Canada Overtakes U.S. as Top Infrastructure Investment Market — But America Still Leads Overall FDI Ranking

September 23, 2026 — Canada has moved ahead of the United States in a major survey of infrastructure investors, fueled by large projects, abundant resources and new incentives, although America remains the world’s leading overall foreign-investment destination.

Canada has moved ahead of the United States in one closely watched measure of infrastructure-investor sentiment, but broader international rankings still place America first for overall foreign direct investment attractiveness.

The Global Infrastructure Investor Association said in May that Canada became the most attractive market for infrastructure investment in its latest survey, overtaking both Germany and the United States.

GIIA’s poll reflects the views of major infrastructure investors whose members collectively manage nearly C$3 trillion in infrastructure assets, making the result an important sector-specific indicator rather than a universal ranking.

Canada’s rise followed new government announcements on major projects and investment policy, while GIIA said the United States slipped to third amid concerns over domestic uncertainty and political gridlock.

That result does not mean Canada has replaced the United States as the world’s overall top investment destination, because different surveys measure different types of capital, industries and investor expectations.

Kearney’s 2026 Foreign Direct Investment Confidence Index still ranked the United States first for the 14th consecutive year, while Canada remained second for the fourth year running.

Kearney found investor optimism toward the United States had weakened from a year earlier, while Canada narrowed the gap because of natural resources, stable economic fundamentals and expanding technology capabilities.

Canada’s investment campaign received another boost this month when Prime Minister Mark Carney hosted the inaugural Canada Investment Summit in Toronto, bringing together investors and executives from nearly 30 countries.

The Canadian government said summit participants represented institutions managing more than C$100 trillion in assets, underscoring Ottawa’s effort to attract long-term capital into energy, transportation, technology and industrial projects.

Ottawa announced nearly C$500 billion in investment commitments connected with the summit, although reporting noted many commitments came from domestic institutions and must still translate into completed projects.

Carney’s government has established a broader objective of catalyzing C$1 trillion in investment over five years through tax incentives, infrastructure development, faster approvals and efforts to deepen international commercial links.

Official figures already show significant foreign capital inflows: Statistics Canada reported C$96.8 billion in foreign direct investment entering Canada during 2025, the highest annual level recorded since 2007.

By the end of 2025, Canada’s stock of inward foreign direct investment had increased 6.9% to C$1.6005 trillion, with manufacturing, mining, oil and gas contributing strongly to growth.

The United States remains deeply important to that success. American investors held C$737.3 billion in Canadian direct-investment assets at the end of 2025, representing 46.1% of total inward investment.

Canada’s broader appeal includes energy resources, critical minerals, an educated workforce, banking stability and trade agreements providing preferential market access to approximately 1.5 billion consumers around the world.

Ottawa is also promoting investment incentives such as the Productivity Super-Deduction while advancing projects involving electricity, ports, mines, critical minerals, digital infrastructure and transportation corridors across multiple provinces.

However, attracting announced capital is only part of the challenge. Analysts continue highlighting regulatory complexity, interprovincial barriers, productivity weaknesses and uncertainty over whether proposed investments will ultimately become operating projects.

Canada also remains highly integrated with its southern neighbor: Statistics Canada reported that 71.7% of Canadian merchandise exports went to the United States in 2025, down from 75.9% in 2024.

That dependence helps explain Ottawa’s simultaneous effort to expand ties with Europe and other markets while preserving U.S. access, rather than attempting to replace the American economic relationship entirely.

The clearest conclusion is narrower than the viral headline: Canada currently leads an important infrastructure-investor survey, while the United States still ranks first in Kearney’s broader 2026 global FDI confidence index.

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