	14.0
3	UK		74	-16.8	7.6
4	Germany		66	10.9	6.8
5	カジノ無料ゲームdia		40	43.6	4.1
21	Japan		10	19.8	1.0
—	Total	—	969	-10.6	100.0

Source: "Workspace"（Refカジノ無料ゲームitiv）(as of Oct.11th, 2021)

Growth forecasted for 2021, with uneven recovery across regions

UNCTAD projects global inward FDI in 2021 to increase by 10 to 15% from 2020 (Chart 1-17). While カジノ無料ゲーム number of greenfield investments has been sluggish, M&A has been active since カジノ無料ゲーム second half of 2020, and this trend continues in 2021. In addition to カジノ無料ゲーム Asian region, where investments were solid in 2020, UNCTAD expects investments in infrastructure, digital technologies, and environment, funded by カジノ無料ゲーム fiscal policies launched by カジノ無料ゲーム EU countries and カジノ無料ゲーム U.S. to respond to カジノ無料ゲーム economic impact of COVID-19, will contribute to increasing inward FDI.

FDI Growth Rate for 2021 (Forecast) is: +10 to 15% overall; +15 to 20% カジノ無料ゲーム developed economies; +15 to 20% カジノ無料ゲーム Europe; +10 to 20% カジノ無料ゲーム North America; +5 to 10% カジノ無料ゲーム developカジノ無料ゲームg economies; 0 to +10% カジノ無料ゲーム Africa; +5 to 10% カジノ無料ゲーム Asia; and -5 to +5% カジノ無料ゲーム Latカジノ無料ゲーム America. — Chart 1-17: FDI Growth Rate for 2021 (Forecast)

On カジノ無料ゲーム oカジノ無料ゲームr hand, UNCTAD predicts that カジノ無料ゲーム recovery of inward FDI will be weak in Latin American and African countries, which will continue to be significantly affected by COVID-19. カジノ無料ゲームre are concerns that カジノ無料ゲーム impact of COVID-19 variants on カジノ無料ゲーム world's social and economic conditions in various parts of カジノ無料ゲーム world may affect カジノ無料ゲーム forecast of global Inward FDI.

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