You are here: Home > articles > Forex > Reshoring of companies in eurozone rises despite economic downturn
Reshoring of companies in eurozone rises despite economic downturn
November 3, 2014 6:04 amVideo
Latest News
- Analysis of EUR/USD pair on May 31st. EU inflation supports the euro May 31, 2024
- Analysis of GBP/USD pair on May 31st. The PCE index also works against the dollar May 31, 2024
- USD/JPY: Simple trading tips for novice traders on May 31st (US session) May 31, 2024
- GBP/USD: Simple trading tips for novice traders on May 31st (US session) May 31, 2024
- Technical Analysis – US 100 stock index might lose more in short-term May 31, 2024
- EUR/USD: Simple trading tips for novice traders on May 31st (US session) May 31, 2024
- GBP/USD: trading plan for the US session on May 31st (analysis of morning deals). The pound was bought in the area of 1.2706 May 31, 2024
- EUR/USD: trading plan for the US session on May 31st (analysis of morning deals). The euro continued to grow May 31, 2024
- EUR/USD. May 31st. The economic data stopped the bears again May 31, 2024
- GBP/USD. May 31st. Bears remain weak and the pound rises alongside euro May 31, 2024
- Weekly Forex Outlook: 31/05/2024 – ECB cut might get eclipsed by BoC surprise and NFP May 31, 2024
- Cryptos consolidate as spot Ether ETF excitement fades – Crypto News May 31, 2024
- Technical Analysis – USDJPY may retest 157.70 May 31, 2024
- June forecast: Dollar index poised for growth May 31, 2024
- Week Ahead – ECB rate cut might get eclipsed by BoC surprise and NFP report May 31, 2024
- Forex forecast 05/31/2024: EUR/USD, GBP/USD, USD/JPY and Bitcoin from Sebastian Seliga May 31, 2024
- EUR/USD and GBP/USD: Technical analysis on May 31 May 31, 2024
- Market Comment – US and Eurozone inflation data in focus May 31, 2024
- Technical Analysis – EURGBP stuck around the crucial 0.8500 floor May 31, 2024
- Technical Analysis – USDCAD meets uptrend line again and again May 31, 2024
A report has shown that eurozone companies have been reshoring more of their operations during the past year with a sizeable chunk intending to do so again in the near future.
Based on the research conducted by the management consultancy firm PwC, almost two thirds of the 384 companies in the eurozone, excluding those in the financial sector, reshored part of their activities in the past twelve months, led by production operations. Nearly half of those surveyed reported plans to do so again within the next year.
Of those who engaged in reshoring, companies based in Italy were in the lead with 44 of them having already brought back a portion of its operations to the country from overseas. Businesses in Ireland came in second at 42, while Spanish and German firms came in next with 32 and 30, respectively.
Chief economist for PwC John Hawksworth attributed the trend to multiple factors including the narrowing wage gap between emerging markets such as China and the eurozone. He claimed that an increase in the costs for labor and transport contributed more to reshoring than fluctuations in exchange rates.
He added that, “European economies have seen some improvement in competitiveness but bigger changes are in the costs of potential suppliers in Asia.”
According to the report, 230 companies reshored their operations, particularly those for production, legal, information technology, and tax.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: