NextGen Day

According to the German-Philippine Chamber of Commerce and Industry’s World Business Outlook (WBO) Spring 2022 study, more German companies doing business in the Philippines now describe their condition as “excellent” (GPCCI).

Approximately 47% of those who responded to the poll indicated their company’s present condition in the Philippines is “excellent,” up from 32% in the WBO Fall survey from 2021.

Approximately 43% of the German companies in this area rated their Philippine business environment as “satisfactory”.

There is a noticeable decrease in the number of businesses reporting that their business is currently in a “poor” state in the WBO Spring Survey 2022.

Those who said their business was in a “poor” state decreased from a high of 36% in the spring and fall surveys in 2020 to 29% in the spring and 20% in the fall, according to the most recent poll.

The GPCCI executive director Christopher Zimmer stated in a statement on Wednesday that “the improving condition of the pandemic in the Philippines is clear with the low case reports and loosened business restrictions, this is felt by the German business community in the nation.”

Businesses expecting worse business circumstances over the following 12 months decreased even further, from 3 percent in the Fall 2021 survey to 1 percent in the WBO Spring Survey 2022.

Over the next 12 months, around 55 percent of business owners are hopeful, while 44 percent anticipate their company will remain in the same condition.

According to Zimmer, “We have also seen an increase in investment interest, which demonstrates the confidence of businesses engaged in German-Philippine economic connections.”

The Russian invasion of Ukraine has had significant economic repercussions, according to German businesses in the Philippines. These included increased energy and raw material costs, issues with logistics and the supply chain, and a shortage of commodities and raw materials.

Since many European nations are reliant on Russian energy imports, most businesses are suffering as a result of the Russian-Ukrainian conflict. Global supply chains have been disrupted and energy prices have significantly increased as a result of the sanctions imposed as a result of the war’s outcomes, according to Stefan Schmitz, president of the GPCCI.

German enterprises here stated that given these difficulties posed by geopolitical developments, the prices of energy, raw materials, and exchange rates rank as their top three concerns for the upcoming year.

Schmitz stated, “We look forward to collaborating with the incoming administration to address these concerns and to promote economic growth in the nation.

81 businesses participated in the WBO Spring 2022 poll.

Save/Share this story with QR CODE

---

Disclaimer

This article is for informational purposes only and does not constitute endorsement of any specific technologies or methodologies and financial advice or endorsement of any specific products or services.

📩 Need to get in touch?

📩 Feel free to Contact NextGenDay.com for comments, suggestions, reviews, or anything else.

---

We appreciate your reading. 😊Simple Ways To Say Thanks & Support Us:
1.) ❤️GIVE A TIP. Send a small donation thru Paypal😊❤️
Your DONATION will be used to fund and maintain NEXTGENDAY.com
Subscribers in the Philippines can make donations to mobile number 0917 906 3081, thru GCash.
3.) 🛒 BUY or SIGN UP to our AFFILIATE PARTNERS.
4.) 👍 Give this news article a THUMBS UP, and Leave a Comment (at Least Five Words).

---

AFFILIATE PARTNERS

World Class Nutritional Supplements - Buy Highest Quality Products, Purest Most Healthy Ingredients, Direct to your Door! Up to 90% OFF.
Join LiveGood Today - A company created to satisfy the world's most demanding leaders and entrepreneurs, with the best compensation plan today.

---