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Country

June 19, 2024

Netherlands

The Netherlands is located in North-West Europe, sharing borders with Belgium and Germany. The country is a constitutional monarchy and parliamentary democracy, with the beautiful city of Amsterdam as its capital. For its size, the Netherlands is quite densely populated with an average of 492 inhabitants per square kilometer. This is reflected in the population and in 2012, statistics show that the country’s population has reached 16.77 million. An extremely low lying nation, 20 percent of the Netherlands, along with 21 percent of its population, lie below sea level. With 50 percent of its land lying less than one meter above sea level, flooding presents a serious risk to the population resulting in a series of projects known as the Delta works. In 2012, the Netherlands is recognized as one of the world’s most liberal nations. A relaxed drug policy, legal euthanasia and an allowance for same-sex marriage have all become notable features of Dutch culture. The Netherlands is located in North-West Europe, sharing borders with Belgium and Germany. The country is a constitutional monarchy and parliamentary democracy, with the beautiful city of Amsterdam as its capital. For its size, the Netherlands is quite densely populated with an average of 492 inhabitants per square kilometer. This is reflected in the population and in 2012, statistics show that the country’s population has reached 16.77 million. An extremely low lying nation, 20 percent of the Netherlands, along with 21 percent of its population, lie below sea level. With 50 percent of its land lying less than one meter above sea level, flooding presents a serious risk to the population resulting in a series of projects known as the Delta works. In 2012, the Netherlands is recognized as one of the world’s most liberal nations. A relaxed drug policy, legal euthanasia and an allowance for same-sex marriage have all become notable features of Dutch culture. The Netherlands has a modern, developed economy with an educated workforce, focused primarily on the chemical industry, metallurgy, and electrical goods. Its location ensures easy access to key markets in the UK and Germany, as well as the rest of continental Europe. Well known Dutch companies include Heineken, Shell and Philips. A knowledge-based economy with significant English language skills has proven attractive to foreign investors, and none more so than the United States. Statistics show that the United States has invested heavily in the Netherlands over the last decade, contributing billions to the economy. Ripples from the worldwide financial crisis have been felt in the Netherlands, but it has not suffered as badly as neighbouring countries. Over the past four years, unemployment has risen slightly with figures showing that the official level now stands at 5.5 percent. A 2011 WTO ranking of the largest exporting countries listed the Netherlands as the fifth-largest merchandise exporter worldwide, and the country has a GDP per capita of 47,841.92 U.S. dollars in 2012.

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Country

June 19, 2024

Greece

Greece is a developed country in the EU and is highly dependent on its service sector as well as its tourism sector in order to gain profits. After going through a large economic boom from the 1950s to the 1970s as well as somewhat high GDP growth in the early to mid 2000s, Greece’s economy took a turn for the worse and struggled intensively, primarily due to the Great Recession, the Euro crisis as well as its own debt crisis. National debt within the country saw significant gains over the past decades, however roughly came to a halt due to financial rescue packages issued from the European Union in order to help Greece maintain and improve their economical situation. The nation’s continuous rise in debt has overwhelmed its estimated GDP over the years, which can be attributed to poor government execution and unnecessary spending. Large sums of financial aid were taken from major European banks to help balance out these government-induced failures and to potentially help refuel the economy to encourage more spending, which in turn would decrease the country’s continuously rising unemployment rate. Investors, consumers and workers alike are struggling to see a bright future in Greece, whose chances of an economic comeback are much lower than that of other struggling countries such as Portugal and Italy. However, Greece's financial situation might improve in the future, as it is estimated that at least its national debt will decrease - slowly, but steadily. Still, since its future participation in the European Union is in limbo as of now, these figures can only be estimates, not predictions.

