The effects of the COVID-19 pandemic around the world are increasingly being felt.
Faced with this great uncertainty about the evolution of the world economy, the AHK Tunisia conducted a survey involving 111 companies, members in Tunisia, mostly working in the industrial sector.
This survey is part of the “AHK World Business Outlook” conducted by the global network of AHKs.
Even if the majority of the companies surveyed remain relatively confident about their business situation (46% even expect growth in the next 12 months) 40% believe that the economic situation will deteriorate next year.
Survey participants were less optimistic on the issue of economic development, as the instability of the economic policy framework and declining demand for products and services are the major threats to economic development for the majority of companies.
In order to counter the effects of the Coronavirus crisis, 51% of companies plan to reduce their costs. Only 66% are able to keep the same employment plan.
Moreover, 60% of companies plan to delay their investment plan while 26.4% intend to invest less in their international locations in the coming period.
With regard to the repercussions of the pandemic, 78% of companies believe that the travel restriction weighs heavily on their business. 59% of the companies surveyed even feel that they need support for business travel, particularly to Germany.
For more than 84%, Germany is a favored region to look for new suppliers. 59% of companies are even thinking of setting up in Germany.
For these companies, even a relocation of sites or their own production seems possible due to the current crisis.
Given the many economic difficulties and government challenges that need to be overcome, 70% of the companies surveyed remain skeptical about a rapid economic recovery and do not expect a return to normal until 2022.
<However, it should be noted that among the measures planned to combat the repercussions of COVID-19 on their companies, digitization is a major asset.
Therefore, 57% of the companies plan to strengthen digitization within their company.