Preliminary data show higher global investment values alongside declining new project announcements. Large transactions, megaprojects and financial flows can sustain headline values even as activity weakens. 

Unless stated otherwise, project growth rates compare annualised estimates based on the first six to nine months of 2026 with 2025. Digital infrastructure investment may be becoming more concentrated in high-income economies, while the Middle East conflict adds cost and uncertainty pressures. 

Large transactions sustain values as activity weakens 

Foreign direct investment flows to developed economies rose by more than 70% in the first half of 2026 against the average half-year level in 2025. This was driven almost entirely by fluctuations in financial flows channelled through Benelux countries and a near-doubling of inflows to the United States. 

In the first nine months of 2026, merger and acquisition values rose 40% in developed economies and more than fivefold to $70-billion in developing economies. AI-related sectors accounted for more than 40% of announced greenfield investment value in the United States. One example was Taiwan Semiconductor Manufacturing Company’s announced $76.5-billion expansion there. 

Report by the United Nations Conference on Trade & Development