Germany’s reaction to the coronavirus pandemic has bolstered the country’s standing among its American economic partners. In the 2020 edition of the American Chamber of Commerce in Germany’s annual list of the top 50 US companies in Germany, US businesspeople give the country a grade of 1.8 as a business location. That’s higher than last year.
“If you look at the performance of Germany compared to many other countries, the healthcare system and the ability to manage the crisis better will certainly leave a positive impact on potential investors,” said AmCham Germany President Frank Sportolari in a statement. “And that’s good – even in the midst of something that’s bad.”
AmCham Germany also specifically praised German Kurzarbeit (literally: shortened work) furlough program for helping to maintain labor pools and help companies recover from corona-related restrictions. And the poll isn’t the only indication that Germany is being viewed positively.
“Our foreign direct investment numbers support the results of the AmCham survey,” says Thomas Bozoyan, the head of Germany Trade & Invest’s FDI Competence Center. “During the crisis the United States and France have increased their investments in Germany by 11 and three percentage points respectively.”
At the head of the Top 50 list itself, there has been a shakeup that predates the corona crisis. Topping the heap of US companies in Germany was Amazon, which recorded EUR 19,853,176,000 in sales in 2019. That pipped Ford. The carmaker did EUR 19,804,000,000 in business last year.
Other famous brands in the top ten included Exxon, John Deere, Microsoft and Google. Sales of the 50 largest US companies in Germany increased by an average of 1.8 percent last year, AmCham reported.