U.S. companies give Germany good marks as a business location even in the midst of the coronavirus crisis. The 50 U.S. companies with the highest turnover in Germany gave the location a grade of 1.8 this year, which is even more positive than in the previous year, the U.S. Chamber of Commerce in Germany (AmCham Germany) announced on Monday. "The confidence of the top 50 companies in the German economy is high," said Frank Sportolari, President of AmCham Germany, according to the press release.
Measures such as the short-time working allowance were a hallmark of the business location, as was the rescue package for the self-employed and SMEs. Half of the top 50 companies had kept their investments in Germany constant in the wake of the COVID-19 pandemic, 31 percent even invested more than before. The US companies expect the German economy to recover significantly in 2021.
This year, however, the crisis is leaving a clear mark on balance sheets. According to the figures released by AmCham Germany, 56 percent of the companies are seeing a decline in sales in Germany, 39 percent see a decline in profitability.
The ranking of the largest U.S. employers in Germany was again led in the last fiscal year by McDonald's Germany (approximately 61,000 employees including franchise), followed by Ford (22,650), Amazon, and United Parcel Service Germany (20,000 each).
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