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Economists rate Germany as a location with 3.4: According to experts, there is a need for reform
Current assessment by economists: “Germany is still a satisfactory location” - experts are calling for urgent reforms in bureaucracy and digitalization. Economic analysis from ifo Institute.
Economists rate Germany as a location with 3.4: According to experts, there is a need for reform
The assessment of Germany as a business location by economists shows a mixed outcome. With an average grade of 3.4 in a survey by the ifo Institute among 180 professors of economics at German universities, Germany is not at the top in an international comparison. Particular points of criticism are the bureaucracy and regulations, which the experts highlighted as problematic.
To improve the situation, economists are calling for reforms that include, among other things, a reduction in bureaucracy, increased investment in infrastructure and digitalization, and an adjustment to the retirement age. The Organization for Economic Cooperation and Development (OECD) joins in with proposals to repeal environmentally harmful tax breaks and reform the debt brake in order to expand the federal government's financial leeway.
Despite the weaknesses, the experts also see strengths in Germany as a business location, particularly in the stable political institutions, functioning democracy, the rule of law, economic freedom and low levels of corruption. Factors such as education, human capital, security, geopolitical risks and access to financing were also identified as Germany's general strengths.
It is clear that reforms and adjustments are necessary to further strengthen Germany as a business location and to remain internationally competitive. The assessment by economists highlights the challenges, but also the potential that can make Germany successful in the future.