Germany’s education system gets the plaudits
AmCham Germany releases its annual business barometer
Mar 18, 2014
Berlin/Munich (gtai) - 98% is not a bad pass mark in any exam in any country, so those in charge of Germany’s education system must be delighted with that grade given to them by the members of AmCham Germany on Tuesday.
In the Annual AmCham Germany Business Barometer, a survey of the 3,000 members of the American Chamber of Commerce in Germany, 98% of the American companies surveyed rated Germany’s well-educated and trained workforce as its particular strength when it comes to attracting foreign investment.
The infrastructure (supplier networks gained 86% of the approval) and R&D landscape (also 86%) came in second and third. For nearly every third American company, Germany is Europe’s top business location – more than double the next country in the rankings of the surveyed members.
Dr. Benno Bunse, CEO of federal foreign trade and inward investment agency Germany Trade & Invest, was quick to react to the positive sentiments.
“We have long since laid emphasis on our unique parallel education and vocational training system in Germany as a means of gaining a competitive advantage in key practical industries,” he said.
“Our two-pronged system ensures that we have both the brains to create good products and solutions, and some well-trained brawn to produce and apply them respectively.”
Unsurprisingly, the large portion of the surveyed companies anticipates an increase in business in Germany this year, for a glut of reasons. The Transatlantic Trade and Investment Partnership (TTIP), the freer trade agreement between the US and EU currently being negotiated is one, with 70% of survey respondents looking to the TTIP to give trade a leg-up.
Germany’s general economic upward trend is another. Nearly 80% of surveyed companies anticipated an increase in sales in Germany, a shade under 50% anticipated increased investment and 41% expected to take on more workers. 60% thought that they would be increasing business activity in Germany within the next three years.
“America is Germany’s most important foreign direct investment and trade partner on many levels,” continued Dr. Bunse.
“It is welcome news that we have created such an investment friendly atmosphere to such a cherished partner. Germany continues to strive to have the best infrastructure, workforce and business climate in the world, so to receive sentiments such as these shows we are all doing our job well.”