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Publication information
14 Oct 2025
ISBN: 978-92-861-6006-6 (PDF/EN)
DOI: 10.2867/4791610
- EIBIS
- Economics
Related tags
Description
The EIB Investment Survey is conducted annually and includes data from approximately 13 000 firms in all EU Member States plus a sample from the United States. The survey provides information on firm characteristics and performance, past investment activities and future plans, sources of finance and the financing issues businesses face.
Key takeaways
Investment growth is waning
Businesses are finding it difficult to plan. They are trying to understand the ultimate effect of US tariffs and potentially profound geopolitical changes. Those pressures could have depressed investment, but the EIB Investment Survey for 2025 finds that investment is showing remarkable resilience so far – although companies are more cautious about the economic outlook and the political and regulatory environment.
The European Investment Bank Investment Survey finds that 86% of EU firms still plan to invest, compared with 87% in the 2024 survey, although their appetite has somewhat weakened. A marginally higher share of EU firms still expects to increase rather than decrease investment in 2025, and investment growth is waning. The pattern in the United States is broadly similar.
Investment activities differ on the two sides of the Atlantic. While EU firms are more likely to invest in replacing their productive assets, US firms are looking to expand production capacity. In the European Union, firms devoted a significant portion of their investment (35%) to intangible assets such as research and development, training, and software), investing less in land, buildings, and infrastructure than US firms (17% vs. 22%).
Over the next three years, EU firms will continue to prioritise investment that replaces rather than expands capacity, while US firms will develop new production capacity.
Upheaval in global supply chains
EU firms are strongly integrated into global trade. This is particularly true for large firms and those in the manufacturing sector. They are worried about current geopolitical risks and trade tensions, although concerns about supply chain disruptions have eased. Companies are investing to make their supply chains more efficient and resilient, but they are not radically overhauling their approach. their strategy.
Only 7% of importing firms in the European Union have reduced their imports of goods and services, while 19% are diversifying or increasing the number of countries they import from.
Tariffs shook US firms more. They are more concerned about changes in customs and tariffs than EU firms (77% vs. 48%). US firms reacted to the new political pressures and tariffs by increasing inventories before prices rose, but also by replacing foreign suppliers with domestic ones and diversifying the countries they import from. In short, US firms are rethinking trade and globalisation.
Green transition: EU firms stay the course
EU firms appear more aware of the consequences of decarbonisation and the transition to green energy than their American counterparts. When considering transition risks, firms in Eastern Europe and some Central European countries are particularly aware of the associated risks, while firms in Northern Europe are more attuned to the opportunities.
- 36% of EU firms view the transition to stricter climate standards and regulations as a risk over the next five years, compared with 27% of US firms.
- 27% of EU firms see the transition as an opportunity, compared to 23% of US ones.
- Large firms are more likely than small and medium firms to view the transition as both a risk and an opportunity.
EU firms have been more proactive in reducing their greenhouse gas emissions. A higher share of them, 92%, have taken action to reduce those emissions. European firms are also more likely to invest in sustainable transport and renewable energy and other environmental measures, such as waste reduction, recycling and sustainable transport.
Overall, businesses are more aware of the physical risks associated with climate change and are slowly starting to act on climate adaptation. On both sides of the Atlantic, the share of firms faced with costs from extreme climate-related events is high: 68% in Europe, and 64% in the United States.
The share of firms acting to deal with physical risks has increased steadily and is relatively similar (55% in the United States vs. 53% in the European Union), however, US firms are more likely to have implemented adaptation strategies or investments. Investment in climate adaptation is generally on the rise.
US-EU digital gap closes
EU firms have accelerated their adoption of advanced digital technologies to the extent that they their adoption rate now matches those of US firms (77% vs. 78% for US firms). This trend is particularly strong in large firms and in the manufacturing sector. They are also adopting AI technologies quickly.
- A new question in this the EIBIS 2025 survey shows that the adoption rate of generative AI technology is roughly the same on both sides of the Atlantic, 37% in the European Union vs. 36% in the United States.
However, US firms that use big data or AI technologies tend to apply them across more business areas than their European counterparts. European firms thus still need to fully exploit the benefits that AI offers.
