Germany is Europe's top place to invest
The Local · 28 May 2014, 08:15
Published: 28 May 2014 08:15 GMT+02:00
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A global survey of investors and managers from Ernst & Young placed Germany as the best place in Europe and fourth best place in the world to invest behind China, the USA and Russia.
Managers worldwide said Germany, which had climbed two places in the rankings since last year, was particularly attractive due to its stable and transparent political and legal environment.
Other important pluses included the country's solid infrastructure and well-qualified workforce, according to the study carried out by the London-based professional services firm.
Eighteen percent of the managers asked said Germany would be in their top three places to invest - up from 10 percent in 2010. And it would seem the nation's perceived popularity is also translating into real investment.
The number of foreign investment projects in Germany rose last year by 12 percent to reach a record number of 701 - up from 305 projects in 2007, the year before the financial crisis hit.
American investors were more likely to take their money to the UK (seventh in the global ranking) the results suggested, whereas investors from the rest of the world preferred Germany if heading for western Europe.
Despite the Eurocrisis, 49 percent of those asked said they believed Germany would continue to increase in attractiveness, as opposed to 13 percent who said the opposite.
"Germany is clearly the most robust and competitive of the large economies in Europe and has an excellent reputation among foreign businesses," said EY partner Peter Englisch.
Meanwhile, four German cities made it into the a separate survey of the "hottest retail markets" also released on Tuesday by US real estate multinational CBRE, with the trendy German capital beating London and Moscow (joint seventh place) to place fifth.