Germany has the world's third largest economy and is a world leader in exports, making it a significant global player. Its location at the heart of Europe, its productive workforce, its technological superiority and its progressive business policies continue to attract investments. A survey, recently published by the management consulting firm, Ernst & Young, revealed that Germany is still the most attractive investment location in Europe. Germany occupies the fourth position (after China, the USA and India) among the ten most popular investment locations in the world. The number of investment projects in Germany has risen to about 57 percent within one year.
The country's well developed infrastructure and highly skilled manpower are the key factors alluring businessmen from abroad. A number of international airports and a dense network of roads and railways provide excellent connectivity within as well as outside the country. It also facilitates its easy integration with the world economy, a factor much desirable in this age of globalisation.
It is one of the world's largest producers of iron, steel, coal, cement, chemicals, machinery, vehicles, machine tools, electronics, food and beverages, shipbuilding and textiles. Its renewable energies present tremendous potential for growth. No other country possesses as many wind power plants as Germany (it has more than a third of the world's total installed capacity). Although its geographical position facilitates only moderate solar radiation, quite remarkably, it has developed into the largest solar thermal market, having an installed capacity of about one million solar energy plants. A number of chemical and pharmaceutical majors have their origin in Germany and have now gained worldwide popularity. German biotechnology enterprises, today, are predominantly focussing on the development of new therapeutics.
Frankfurt Stock Exchange
Frankfurter Wertpapierbörse or the Frankfurt Stock Exchange is one of the world's largest trading centers for securities. It is the largest of the seven German stock exchanges and ensures smooth and efficient functioning of exchange trading. It contributes about 90 percent of the entire turnover of the German stock markets and is owned and operated by Deutsche Börse AG. Deutsche Börse AG, apart from being the marketplace organizer for trading in shares and other securities, is the largest exchange organization in the world. By using advanced technology and efficient mechanism it provides the companies and investors access to global capital markets. The Frankfurt Stock Exchange, a body established under public law helps in advanced electronic trading, settlement and information systems. Apart from the traditional floor trading, it also operates Xetra, one of the leading electronic trading platforms in the world. Launch of Xetra in 1997 succeeded in consolidating its competitive base and providing a framework for foreign investors and market participants. This has made it an international trading center as about 140 of its 300 market participants come from abroad.
Deutsche Bank
Deutsche Bank, a leading global investment bank, with a network of 75,140 employees in about 75 countries, is known for its efficient financial services throughout the world. It was established in Berlin in 1870 to support the internationalization or globalisation of business and to promote and facilitate trade relations between Germany, other European countries, and overseas markets. Already a leader in Germany and Europe, it is continuously spreading its influence in North America, Asia and other emergent markets. The bank structure is divided into 3 broad categories, Corporate and Investment Bank, Private Clients and Asset Management and Corporate Investments. The chief task of the Management board of the Bank is to look after its holistic management, resource allocation, financial accounting and controls, capital and risk management, etc. For its efficiency and effectiveness it has won many awards including the IFR "Bank of the Year" award, twice in three years.
Jobs In Germany
Germany's Federal Employment Office puts the rate of unemployment at 10.8 percent in the year 2006 while the International Labor Organization (ILO) estimates it to be 7.1 percent. As compared to the west, rate of unemployment is considerably higher in the east, except for the capital city of Berlin. An analysis reveals that it is higher in the country's traditional heavy industries dominated areas, such as mining, construction and ship-building. After Re-unification, a number of people migrated from the east to the west and this has led to the problem of brain drain in the east. Germany has a high standard of education, which lays emphasis on vocational as well as academic study. German graduates are generally older in age and have more vocational qualifications than British graduates. In the competitive job market of the country, one needs to be professionally qualified and have skill sets to fit in those sectors that are suffering from staff shortages. The main areas of initial employment for fresh graduates in Germany include teaching English as a foreign language in private language schools, and participating in construction, hotel and catering industries. There are a host of opportunities in other fields as well, including IT, etc.
German salaries are believed to be among the highest in the world but most of it is lost in paying for social security charges and taxes. The working week here is shorter than in the UK, with most people working for around 35 hours. Although English is a widely spoken language, knowledge of German language is extremely essential for a comfortable work environment.
German Cars:
The automobile industry is one of the chief industries of Germany. Cars and automotive parts are among the country's top export items. Germany's complex and versatile world of cars caters to the tastes of aristocrats and genuine car lovers. German cars such as AUDI, BMW, Mercedes-Benz, Opel, Porsche and Volkswagen (VW) undoubtedly occupy the top positions in the list of the most prestigious cars. These expensive beauties are owned by the monetarily well off classes which lay more emphasis to external looks and luxurious interiors of these vehicles. While BMW and Mercedes-Benz cater to the needs of a more wealthy class, AUDI (the elite subdivision of the Volkswagen Group), competes with its rivals on the parameter of price. Opel is targeted at the middle-class population. One can easily hire a car in Germany and enjoy a drive around the extensive network of roads.
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