Money Buzz! Europa

Tag: europe

  • European Union states exported almost 1.3 million bicycles in 2020

    European Union states exported almost 1.3 million bicycles in 2020

    In 2020, the European Union exported almost 1.3 million bicycles and other cycles, worth a total of €471 million, to countries outside of the EU, Eurostat reports.

    Over the same period, the EU imported almost 5 million bicycles, worth €930 million, from countries outside its borders.

    Compared with 2019, exports of bicycles and other cycles increased by 35% in 2020 in numbers, while imports declined by 3%.

    273.900 electric bicycles worth €427 million were exported by the EU in 2020. Meanwhile, the EU imported 839 100 electric bicycles, worth €721 million, from other countries.

    Compared with 2019, exports of electric bicycles increased by 43% in 2020 in numbers, while imports of electric bicycles increased by 19%.

    In 2020,UK was the main destination for EU exports of bicycles (34% of total extra-EU bicycle exports), followed by Switzerland (13%), Brazil (9%), Turkey (5%) and Uzbekistan (4%). 

    Imports of bicycles from non-EU countries came mainly from Cambodia (24% of total extra-EU bicycle imports), China (17%), Taiwan (11%), Bangladesh (8 %), Turkey (7%), Philippines (6%) and Sri Lanka (5%). 

  • European Union boasts more than 80.000 startups

    European Union boasts more than 80.000 startups

    EU27 boasts more than 80.000 startups, of which 51 are unicorns. The investments raised by European startups totalled 41 billion US dollars in 2020, up from USD 36,6 billion US in 2019. 

    It has been reported that during Q1 2021 27 innovative European companies got a valuation of more than 1 billion US dollars, based on their latest funding round.

    However, a closer look reveals that only 7 of them are indeed present in the EU27 and committed to remain there after the funding round, which paints a much bleaker picture.

    In the same period, the US produced 67 new unicorns.

  • Europeans have postponed their plans to buy a new car due to Covid-19

    Europeans have postponed their plans to buy a new car due to Covid-19

    Europeans have postponed their plans to buy a new car and their interest in engines with alternative propulsion systems is temporarily declining, Deloitte reports.

    Among the European countries, Italy has the highest percentage of those who postponed the purchase of a new car due to the pandemic (32%), followed by Spain (29%), UK (20%) and France (17%).

    Regarding the preferred type of engine, in Italy, a country leader in Europe last year in terms of interest in cars equipped with alternative powertrain technology (electric or hybrid), the percentage increased from 58% to 61% this year.

    Spain is in a similar situation (62% prefer alternative systems and 34% the classic ones).

    In contrast, in Germany, the interest in clean cars has fallen from 51% in 2020 to 41% in 2021.

    In other European countries, too, consumers’ preference now leans more towards cars with conventional engines – Belgium (61%), Austria (58%), United Kingdom (54%).

    When considering buying a new car, consumers put safety first

    Thus, Belgians, Germans an Austrians are the first who want to be equipped with a blind spot alert system (71%, 65% and 66% respectively)

    Meanwhile Spanish, Italians and French are more interested in the automatic emergency braking system (84%, 83%, and 76%, respectively).

  • Additional 8.6 million sq m of warehouse space needed in Europe

    Additional 8.6 million sq m of warehouse space needed in Europe

    According to a report from Savills, an additional 8.6m sq m of warehouse space is required by parcel companies in Europe by 2025 to keep up with growing e-commerce demand.

    A report from Effigy Consulting shows that a total of 12.3 billion parcels were delivered in Europe during 2019.

    Applying data from OFCOM’s parcel delivery, which shows an annualized growth of 9.1% in the number of UK parcels, the next five years in Europe will require a significant development pipeline.

    Regarding the needed pipeline for Europe, assuming that 20% of goods bought online are returned over this period.

    Thus, an estimated 1.7m sqm of this space will be required to accommodate and process returns from parcel delivery companies.

  • For the first time in history, China overtook the US as the Euro Area’s top trading partner

    For the first time in history, China overtook the US as the Euro Area’s top trading partner

    According to the research data analyzed and published by Comprar Acciones, Chinese imports from the EA rose by 5.6% and exports increased by 2.2% in 2020.

    US imports, on the other hand, plummeted 13.2% as exports fell by 8.2%.

    Based on IMF projections, China’s GDP is set to grow by 8.1% in 2021 following its 2.3% growth in 2020. By 2022, the rate will slow down to 5.6%.

    In 2020, Euro Area exported goods were worth €2.13 trillion to the rest of the world, a 9.2% decline from 2019.

    Euro Zone imports fell by 10.8% to €1.89 trillion during the period, while Intra-Euro area trade fell by 8.9%.

    However, there was a slight recovery in December 2020, with exports up by 2.3%, imports down by 1.3% and Intra-Euro trade up by 0.9%.

    India is expected to have the highest GDP growth in 2021 at 11.5%, following an 8% decline in 2020. In the Euro area, Spain is expected to have the highest growth in 2021 at 5.9%.

    The UK is expected to grow by 4.5% after its massive 10% decline in 2020. Its 2020 GDP contraction was twice the 2009 fall and worse than the 1921 drop of 9.7%.

