The American Chamber of Commerce in Germany’s annual survey of the highest 50 US firms in Europe’s largest financial system finds trans-Atlantic enterprise again on observe after pandemic disruptions. However different challenges stay.
BERLIN, Nov. 3, 2022 /PRNewswire/ — (GTAI) – “A powerful restoration after the tough Corona yr 2020” – that is the central conclusion of the AmCham Germany’s have a look at US firms in Germany in 2021.
Turnover grew 12.3 p.c final yr, the examine discovered. That represented an entire restoration from 2020, when revenues declined by 0.4 p.c. By comparability, German firms within the US did 14.9 p.c extra enterprise after a 1.4 p.c drop in 2020.
US financial institution J.P. Morgan, as an illustration, noticed revenues in Germany improve by 322.6 p.c, partly because of the results of the United Kingdom’s departure from the European Union.
“The 2021 AmCham figures underscore the basic solidity of US-German enterprise,” says Robert Hermann, CEO of Germany Commerce & Make investments, the German company for worldwide enterprise promotion. “That is why ranges of overseas direct funding have been rising persistently lately.”
American FDI in Germany shot up 16.5 p.c final yr, AmCham Germany discovered, in contrast with 9 p.c in 2020 and -0.3 p.c in 2019. US chipmaker Intel introduced it was placing EUR 17 billion right into a manufacturing facility in Magdeburg, however on-line retailer Amazon additionally invested an extra one billion in its German operations.
“Worldwide firms know that they want a powerful presence inside the EU, and as its largest member state and geographic coronary heart, Germany is a really enticing vacation spot,” says Hermann.
65 p.c of the highest US firms in Germany mentioned they anticipated revenues to extend in 2022. Main the restoration and persevering with to develop within the first half of this yr have been the uncooked supplies, power and chemical compounds, prescription drugs and knowledge expertise sectors.
However the survey additionally uncovered areas wherein German might enhance as a enterprise location. AmCham recognized a necessity for higher cloud and quantum computing in addition to higher digitalization basically.
It additionally highlighted a pattern towards new enterprise relationships among the many firms, with 63 p.c saying that they aimed to diversify their very own eco-system and strengthen resilience.
“Basically companies in Germany are rethinking their fashions, and that opens the door for brand spanking new firms to seek out niches,” says Hermann. “Worldwide companies can profit from analyzing the wants of the German financial system and establishing subsidiaries within the nation.”
Learn the complete AmCham examine right here: https://www.amcham.de/news-details/ranking-top-50-us-companies-with-the-highest-revenue-in-germany
Germany Commerce & Make investments (GTAI) is the financial promotion company of the Federal Republic of Germany. GTAI helps German firms establishing in overseas markets, promotes Germany as a enterprise location and assists overseas firms establishing store in Germany.
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