Germany overtakes Japan economically
Now it’s official: Germany has overtaken Japan to become the third largest economy in the world after the USA and China. According to the Japanese Cabinet Office, Japan’s gross domestic product (GDP) grew by 1.9% in 2023 adjusted for inflation, while Germany’s shrank by 0.3%. However, due to the strong devaluation of the yen, Asia’s oldest industrialized nation only reached 4.21 trillion dollars in dollar terms, compared to 4.46 trillion dollars in Germany. Source.
Microsoft will invest $3.44 billion in Germany
U.S. software giant Microsoft will invest 3.2 billion euros ($3.44 billion) in Germany in the next two years, mostly in artificial intelligence, offering a boost to Europe’s largest economy as it faces its worst slump in 20 years. Source.
Interested in going to Germany? Germany also has investment incentives:
- R&D Spending Incentives
- Germany’s High-Tech Strategy 2025
- EU R&D Grants
- R&D Tax Credits in Germany