International investment rose in the first half of 2026 but the number of new projects continued to fall, pointing to an uncertain outlook amid geopolitical tensions, energy-price pressures and supply chain disruptions.
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The latest Global Investment Trends Monitor shows that foreign direct investment (FDI) increased by 37% compared with the average half-year level in 2025, largely driven by developed economies.
Yet higher deal values mask weaker activity, with fewer new projects and cross-border transactions announced worldwide.
The findings come ahead of the World Investment Forum 2026, set to take place in Doha, Qatar, from 25 to 27 October.
Under the theme “Investing in the future”, more than 5,000 participants from governments, businesses, international organizations and other sectors will explore new frontiers in investment for development.
Large deals mask weaker overall activity
The value of cross-border mergers and acquisitions rose by 57% to $494 billion in the first nine months of 2026. However, the number of deals fell by 23%, indicating that the increase was driven by large transactions rather than a broad-based recovery.
Across major investment categories, activity weakened. Announcements of new projects, known as greenfield investments, fell by 15%, while international project finance deals declined by 11%.
FDI flows to developed economies rose by more than 70% in the first half of the year compared with the average half-year level in 2025. The increase largely reflected fluctuations in financial flows through Benelux countries – Belgium, the Kingdom of the Netherlands and Luxembourg – and a near-doubling of inflows to the United States.
Artificial intelligence-related sectors accounted for more than 40% of announced greenfield investment value in the United States, underscoring the growing importance of strategic technology investments.
Developing economies face mounting pressures
FDI flows to developing economies increased by 8% compared with the average half-year level in 2025. Despite the rise, greenfield project announcements fell by more than one fifth.
The number of investment projects supporting the Sustainable Development Goals declined by more than 25% in developing countries. Renewable energy project finance activity fell by about a third, compared with a 4% decline in developed economies.
The value of announced greenfield investment in data centres in developing economies fell by $32 billion, suggesting a further concentration of digital infrastructure investment in high-income economies.
Conflict adds to uncertainty
The ongoing conflict in the Middle East is adding to cost pressures and uncertainty.
Greenfield project announcements in West Asia fell by 52%, while tourism projects worldwide declined by 28% and transportation and storage projects by 22% in the first half of 2026 compared with the same period in 2025.
Gulf Cooperation Council investors’ outward project finance investment more than halved in the second quarter compared with both a year earlier and the average for the previous five years.
Domestic investment, by contrast, more than tripled year on year, though most of the increase came from a nearly $55 billion urban district project announced by Dubai-based developer Emaar.