With occasional and rare exceptions, recent years have witnessed defections by Asian and Australasian investors from the wider European marketplace in favour of apparently richer pickings in Asia itself, where industry growth has been more stable. Macquarie Airports is perhaps the best example, retrenching back to its Australian base and even renaming itself Sydney Airport, as if to emphasise the point. But recently those investors, especially Australasian funds, are moving back into a Europe that remains encumbered by stagnant economic growth throughout much of the euro zone and the UK, crippling taxes, stiff regulation and, in the UK, policy making that is in suspended animation.
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