What makes the German economy so strong?
In the business world, it is well known that Germany has a strong economy and worldwide trading reputation, but why is this?
The German economy’s competitiveness and worldwide networking can be attributed to its elevated level of innovation and strong export orientation. Exports account for well over half of overall sales in high-selling sectors like car manufacturing, mechanical and plant engineering, the chemicals industry, and medical technology.
What is the current economic situation in Germany?
The current economic situation in German is strong. Germany is the top trading nation in the European Union and considered to be one of the most international economies in the world after the USA, China, and Japan. A national focus on innovation and international exports is present within the country, which many businesses are embracing.
Germany invested 106 billion euros on research and development in 2020. The mega-trends of digitisation (Internet of Things, artificial intelligence, Blockchain, cyber security, smart systems, e-commerce) constitute a significant challenge for many German enterprises. At the same time, they provide prospects for a vibrant and rising German start-up environment.
What is the future of the German economy?
As with many economies around the world, Germany took an economic hit during the global pandemic. However, the German economy is recovering well and set to grow by 4% this year which would represent the largest increase in growth since the reunification of East and West Germany over 30 years ago.
Germany is a globalisation leader, keeping close relations with the world’s most powerful economies. In the coming decades, this could pay off even more. German business is charting a bright future by investing in emerging markets, closely associating itself with highly specialised, worldwide companies, and investing extensively in research.
Why is Leipzig a suitable location for business?
Leipzig is currently Germany’s fastest developing city. The booming economic region of Leipzig has a decisive competitive advantage over other European locations: it still has space to grow.
By locating your company in Leipzig, you will benefit from a first-class multimodal connection to the national, European, and global transportation networks, excellent availability of affordable commercial land and premises, and highly motivated and qualified specialists from all sectors – all while enjoying a remarkable quality of life.
The Leipzig region provides ideal conditions for your business to settle and flourish, with a variety of appealing sites of various kinds and sizes. Together with the regional offices for economic development and local real estate agents, Invest Region Leipzig will find the best location for your company, whether industrial, commercial, laboratory or office space, already developed, or in a brownfield or greenfield site.
Looking to relocate your business to Leipzig?
Together with the regional offices for economic development and local real estate agents, Invest Region Leipzig will find the best location for your company, whether industrial, commercial, laboratory or office space, already developed, or in a brownfield or greenfield site.
Find out more about Leipzig and discover Invest Regional Leipzig’s business relocation services here.