Survey Shows Tough Economic Times for Half of Thuringians
In a recent survey, it was revealed that over half of Thuringians have witnessed a worsening economic situation over the past four years. Around 36% reported no change, while 9% even claimed an improvement. These findings come from a survey conducted by the Insa Institute on behalf of the family business lobby group.
Both opinions were nearly even on whether Thuringia is a favorable location for raising a young family. 34% responded positively, whereas 34% expressed negative sentiments. A mere 7% consider Thuringia an excellent place for starting a family, while 11% view it as unfavorable.
Interestingly, the thriving concept of start-ups and companies relocating to Thuringia found support from 73% of respondents. However, 11% did not agree, while 13% remained undecided.
Colette Boos-John, chairman of the family business association in Thuringia, viewed the 50% worsening economic situation as a distressing figure for the region as a business location. She attributed the situation to more than just the pandemic or the fallout from the conflict in Ukraine. Instead, she slammed the "inadequate economic policy" of the red-red-green state government.
Boos-John emphasized the importance of making Thuringia significantly more attractive considering the high energy costs and bleak economic outlook. She proposed practical initiatives, such as reducing bureaucracy and narrowing the skills gap, to entice businesses. A well-established infrastructure, efficient administration, and an ample supply of skilled workers are the keys to persuading companies to settle long-term in the region.
Furthermore, Boos-John expressed concern about the potential exodus of young and motivated skilled workers and employees should 45% of the population view Thuringia as unattractive. She announced plans for a discussion with entrepreneurs, citizens, and politicians on Monday evening in Walschleben near Erfurt. The family business association, representing over 180,000 family businesses and eight million employees in Germany, intends to serve as a political lobby for more favorable business conditions.
To better understand the measures Thuringia could implement to improve as a business location and address its economic struggles and potential skilled worker exodus, consider these suggestions:
- Simplify Recognition of Foreign Qualifications: Streamline the recognition of foreign qualifications to attract skilled professionals from various nations.
- Targeted Visa Structure: Design a structured visa system to facilitate the entry of skilled workers from other countries, focusing on high-demand fields.
- Investment in Training Programs: Continue and expand vocational training programs to prepare experts for various technical roles in various industries.
- Improve Working Conditions: Offer desirable working conditions, including competitive salaries, benefits, and excellent work environments.
- Enhance Quality of Life: Bolster the general quality of life in Thuringia through infrastructure, education, and community development.
- Internationalization: Encourage cultural diversity within companies by recruiting and integrating workers from various backgrounds.
- Policy Support: Encourage federal and state policies to back Thuringian businesses with incentives, subsidies, and other economic assistance.
- Address Wage Inequality: Implement measures to decrease wage disparities, such as fair pay practices and gender wage gap reduction, in companies engaged in individual wage negotiations.
By implementing these measures, Thuringia can transform into a more appealing business location and tackle its economic difficulties and potential skilled worker exit.
Sources: [1] Insa Institute [2] Reuters
