Germany Catches European Competition in FDI Race

Ernst & Young's 2011 European Attractiveness Survey

BERLIN, May 26, 2011 /CNW/ - Germany's attractive investment conditions are paying dividends. The number of foreign direct investment projects has tripled in five years, catching competitor France and increasing Germany's market share from 6 to 15 percent of all European investments. Investors praise Germany's outstanding growth potential, disciplined fiscal policy and business culture. These are the results of Ernst & Young's 2011 European Attractiveness Survey published today.

"Germany has an excellent framework for businesses to prosper: highly qualified workers, an outstanding R&D infrastructure and a secure business environment. Ernst & Young's latest study confirms that now is the right time for investors to look to Germany," said Michael Pfeiffer, Chief Executive of Germany Trade & Invest in Berlin.

Investors named four key focal areas to ensure future competitiveness: IT and cleantech, tax-centric competitiveness, city projects, and talent. Germany is strong in each of these areas. The country has the world's most extensive renewable energies industry, 80 percent of new innovations are driven by the IT industry, labor costs have been stable or decreased for a number of years, and three of its cities - Berlin, Frankfurt and Munich - made Ernst & Young's top 10 cities in Europe for new investments.

In the overall rankings, Germany came in third with 560 projects, virtually tied with France at 562 projects. The UK came out on top with 728 projects, but the study noted a significant loss of market share "to countries such as Germany..." According to the Financial Times fdi markets database, Germany has surpassed France in total projects since the survey was conducted. The most important sectors for Germany were business services (15 percent), machinery and equipment (9 percent) and software (9 percent).

The Ernst & Young European Attractiveness Survey has been conducted since 2003. In 2011 a total of 812 international decision makers were asked to assess the attractiveness of Europe as an investment destination.

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.

SOURCE Germany Trade and Invest

For further information:

Germany Trade & Invest
Andreas Bilfinger
T: +49(0)30-200099-173
F: +49(0)30-200099-111

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Germany Trade and Invest

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