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Country

June 19, 2024

Switzerland

Switzerland has a population of around 8.7 million inhabitants and a high GDP per capita, which will reach USD 91,603 in 2021 (data from the EIU - The Economist Intelligence Unit). The Swiss economy is one of the most prosperous, modern and competitive in the world, characterised by a highly developed tertiary sector (driven by financial services) and by an industry based on high technology and innovation. It also has a demanding business culture and a highly qualified workforce. In 2021, there was an increase in gross domestic product of 4.2%, and GDP growth of 2.2% is forecast for 2022. Private consumption is expected to slow down in 2023, due to the rise in inflation and the increase in borrowing costs, and a slight reduction in exports of goods and services, with the EIU forecasting a 0.3% increase in GDP. In terms of business opportunities, Switzerland could be an interesting market for areas such as the agri-food sector, clothing, footwear, furniture and decoration, electric mobility, railways, architecture, construction, health, information and communication technologies, and aeronautics, among others. Main languages: German (spoken by 64% of the population), French (19%), Italian (8%) and Romansh (1%)

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Country

June 19, 2024

United Kingdom

The United Kingdom (UK) is the 5th largest economy in the world and the 2nd in Europe. The country ranks as the 14th largest exporter of goods and second largest importer of services worldwide, and as the 7th largest importer of goods and 6th largest importer of services. On 31 January 2020, the UK left the European Union, after 47 years of membership, and a Trade and Cooperation Agreement was subsequently negotiated between the parties, applicable from 1 January 2021. Implementing the new trade relationship with the EU and combating the COVID-19 pandemic have been huge challenges for the country. After a severe contraction of gross domestic product in 2020 (-9.7%), the UK recorded a GDP expansion of 7.4% in 2021, driven by the performance of economic activity from the second quarter onwards as a result of the fiscal and monetary policy measures implemented and an easing of restrictions. The Russia-Ukraine conflict, with a strong impact on energy price increases, political instability within the British government, and the persistence of some uncertainty associated with the implementation of the Northern Ireland protocol may condition the evolution of the respective economic activity, forecasting a 3.6% growth in 2022, according to EIU and OECD data. No. of people: 68.2 million (estimate 2021)

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Country

June 19, 2024

Austria

Austria is a developed country located in Central Europe, with a highly developed and modern payment infrastructure. Despite this, payment habits in Austria still reflect a preference for traditional methods, such as cash, while also showing a growing acceptance of digital payments. In Austria, cash remains the most popular form of payment. In 2019, 82% of all transactions and 65% of the total transaction value were made in cash. Debit cards are primarily used for payments starting at EUR 20 and gain substantial ground for payments ranging from EUR 50 to EUR 100. Credit cards are only used for about 5% of all payment means and mostly for amounts over EUR 50. Overall, cash payments are being replaced by debit card payments, but cash is still widely used for all types of payments, including higher-value transactions. However, the growth of e-commerce has led to a shift in payment habits in Austria. Online trade has been steadily growing over the past years, and this trend has gained further momentum as traditional shopping options were restricted during COVID-19 lockdowns. According to the Austrian Retail Association, the money spent in Austria for online purchases reached EUR 10.4 billion in 2020 – a new record high that represents a 20% increase compared to the previous year.

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Country

June 19, 2024

France

With 68.0 million inhabitants with high purchasing power, France is the 7th largest economy in the world, the second largest in the European Union, and one of the leading exporters and importers worldwide (9th as exporter and 6th as importer).The French economy is highly developed and is mainly based on the services sector (79.4% of GDP - 2022 estimate). The agricultural sector, aeronautics, automobile, and luxury goods industries are also noteworthy. After a 7.9% contraction of the gross domestic product in 2020 due to the effects of the Covid-19 pandemic, the country recorded a 6.8% recovery in 2021, driven by increased investment, consumption, and the easing of pandemic restrictions. In 2022, according to estimates by the EIU - Economist Intelligence Unit - the country recorded economic growth of 2.6%, and a significant slowdown is expected in 2023 (0.4%), in a context of inflationary pressures, restrictive monetary policies and rising interest rates, accentuated by the current war in Ukraine.France offers business opportunities in various sectors of activity, particularly in the construction, food, furniture and ICT sectors. It is important that the economic agents do not fail to mark their presence at the "anchor fairs" that take place in the country, and to evaluate the possibilities that e- commerce can offer. On the other hand, betting on quality and highly differentiated products is fundamental to face the strong competition, particularly from France.

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