More German companies prefer to invest abroad – survey

Lazy eyes listen


According to a survey conducted by the German Chamber of Commerce and Industry (DIHK), more than half of German enterprises believe that shifting away from Russian gas will affect their company.

The DIHK’s energy transition barometer poll, released on Tuesday, revealed that the barometer value is -27 on a scale of minus 100 (‘extremely negative’) to plus 100 (‘very positive,’ the lowest score since the survey’s inception in 2012.

“The confidence of German business in energy policy has currently sunk to a low point,” said DIHK deputy managing director Achim Dercks. “Worries about their own competitiveness have never been greater.”

According to the report, the percentage of enterprises considering leaving the country is increasing. Almost one-third of industrial firms intend to shift or reduce output abroad, more than double the 16% level from last year. 5.2% have already adopted actions to relocate or reduce output, 10.5% are in the process, and 16% have plans in place.

“These figures are alarming given the importance of industry to Germany as a business location,” Dercks said.

Many German businesses are concerned about insufficient energy supplies, even in the medium and long term, he said.

More than 3,500 enterprises from all sectors and regions in Germany were polled by the chamber of commerce.