Other key takeaways
- The 2025 survey underlines the importance of simplifying regulation, procedures and market access in the European Union. Time spent meeting regulatory requirements is significant for EU firms, with the cost estimated to be 1.1% of turnover, and as much as to 1.8% among small and medium companies.
- Deepening the single market remains vital to enhancing the European Union’s competitiveness and to spurring faster growth. 62% of firms say the EU market is fragmented for their main product, the same as in 2024.
Individual country reports – coming soon
- EU overview
- Austria
- Belgium
- Bulgaria
- Croatia
- Cyprus
- Czechia
- Denmark
- Estonia
- Finland
- France
- Germany
- Greece
- Hungary
- Ireland
- Italy
- Latvia
- Lithuania
- Luxembourg
- Malta
- Netherlands
- Poland
- Portugal
- Romania
- Slovakia
- Slovenia
- Spain
- Sweden
All publications in this series
- EIB Investment Survey 2024: Austria overview
- EIB Investment Survey 2024: Belgium overview
- EIB Investment Survey 2024: Bulgaria overview
- EIB Investment Survey 2024: Croatia overview
- EIB Investment Survey 2024: Cyprus overview
- EIB Investment Survey 2024: Czechia overview
- EIB Investment Survey 2024: Denmark overview
- EIB Investment Survey 2024: Estonia overview
- EIB Investment Survey 2024: Finland overview
- EIB Investment Survey 2024: France overview
- EIB Investment Survey 2024: Germany overview
- EIB Investment Survey 2024: Greece overview
- EIB Investment Survey 2024: Hungary overview
- EIB Investment Survey 2024: Ireland overview
- EIB Investment Survey 2024: Latvia overview
- EIB Investment Survey 2024: Lithuania overview
- EIB Investment Survey 2024: Italy overview
- EIB Investment Survey 2024: Portugal overview
- EIB Investment Survey 2024: Poland overview
- EIB Investment Survey 2024: The Netherlands overview
- EIB Investment Survey 2024: Luxembourg overview
- EIB Investment Survey 2024: Malta overview
- EIB Investment Survey 2024: Romania overview
- EIB Investment Survey 2024: Slovakia overview
- EIB Investment Survey 2024: Slovenia overview
- EIB Investment Survey 2024: Spain overview
- EIB Investment Survey 2024: Sweden overview
- EIB Investment Survey 2024: United States overview
- EIB Investment Survey 2024: Central, Eastern and South-Eastern Europe (CESEE) overview
- EIB Investment Survey 2024 - European Union overview
- EIB Investment Survey 2023 - Denmark overview
- EIB Investment Survey 2023 - Croatia overview
- EIB Investment Survey 2023 - Greece overview
- EIB Investment Survey 2023 - United States overview
- EIB Investment Survey 2023 - Malta overview
- EIB Investment Survey 2023 - Poland overview
- EIB Investment Survey 2023 - Estonia overview
- EIB Investment Survey 2023 - Slovakia overview
- EIB Investment Survey 2023 - Latvia overview
- EIB Investment Survey 2023 - Bulgaria overview
- EIB Investment Survey 2023 - Cyprus overview
- EIB Investment Survey 2023 - Lithuania overview
- EIB Investment Survey 2023 - Hungary overview
- EIB Investment Survey 2023 - Sweden overview
- EIB Investment Survey 2023 - Portugal overview
- EIB Investment Survey 2023 - Slovenia overview
- EIB Investment Survey 2023 - Austria overview
- EIB Investment Survey 2023 - Finland overview
- EIB Investment Survey 2023 - Ireland overview
- EIB Investment Survey 2023 - Romania overview
- EIB Investment Survey 2023 - Czech Republic overview
- EIB Investment Survey 2023 - Spain overview
- EIB Investment Survey 2023 - France overview
