Business Leaders Outlook 2024 Germany
Business Leaders Outlook 2024 Germany

Read the Germany report


A majority of business leaders across Germany are optimistic about the national economy, maintaining similar levels over the past four years. According to our Business Leaders Outlook survey, 59% of executives have a positive outlook about the German economy—a 5-point uptick from last year—while aware of a challenging economic landscape ahead.

As it gets closer to home, 70% of leaders are optimistic about their industry’s performance this year, and 81% are optimistic about their company’s performance in 2024, an improvement on last year’s numbers and more consistent with responses seen in 2021 and 2022.

Overwhelmingly, German businesses anticipate their companies will grow. Seventy-eight percent expect revenue and sales will beat their 2023 numbers, and 75% said profits will increase over the previous year. Inflation continues to put pressure on companies; 73% said their costs are rising, a 4-point increase compared to one year ago.

As policymakers try to curb inflation, German businesses are feeling the effects. Rising interest rates and uncertain economic conditions are among the most common business concerns.

As artificial intelligence and machine learning have rapidly entered the mainstream, German leaders are embracing the new technology—with a level of care. A commanding 82% of companies said they are using or considering AI tools, and 28% of leaders identified adoption of AI/machine learning as one of their business’s primary challenges.


Stefan Povaly, Head of Germany, Senior Country Officer, J.P. Morgan

Stefan Povaly

Head of Germany, Senior Country Officer

Bernhard Brinker, Head of Commercial Banking, DACH Region, J.P. Morgan

Bernhard Brinker

Head of Commercial Banking, DACH Region

Michele Iozzolino, Head of Investment Banking, Germany

Michele Iozzolino

Head of Investment Banking, Germany

Thorsten Zahn

Thorsten Zahn

Head of Equity Capital Markets, DACH Region

Alexander Voigt, Head of Corporate Debt Capital Markets, DACH Region

Alexander Voigt

Head of Investment Grade Finance, DACH Region and Infrastructure Debt Capital Markets Financing Lead, Europe

Viktoria Boecker, Head of Commercial Banking, Treasury Management, Germany, J.P. Morgan

Viktoria Boecker

Head of Commercial Banking Treasury Management, DACH Region

Caroline Pötsch-Hennig

Caroline Pötsch-Hennig

Head of Private Banking, Germany

About the survey

In its fourth year, the annual Germany Business Leaders Outlook survey is a snapshot capturing the concerns and expectations of senior business leaders at midsize companies with annual revenues generally ranging from €20 million and €2 billion.

This year, 251 respondents completed the online survey between November 16 and December 13, 2023. Results are within statistical parameters for validity; the error rate is plus or minus 6.0% at the 95% confidence interval.

JPMorgan Chase Bank, N.A. Member FDIC. Visit for disclosures and disclaimers related to this content.