    According to the US government’s preliminary reports, its GDP fell by 2.3% in 2020 to $20.93 trillion. Meanwhile, China grew its GDP to $14.7 trillion (101.6 trillion yuan).

    That narrowed the gap between the two powerful countries to $6.2 trillion, compared to $7.1 trillion in 2019.

    However, China’s per capita GDP was $11,000 in 2020. Comparatively, the US had more than five times that total, at $63,200.

  • Erste Group expects an economic upturn for CEE countries in 2021

    Erste Group expects an economic upturn for CEE countries in 2021

    The corona pandemic caused the CEE economies to enter into recession in 2020, although that economic contraction has turned out to be less severe than had been originally assumed.

    While the impact on Serbia was comparatively mild with a GDP decline of -1.1% in 2020, the Croatian economy plunged by -8.5% compared with 2019.

    In Austria, the GDP decline in the past year was also comparatively strong at -7.2%.

    According to preliminary data, the GDP downturn in 2020 amounted to -5.6% in the Czech Republic, -5.2% in Slovakia, -5.1% in Hungary and -3.9% in Romania.

    Erste Group sees a turnaround in 2021, with the strongest GDP growth expected in Hungary (+5.5%) and Serbia (+5.0%).

    The economies of Croatia, Romania and Slovakia should all also grow by more than 4%, with the Czech Republic very close behind with an expected rise of 3.9%.

    The GDP dynamic that some CEE countries evidenced in the final quarter of 2020 gives reason for optimism: the Hungarian, Slovak and Romanian economies unexpectedly posted growth in Q4 2020 compared with the preceding quarter.

  • When the European hotel industry will recover from the impact of Covid-19

    When the European hotel industry will recover from the impact of Covid-19

    The current disruption of the European hotel industry will continue until mid-2021 and the recovery period will be significantly longer.

    51% of hospitality owners, lenders, developers and investors expect to reach again the 2019 performance levels in 2023 and 20% believe it will not be until 2024 and beyond, according to the latest edition of Deloitte European Hotel Industry Survey.

    In addition to the disruption caused by the COVID-19 pandemic, the European hotel industry needs to tackle other risk factors, the study shows, such as demand fluctuations (72% of the European respondents) and the lack of economic growth (60%).

    Additionally, the UK respondents (40%) mentioned Brexit as a key risk for the local hotel industry, the study shows.

    Amsterdam, London and Paris remain the most favorable European cities to investments

    Even if the hotel industry has seen a decline in investment appeal in the context of the health crisis, with a total decrease of 25% in 2020 compared to the previous year, the most favorable European cities to investments in 2021 remain Amsterdam, London and Paris.

    Amsterdam, which has led the ranking for four years, continues to be the most attractive city for hotel investments, followed by London and Paris, while Berlin leaps ahead to the fourth position from the 16th in the previous year.

    In addition, the survey highlights that serviced apartments – fully furnished apartments available for short and long-term stay, providing amenities similar to hotels – become the most attractive European asset in which to invest in 2021, due to positive demand fundamentals and leaner costs.

    In terms of sources of equity capital for hotel acquisitions, private equity investments is predicted to remain the preferred one, as respondents sentiment almost doubled in 2020, with an increase of 22% compared to the previous year.

    At the opposite side, the interest in acquisition of the institutional investors and the real estate funds might register a moderation in 2021, as the demand from them was down by 9% and 10% points respectively in 2020 compared to 2019.

    The study also emphasizes that senior bank lending is expected to remain the most common source of debt financing in the European hotel market, according to two-thirds (66%) of the respondents, followed by the real estate investment funds (40%) and distressed debt funds (36%).

  • Braga (Portugal) is the European Best Destination in 2021

    Braga (Portugal) is the European Best Destination in 2021

    Braga collected 109,902 votes, 28,8% of votes from Portugal and 71,2% of votes from the rest of the world.

    Top 3 is completed by Rome and Cavtat, a Croatian Sustainable Destination awarded by the European Commission, for whom voted 1 traveler on 10.

    612,609 travelers from 192 countries around the world voted this year for the European Best Destinations competition. 61% of votes were from Europe, 39% from outside Europe.

    Interesting, Kefalonia is the Greek Island that collected the highest number of votes since the creation of the competition.

    The favorite destinations for American travelers are Rome, Braga, Cavtat, Paris, and Sibiu.

    Chinese travelers prefer Paris, Rome, Florence, Ghent, Kotor and UK travelers are enjoying Braga, Florence, Rome, Cavtat, Sibiu, and Ghent.

    Tourism growth in the promoted destinations is on average +15%

    European Best Destinations competition have an impact in ”real life” with significant growth of tourists for the top destinations.

    It was recorded a + 17% growth of tourism for Porto rewarded in 2017, + 13% for Bordeaux rewarded in 2015, + 25% for Zadar rewarded in 2016, +41% for Zagreb, European Best Christmas Market 2016-2017-2018, +18% for Budapest awarded the title of European Best Destination in 2019.