- EIB Investment Survey 2023 - Italy overview
- EIB Investment Survey 2023 - Luxembourg overview
- EIB Investment Survey 2023 - Belgium overview
- EIB Investment Survey 2023 - Germany overview
- EIB Investment Survey 2023 - Netherlands overview
- EIB Investment Survey 2023 - CESEE overview
- EIB Investment Survey - European Union Overview
- The state of local infrastructure investment in Europe - EIB Municipalities Survey 2022-2023
- What drives firms' investment in climate action? Evidence from the 2022-2023 EIB Investment Survey
- Digitalisation in Europe 2022-2023: Evidence from the EIB Investment Survey
- EIB Investment Survey 2022 - Croatia overview
- EIB Investment Survey 2022 - Czech Republic overview
- EIB Investment Survey 2022 - Spain overview
- EIB Investment Survey 2022 - Greece overview
- EIB Investment Survey 2022 - Romania overview
- EIB Investment Survey 2022 - Denmark overview
- EIB Investment Survey 2022 - Finland overview
- EIB Investment Survey 2022 - Luxembourg overview
- EIB Investment Survey 2022 - Cyprus overview
- EIB Investment Survey 2022 - Bulgaria overview
- EIB Investment Survey 2022 - Austria overview
- EIB Investment Survey 2022 - Malta overview
- EIB Investment Survey 2022 - Latvia overview
- EIB Investment Survey 2022 - Poland overview
- EIB Investment Survey 2022 - USA overview
- EIB Investment Survey 2022 - Hungary overview
- EIB Investment Survey 2022 - Lithuania overview
- EIB Investment Survey 2022 - Ireland overview
- EIB Investment Survey 2022 - Sweden overview
- EIB Investment Survey 2022 - Slovenia overview
- EIB Investment Survey 2022 - Belgium overview
- EIB Investment Survey 2022 - Slovakia overview
- EIB Investment Survey 2022 - Estonia overview
- EIB Investment Survey 2022 - Netherlands overview
- EIB Investment Survey 2022 - Portugal overview
- EIB Investment Survey 2022 - CESEE overview
- Regional Cohesion in Europe 2021-2022
- What drives firms' investment in climate action?
- Digitalisation in Europe 2021-2022
- EIB Investment Survey 2021 - USA overview
- EIB Investment Survey 2021 - United Kingdom overview
- EIB Investment Survey 2021 - Sweden overview
- EIB Investment Survey 2021 - Spain overview
- EIB Investment Survey 2021 - Slovenia overview
- EIB Investment Survey 2021 - Slovakia overview
- EIB Investment Survey 2021 - Romania overview
- EIB Investment Survey 2021 - Portugal overview
- EIB Investment Survey 2021 - Poland overview
- EIB Investment Survey 2021 - Netherlands overview
- EIB Investment Survey 2021 - Malta overview
- EIB Investment Survey 2021 - Luxembourg overview
- EIB Investment Survey 2021 - Lithuania overview
- EIB Investment Survey 2021 - Latvia overview
- EIB Investment Survey 2021 - Italy overview
- EIB Investment Survey 2021 - Ireland overview
- EIB Investment Survey 2021 - Hungary overview
- EIB Investment Survey 2021 - Greece overview
- EIB Investment Survey 2021 - Germany overview
- EIB Investment Survey 2021 - France overview
- EIB Investment Survey 2021 - Finland overview
- EIB Investment Survey 2021 - Estonia overview
- EIB Investment Survey 2021 - Czech Republic overview
- EIB Investment Survey 2021 - Denmark overview
- EIB Investment Survey 2021 - Cyprus overview
- EIB Investment Survey 2021 - Croatia overview
- EIB Investment Survey 2021 - CESEE overview
- EIB Investment Survey 2021 - Bulgaria overview
- EIB Investment Survey 2021 - Belgium overview
- EIB Investment Survey 2021 - Austria overview
