This book assesses the impact of social media in investment promotion industry and how investment promotion agencies (IPAs) can utilize it in their pursuit to attract larger share of quality Foreign Direct Investment. It ponders on whether social media will be merely an integral or hybrid element of the current investment promotion paradigm or will it revolutionize how IPAs operate and inadvertently cause a shift to a new paradigm (IP 5.0)! There is chronological background on investment promotion, role of the internet and websites, social media, the rise of the Facebook economy, relevant theories, and showing the best practices of social media in investment promotion. The findings are based on current state analysis of social media utilization in a sample of IPAs, outcome of a survey questionnaire with feedback from renowned experts, and a discussion on the topic in LinkedIn. This book provides an easy to read material despite the intricate and fast changing nature of the subject matter. It can be of particular interest to inform policy makers on best practices, as well as provide general guidelines for IPAs for starting a social media based promotion strategy.