Singing the praises of Viennese business

Austria

When the Vienna Opera Ball starts, public attention turns automatically to Richard Lugner. The press has been trying to guess who will be his guest of honour each year since 1991. Lugner himself is above all else a successful businessman and as such finds himself in prominent company with the likes of Dietrich Mateschitz or Niki Lauda. And that is just the start of the list.

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Where politics meet economics

Belgium

Belgium is one of the founding countries of the European Union, and its capital Brussels is home to numerous political bodies of the EU. Economically speaking, Belgium is experiencing a phase of moderate growth. Experts expect an increase in the real gross domestic product of 1.3% for the current year. Its most important trading partners include Germany, the Netherlands and France.

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Gem of the Adriatic Sea

Croatia

Services constitute Croatia’s most important economic sector. This sector accounts for about 70% of the gross domestic product of roughly 43 billion EUR. Tourism is especially important. The food industry leads the way in the processing sector.

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Stronghold of industries

Czech Republic

The Czech Republic has found itself on a growth curve in recent years. The country in the heart of Europe expects continued increases at a rate of over 2%. Industry, in particular the automotive industry, is an economic heavyweight. Interesting fact: At 4%, the Czech Republic could boast the lowest unemployment rate within the EU in the second quarter of 2016.

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Expertise guarantees success

Denmark

Denmark may not be part of the Eurozone, but it is closely connected economically to the economic zone. About one third of the gross domestic product is generated through exports. The country is shaped especially by its internationally known medium-sized industrial and service companies.

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French savoir-faire in economy

France

France is the second largest industrial country in Europe and ranks Number 6 among national economies worldwide. The country offers a very broad and diversified economy. France is renowned for several sectors: Service/tourism, energy, automotive, aviation, among others. Experts predict a growth of the economy by 1.5% in 2017.

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At the heart of Europe

Germany

In terms of gross domestic product, Germany is regarded as the largest national economy in Europe. By global comparison, the automotive, commercial vehicle, electrotechnical, mechanical engineering and chemical sectors are among the most important business sectors of industry. The latest forecasts predict moderate growth of 1.7% for the current year.

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More than Lake Balaton and Budapest

Hungary

When we think of Hungary, it is above all destinations such as Lake Balaton and the capital Budapest that come to mind. However, Austria’s neighbour is not just a Mecca for tourists but an economic powerhouse in the heart of Europe. Evidence of its importance can be found in the close economic ties between Hungary and Germany. Providing the driving force behind these are locally based companies.

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Close bonds

Italy

The relationship between Italy and Germany is a close and friendly one, so long as their national teams are not playing against each other. Besides sport, there are also strong cultural and economic ties. Germany is Italy‘s most important trading partner for both imports and exports. In return, the southern European nation is the fifth largest importer of goods to Germany.

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Traditional global player

The Netherlands

The Netherlands is traditionally interwoven into international economy and is considered a logistic hub, with Rotterdam offering the largest harbour in Europe. In addition, the Netherlands is the second-largest agricultural exporter worldwide after the USA. Its current economic growth is well over 1%.

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Constantly on the rise

Poland

Poland can boast significant economic growth of over 3% in recent years, with the service sector accounting for 63% of GDP, followed by industry at 34%. The country’s biggest trading partner is Germany with 27% of Polish exports and 23% of Polish imports.

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Stability in Europe’s north

Scandinavia

The Scandinavian economic area comprises Denmark, Norway, Sweden and Finland. GDP growth in all four countries has been strong in recent years. In the current year, experts expect growth of 1.1% (Finland) to 2.6% (Sweden). Norway still profits from its oil and gas reserves. All of these countries cultivate intensive business relationships with the rest of Europe but the only one to adopt the euro is Finland which joined the Eurozone in 1999.

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Swiss ingenuity

Switzerland

What do Victorinox, Ricola and Rolex all have in common? They are all Swiss inventions! As such they have not just sealed Switzerland’s reputation for innovation but also as a manufacturer of high-quality products for the world market. By the way, Switzerland’s most important trading partner is Germany. Good enough reason to present companies from the Alpine republic.

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Company of the month

Kleiderkreisel GmbH

Second-hand fashion is first choice

Sustainability is much more than just keeping our environment clean. Sustainability is a holistic lifestyle concept embracing values, attitude towards people and nature, and is relevant to all kinds of goods which are subject to a life cycle process. Sustainability is at the core of Kleiderkreisel GmbH based in Berlin. Its online marketplace for second-hand fashion has become a must not only for environmentally aware fashionistas, but also five million young women in Germany. CEO Justas Janauskas is convinced he can transfer this concept to new markets in the coming years.

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European Business

Health & Medical Special 1/2017

In this issue: Omnicell, Inc. - Automation for better care / Accuray Europe SAS - Improving life for cancer patients / Bomi Italia S.p.A. - Handling health around the world / Getinge Group - The human face of healthcare

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