For the third year in a row, American business executives ranked Germany the top business location in Europe . In 2011, 87% of top American companies in Germany expect revenue growth and over half plan to hire new workers, according to a report released by AmCham Germany and the Boston Consulting Group.
Germany's rapid rebound from the global economic crisis was named as a key to business success.
"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," said Dr. Jrgen 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% 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% expected to increase revenue in 2010, this mark was surpassed as 82% 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% 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.