EIB Investment Survey 2024: European Union overview E-Book
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- Herausgeber: European Investment Bank
- Kategorie: Fachliteratur
- Sprache: Englisch
EU firms weathered recent shocks, such as the energy crisis, relatively well. But tougher economic conditions are starting to weigh on firms' willingness to invest. - The share of firms expecting to increase rather than decrease investment halved in 2024, falling to a net balance of 7% from 14% in 2023.The outlook for the future is mixed. The 2024 edition of the EIB Investment Survey, which collects data for around 13 000 firms in the European Union, finds that, on balance, businesses are worried about the political and regulatory environment and the overall economy. But they are more optimistic about business prospects and financial conditions, which they see as improving slightly. The survey also finds that many European businesses are satisfied with their level of investment over the past three years and are committed to tackling climate change and embracing digital technologies.
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EIB INVESTMENT SURVEY 2024
EUROPEANUNION
OVERVIEW
About the European Investment Bank
The European Investment Bank Group is the EU bank and the world’s biggest multilateral lender. We finance sustainable investment in small and medium-sized enterprises, innovation, infrastructure, and climate and environment. We have financed Europe’s economic growth for six decades and are at the forefront of EU crisis response, leading the world in climate investment and backing development of the first COVID-19 vaccine. We are committed to triggering €1 trillion in investment in climate and environmental sustainability to combat climate change by the end of this decade. About 10% of all our investment is outside the European Union, where our EIB Global branch supports Europe’s neighbours and global development.
Table of contents
EIBIS 2024 – EU overview
Investment dynamics and focus
Investment needs and priorities
International trade
Climate change and energy efficiency
Innovation activities
Investment barriers
Room for streamlining, and for strengthening the single market
Access to finance
Access to external finance
Gender equality in business
EIBIS 2024: Country technical details
About the EIB Investment Survey
The EIB Group Investment Survey (EIBIS), conducted annually since 2016, is a unique survey of approximately 13 000 firms across all European Union Member States, with an additional sample from the United States.
The survey collects data on firm characteristics and performance, past investment activities and future plans, sources of finance, financing issues and other challenges, such as climate change and digital transformation. The EIBIS uses a stratified sampling methodology, and is representative across all 27 EU Member States and the United States, as well as across four categories of firm size (micro to large) and four main economic sectors (manufacturing, construction, services and infrastructure). The survey is designed to build a panel of observations, supporting the analysis of time- series data. Observations can also be linked back to data on firm balance sheets and profit and loss statements. Developed and managed by the EIB Economics Department, the survey is conducted with support from Ipsos.
About this publication
The reports resulting from EIBIS provide an overview of data collected for the 27 EU Member States and the United States. They are intended to provide a snapshot of the data. For the purpose of these publications, data are weighted by value added to better reflect the contribution of different firms to economic output. Contact: [email protected].
Due to rounding, charts may not add up to 100%.
Download the findings of the EIB Investment Survey for each EU country and explore the data portal at www.eib.org/eibis.
Main contributors to this publication
Marine AndréJulie DelanoteEa DumancicPeter HarasztosiChristoph Weiss
EIBIS 2024 – EU overview
Key results
Investment dynamics, needs and priorities
The EU economy is showing signs of a potential soft landing, which is mirrored in firms’ more cautious investment plans. While the corporate sector has managed to withstand successive shocks relatively well, and the share of firms that are investing has risen steadily in recent years, the share of those expecting to increase rather than decrease investment halved in 2024 (from 14% in 2023 to 7%).
The investment outlook remains mixed. Overall, EU firms have a negative outlook on the political and regulatory environment and the overall economic climate, with more firms expecting a deterioration than an improvement in the next 12 months. EU firms see mild improvements – in net terms – in business prospects within their own sectors and in the availability of internal finance, although these improvements are less visible than in the United States. The outlook for access to external finance remains only very slightly positive in net terms, similar to the US.
Many EU firms are satisfied with their overall level of investment over the last three years, but a meaningful portion reports investment gaps (14%). EU firms continue to prioritise replacement investments over capacity expansion, with the share of firms investing to expand operations remaining 6 percentage points below that of the US. EU firms devote a significant portion of their investments (37%) to intangible assets, focusing less on land, buildings, and infrastructure than US firms do (14% vs. 24%).
Looking ahead, EU firms still prioritise replacement investment over capacity expansion. This contrasts sharply with US firms, where 47% prioritise capacity expansion for the next three years, compared to 26% of EU firms. In the European Union, 36% of firms focus on replacement and 25% on the development of new products and services.
Global value chains, climate change and innovation
The decline in firms’ investment appetite contrasts with the widespread recognition at the European level of significant structural investment needs for innovation, digitalisation, the green transition, and dealing with geopolitical risks and supply chain disruptions.
