Frankfurt am Main, November 30, 2023 – In the context of Germany facing external and internal political turbulence, the 17th Transatlantic Business Conference of AmCham Germany is taking place to discuss the potential of a deepening transatlantic partnership considering rapidly developing technologies, security challenges, and shifts in the international order. The wide range of high-ranking speakers includes U.S. Ambassador Dr. Amy Gutmann and Dr. Tobias Meyer, CEO of DHL Group.
On the occasion of this conference, Christina Raab, Vice President of AmCham Germany and Market Unit Lead Accenture Austria Switzerland Germany presents the results of AmCham Germany’s annual TOP 50 / TOP 30 survey, of the TOP 50 U.S. companies in Germany based on sales revenue and the TOP 30 largest U.S. employers in Germany. The survey was conducted in cooperation with Accenture.
Around 90 percent of the TOP 50 U.S. companies in Germany reported a positive revenue development in 2022, and 40 percent registered a double-digit percentage growth. The three largest U.S. companies in Germany based on sales are Amazon, Ford, and ExxonMobil. The three largest U.S. employers in Germany are McDonald’s, Amazon, and the United Parcel Service.
According to the interviewed top U.S. companies in Germany, the economic relations between the transatlantic partners will stay stable in next three years, while the political relations will grow slightly closer. By far, Germany's most important location factors as an attractive business location are political stability (59%), the size of its sales market (53%), and the availability of a skilled workforce (41%).
But there is no perfect world, also not in Germany. U.S. companies here are increasingly critical about the high and rising levels of bureaucracy. Particularly, this development puts Germany’s attractiveness as a business and investment location at risk.
Immediate economic policy decisions are needed to foster strong and sustainable economic growth in Germany. The most crucial are reducing bureaucracy (72%), increasing digital transformation (53%), accelerating public administrative processes (41%), and the reconstruction of the school and education system (38%).
AmCham Germany President Simone Menne emphasizes: "Germany remains a key investment location for U.S. companies. However, this does not mean that this trust in Germany as an Investment location and its attractiveness is guaranteed. Action is required on multiple fronts."
AmCham Germany Vice President Christina Raab points out: "Germany is increasingly perceived by U.S. companies as too bureaucratic and not digital and innovative enough. To remain competitive, government and businesses need to invest now in digitization and skills."
Downloads:
• The Rankings 2023 of the TOP50 U.S. Companies by Revenue and TOP30 Largest U.S. Employers in Germany
• The Survey Presentation at the 17th Transatlantic Business Conference of AmCham Germany on Nov. 30, 2023 in Frankfurt
About the Rankings
Each year, AmCham Germany releases its ranking of the TOP 50 U.S. companies in Germany and the TOP 30 largest U.S. employers in Germany. The TOP 50 ranking lists the largest companies with more than 50% U.S. capital in Germany in terms of revenue. It refers to the 2022 fiscal year. The revenue and employee figures are based in part on estimates conducted solely by AmCham Germany and Accenture. Companies for which no substantiated estimate is possible are not included in the ranking. All other data is given by companies or compiled from company websites and/or annual reports pursuant to SEC reporting requirements.
Each year, the rankings are accompanied by a presentation of important challenges for transatlantic business relations and how U.S. companies assess Germany as a business location. An online survey among the largest U.S. companies in Germany was conducted by AmCham Germany and Accenture in October 2023 to gain insights into how U.S. companies assess Germany as a business location. The summarized and anonymized results of this online survey are published on AmCham Germany's website.
