According to the new AHK Asia-Pacific Business Outlook, German companies assess their current business situation positively while their outlook is even more positive. In September and October 2023, more than 800 member companies of the German Chambers in the region were surveyed on their business prospects. Companies in India are particularly optimistic.
“We see that German companies are increasingly exploiting the potential of the dynamic Asia-Pacific region and are investing and creating jobs in many locations”, said Dr Martin Wansleben, Chief Executive of the German Chamber of Commerce and Industry (DIHK) in Berlin. The positive signals from Asia-Pacific are an important ray of hope for the economy in Germany, as the economic optimism in Asia Pacific is also associated with great opportunities for German companies at their domestic locations.
“The confidence that our companies in the Asia Pacific region are feeling should be a reason for us in Germany and Europe to finally put aside the bureaucratic red tape in order to improve our competitiveness here in Germany. Otherwise, countries in Asia-Pacific will soon outpace us”, advised Dr Wansleben.
Companies in India and Sri Lanka as well as in Southeast Asia and New Zealand assessed their situation and prospects as very positive, whereas companies in Greater China were noticeably more pessimistic about the economic development in their local markets. For respondents from Hong Kong, demand (72%), shortage of labour (44%), and economic policy (31%) stood out as the main business risks. Meanwhile, market size and development (78%) as well as proximity to the customer / localisation (48%) were the primary driving factors for local investments.
