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AmCham Business Barometer 2010: Germany Confirms Top Position - American Companies Optimistic For Future Developments
Berlin (ots) - Germany confirms its position for the second time in a row as the top business location for American companies in Europe. The VII. Business Barometer published today by the American Chamber of Commerce (AmCham Germany) even declares Germany a winner over the effects of the crisis. According to the study, Germany further expanded its advantage over both Western and Eastern Europe. More than half of those surveyed assume that the effects of the crisis will further decrease.
AmCham Germany publishes the annual Business Barometer together with the Boston Consulting Group. The renowned survey presents the assessments of 102 US companies active in Germany. Especially remarkable is the considerable improvement over the previous year: In 2009 ten percent of those surveyed indicated that Germany had become a more attractive business location, while this figure jumped to 23 percent this year. The result is striking, considering that several US companies experienced considerable revenue losses in 2009, also in Germany. However they look optimistically to the future and expect a resurgence of revenues and investments. 80 percent of those surveyed even named Germany as their future focal point for investments in Europe. Germany is distantly followed by Eastern European EU member states (38 percent, non-EU member states: 32 percent), Great Britain (32 percent), France (28 percent) and Italy (11 percent).
Those surveyed also indicated an intention to increase their research and development activities (plus 29 percent). Interview partners especially praised the "world-class performance" of German R&D divisions as well as cooperation with German universities and research centers. The high quality provided by Germany's research landscape has already prompted several US companies to establish their research centers here - some with global reach.
Dr. Jürgen Friedrich, Chief Executive of Germany Trade & Invest: "The results of the AmCham Business Barometer are decisive. Especially US companies - many of them active in Germany for years - have an excellent command of international markets. For this reason, their assessments carry significant clout. Germany's reselection as the best business location in Europe is a distinction that recognizes and honors its improved investment conditions."
Those surveyed indicated that stable domestic demand in Germany compared to other markets contributed to the positive results. Consumption declined less here than in other countries. Other reasons included Germany's large, well developed market. Germany plays a globally important role as a market for US companies, especially due to its low level of volatility.
Productivity as well as the security and quality of individual production processes positively influenced the survey results on Germany as a business location. These quality traits point to the highly qualified workforce on one hand and the qualities often associated with Germany, such as reliability, precision and diligence on the other.
Germany also received positive marks in terms of job market deregulation. Federal government measures to promote short-time work are seen as an especially effective tool, as they have allowed companies to react flexibly to economic fluctuation. Qualified employees have been able to be retained in a difficult economic environment while companies have also benefitted from a simultaneous short-term decrease in labor costs.
The federal economic stimulus measures are also rated positively. Companies credited their effectiveness to their focus on boosting the future strength of the economy, rather than an across-the-board implementation. At 56 percent, the majority of companies surveyed believe that Germany has been considerably less affected by the crisis than other countries in Europe. Along with the reasons cited, this is attributed to the German economy's broad industrial basis, industry mix and the continued high level of industrial production. According to those surveyed, these factors provide a considerable advantage, especially over countries that are heavily dependent on services.
More information on the VII. AmCham Business Barometer is available at: http://www.amcham.de/publications/business-barometer.html
Germany Trade & Invest is the foreign trade and inward investment promotion agency of the Federal Republic of Germany. The organization advises foreign companies looking to expand their business activities to the German market. It provides information on foreign trade to German companies that seek to enter foreign markets.
Germany Trade & Invest