Berlin (ots) – American business executives ranked Germany the top business location in Europe for the third year in a row. For 2011, 87 percent of top American companies in Germany expect revenue growth and over half plan to hire new workers. Germany’s rapid rebound from the global economic crisis was named as a key to business success. These are the results of this year’s AmCham Business Barometer released today by AmCham Germany and the Boston Consulting Group.
“We are honored that American executives continue to praise Germany. American companies have a long tradition here and their ability to succeed confirms Germany’s attractiveness as the top business location in Europe,” states Dr. Jürgen Friedrich, Chief Executive of Germany Trade & Invest.
For the first time, this year’s study also measures Germany’s standing on a global scale. Germany ranked second worldwide behind China as the most important investment location. However Germany was named in the top 3 more than any other country. Cited by over 60 percent of executives, Germany fares considerably better than other Western European countries and slightly ahead of Eastern Europe.
Most companies were pleasantly surprised with their performance in Germany in 2010. While an impressive 76 percent expected to increase revenue in 2010, this mark was surpassed. 82 percent saw their revenue streams grow.
When asked about future activities in Germany, more than one third plan to increase research and development. The country’s highly qualified workforce and excellent R&D framework were cited as distinct advantages. At the same time, one fifth of companies seek to increase production in Germany. Here executives confirm the quality of German products and productivity of German manufacturing plants.
While total investments are expected to remain constant in 2011, over half of the companies surveyed plan to employ more workers, a jump of 15 percent compared to last year. This figure could be even higher, but survey participants gave a first indication that a shortage of skilled labor could play a role in 2011. On the other hand, they credit the increased productivity of German workers in recent years and praised the government’s short-time work program during the crisis.
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 in the German market. It provides information on foreign trade to German companies that seek to enter foreign markets.
Germany Trade & Invest
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