Invest in Austria (ABA) Survey of 300 European CEOs: Impacts of Corona – Globalized Economy will change
In a study contracted by the Austrian investment promotion consultancy ABA – Invest in Austria, two-thirds (66%) of the managers interviews state that they expect a review of international work distribution and a dismantling of globalized supply and value chains.
Two-thirds are also convinced that Europe will gain in importance as a production location. Accordingly, the majority of the business leaders anticipate increased investments in European manufacturing. ”A partial relocation is to secure European locations is crucial decisive for companies in order to effectively position them for the future”, says ABA Managing Director Rene Siegl.
Digitalisation and climate protection as a driving force for the economy
European managers stated their intention to primarily invest in the fields of digitalisation (89 percent), research and development (85 percent) and the environmental compatibility of products and processes (74 percent). Some two-thirds of the managers (66 percent) contend that climate protection measures will stimulate the economy.
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Energy reliability is increasingly important for location selection
From the point of view of European managers, the degree of digitalisation (84 percent), increased public sector research budgets (91 percent), a higher overall research quota (69 percent), the potential pool of skilled labour (60 percent) and energy supply security (63 percent) are important for the future of a business location. “It surprised me that energy reliability is such as a key business location factor in the assessment of the managers. I would have expected qualified employees to be an even more important issue”, according to ABA Managing Director Siegl.