According to a new study, the southern German state of Bavaria is the second best location for industrial companies internationally after the United States. This is according to the economists at the Cologne Institute for Economic Research (IW), in their comparative study of 45 industrial countries. Switzerland came in third place, Germany as a whole came in fifth. Other German states are not included in the study published in Munich on Tuesday. The study was commissioned by the Bavarian Business Association (vbw), the umbrella organization of employers in the state.
The IW examined 61 indicators in six subject areas ranging from the quality of public administration, the education system, and the capital market to wage costs. The evaluation is based on data from the year 2018; the effects of the coronavirus pandemic have not yet been included.
One of Bavaria's distinguishing features is that the share of industry in economic output has actually risen since 2005 - in most traditional industrial states, the importance of industry has declined rather than increased in recent decades. According to the IW economists, Bavaria's strengths include good governmental conditions, a very good environment for innovation, and good infrastructure. However, the U.S. performs even better in some areas, such as costs, raw materials, and the capital market.
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