  • Turkey sold electric bicycles to 43 countries last year

    Turkey sold electric bicycles to 43 countries last year

    Foreign trade for electric bicycles made in Turkey has quadrupled in 2020 compared to 2019, with exports reaching $ 39.2 million, Daily Sabah reports.

    In 2020, exports increased mainly due to increased demand in Europe.

    The biggest demand came from Finland, which imported $ 9.6 million worth of electric bicycles, Italy ($ 7.9 million) and the Netherlands ($ 7.4 million).

    Sales of electric bicycles to the European Union are growing every year, said Anil Shakrak, head of Accell Bicycle, a company that produces about 250,000 bicycles and exports 70 percent of its production.

    He explained that the share of electric bicycles in total bicycle exports rose to 42%.

  • 11.9% of total passenger car sales across the EU last year were hybrid electric vehicles

    11.9% of total passenger car sales across the EU last year were hybrid electric vehicles

    In 2020, hybrid electric vehicles made up 11.9% of total passenger car sales across the EU, up from 5.7% in 2019, ACEA reports.

    Electrically-chargeable vehicles saw a similar surge in demand last year, accounting for 10.5% of all new car registrations in the European Union, compared to a 3.0% market share the year before.

    Even more, in the fourth quarter of 2020, nearly one in six passenger cars registered in the European Union was an electrically-chargeable vehicle (16.5%).

    Stimulus packages introduced by governments to boost demand to stimulate alternatively-powered vehicles in particular, further driving demand for low and zero-emission cars.

    Although the overall decline of 3 million units in car registrations as a result of COVID-19 hit diesel and petrol-powered vehicles the hardest, conventional fuel types still dominated EU car sales in terms of market share (75.5%) in 2020.

  • Douglas to close around 500 of its 2,400 European stores

    Douglas to close around 500 of its 2,400 European stores

    Out of 2,400 European stores, a total of around 500 is to be closed, the majority of them in Southern Europe and about 60 of the circa 430 stores in Germany.

    Douglas has commissioned a transfer agency to support the circa 600 affected store employees in Germany (out of a total of more than 5,200) in their professional reorientation.

    Additionally, the affected employees will be offered severance payments above the industry norm.

    Douglas generated sales of 822 million euros in the 2019/20 financial year (up to the end of September), following a significant 40.6 percent increase in e-commerce.

    Due to this, Douglas has generated sales of 3.2 billion euros – just 6.4 percent short of last year’s record figure of 3.5 billion euros – despite a COVID-induced slump in its brick-and-mortar business after months-long lockdowns.

    Operating profit (Adjusted EBITDA) declined by 16.7 percent year-on-year to 292 million euros. 

  • In Europe we Trust. Europeans believe the US is in decline and can’t stage a comeback

    In Europe we Trust. Europeans believe the US is in decline and can’t stage a comeback

    While most Europeans rejoiced at Joe Biden’s victory in the November US presidential election, few are confident that the United States will stage a comeback as the pre-eminent global player under his leadership.

    Even more, a majority of Germans today agree that after voting for Trump in 2016, Americans can’t be trusted, and across Europe, more respondents agree than disagree with this statement.  

    This shift translates into a very limited willingness of Europeans to back the US in potential international disagreements.

    For example, half or more of the public in all 11 European countries polled hold the view that their government should be neutral in a conflict between the US and China, and, in no surveyed country, would more than 40% want to take Washington’s side against Russia.

    There is scepticism in Europe on whether Biden can arrest the decline of the United States on the global stage

    Across the eleven surveyed countries, a majority (51%) does not subscribe to a view that, under Biden, the US is likely to repair its internal divisions and invest in solving international issues such as climate change, peace in the Middle East, relations with China, and European security.

    There is also a strong sense among Europeans that China will overtake the US as the world’s leading superpower within the next decade – an opinion that is held widely across surveyed countries, including in Spain (79%), Portugal (72%), Italy (72%) and France (63%).

    The legacy of the Trump administration has undermined trust in the United States 

    Almost a third (32%) of all respondents to ECFR’s poll agree that, after voting for Trump in 2016, Americans cannot be trusted.

    Most strikingly, 53% of German respondents hold this view – making them clear outliers on this point.

    Only in Hungary and Poland do significantly more people disagree with the statement than agree. 

    Very few Europeans believe the US would intervene on their behalf in the event of a military crisis

    Just 10% of those polled view the US as a ”reliable” security partner who will always protect Europe, while at least 60% of respondents in every country polled – and 67% across all the countries – feel their country cannot depend on US support in the event of a major crisis.

    Divisions over America in Europe have changed and have a lot to do with whether people feel the EU, USA or China are rising or declining.

    In Europe we Trust

    The study identified four new geopolitical tribes (”In Europe we Trust”, the biggest with 35% of respondents); ”In Decline We Trust”, second biggest with 29%; ”In the West We Trust” 20% and ”In America we Trust” with only 9%.

    This are the key finding of a major pan-European survey of more than 15,000 people in eleven countries, published today by the European Council on Foreign Relations (ECFR).

    The survey was conducted in November and December 2020 by Datapraxis and YouGov.