- EIB Investment Survey 2021 - EU overview
- Regional Cohesion in Europe 2020-2021
- European firms and climate change 2020/2021
- The state of local infrastructure investment in Europe
- Digitalisation in Europe 2020-2021
- EIBIS 2020 - EU overview
- EIBIS 2020 - Ireland overview
- EIBIS 2020 - Italy overview
- EIBIS 2020 - Latvia overview
- EIBIS 2020 - Lithuania overview
- EIBIS 2020 - Luxembourg overview
- EIBIS 2020 - Malta overview
- EIBIS 2020 - Netherlands overview
- EIBIS 2020 - Poland overview
- EIBIS 2020 - Portugal overview
- EIBIS 2020 - Romania overview
- EIBIS 2020 - Denmark overview
- EIBIS 2020 - Estonia overview
- EIBIS 2020 - Finland overview
- EIBIS 2020 - France overview
- EIBIS 2020 - Germany overview
- EIBIS 2020 - Greece overview
- EIBIS 2020 - Hungary overview
- EIBIS 2020 - Slovakia overview
- EIBIS 2020 - Slovenia overview
- EIBIS 2020 - Spain overview
- EIBIS 2020 - Sweden overview
- EIBIS 2020 - Czech Republic overview
- EIBIS 2020 - Cyprus overview
- EIBIS 2020 - CESEE overview
- EIBIS 2020 - Croatia overview
- EIBIS 2020 - Bulgaria overview
- EIBIS 2020 - Austria overview
- EIBIS 2020 - Belgium overview
- EIBIS 2020 - United Kingdom overview
- EIBIS 2020 - USA overview
- Going green
- Who is prepared for the new digital age? - Evidence from the EIB Investment Survey
- EIBIS 2019 - USA overview
- EIBIS 2019 - EU overview
- EIBIS 2019 - United Kingdom overview
- EIBIS 2019 - Sweden overview
- EIBIS 2019 - Spain overview
- EIBIS 2019 - Slovenia overview
- EIBIS 2019 - Slovakia overview
- EIBIS 2019 - Romania overview
- EIBIS 2019 - Portugal overview
- EIBIS 2019 - Poland overview
- EIBIS 2019 - Netherlands overview
- EIBIS 2019 - Malta overview
- EIBIS 2019 - Luxembourg overview
- EIBIS 2019 - Lithuania overview
- EIBIS 2019 - Latvia overview
- EIBIS 2019 - Italy overview
- EIBIS 2019 - Ireland overview
- EIBIS 2019 - Hungary overview
- EIBIS 2019 - Greece overview
- EIBIS 2019 - Germany overview
- EIBIS 2019 - France overview
- EIBIS 2019 - Finland overview
- EIBIS 2019 - Estonia overview
- EIBIS 2019 - Czech Republic overview
- EIBIS 2019 - Denmark overview
- EIBIS 2019 - Croatia overview
- EIBIS 2019 - Bulgaria overview
- EIBIS 2019 - Belgium overview
- EIBIS 2019 - Austria overview
- EIBIS 2019 - CESEE overview
- EIBIS 2019 - Cyprus overview
- EIBIS 2018 - CESEE overview
- EIBIS 2018 - Austria overview
- EIBIS 2018 - Belgium overview
- EIBIS 2018 - Bulgaria overview
- EIBIS 2018 - Croatia overview
- EIBIS 2018 - Cyprus overview
- EIBIS 2018 - Czech republic overview
- EIBIS 2018 - Denmark overview
- EIBIS 2018 - Estonia overview
- EIBIS 2018 - EU overview
- EIBIS 2018 - Finland overview
- EIBIS 2018 - France overview
- EIBIS 2018 - Germany overview
- EIBIS 2018 - Greece overview
- EIBIS 2018 - Hungary overview
- EIBIS 2018 - Ireland overview
- EIBIS 2018 - Italy overview
- EIBIS 2018 - Latvia overview
- EIBIS 2018 - Lithuania overview
- EIBIS 2018 - Luxembourg overview
- EIBIS 2018 - Malta overview
- EIBIS 2018 - Netherlands overview
- EIBIS 2018 - Poland overview
- EIBIS 2018 - Portugal overview
- EIBIS 2018 - Romania overview
- EIBIS 2018 - Slovakia overview
- EIBIS 2018 - Slovenia overview
- EIBIS 2018 - Spain overview
- EIBIS 2018 - Sweden overview
- EIBIS 2018 - United Kingdom overview
- EIBIS 2017 - Regional results
- EIBIS 2017 - CESEE overview
- EIBIS 2017 - EU overview
- EIBIS 2017 - Austria overview
- EIBIS 2017 - Belgium overview
- EIBIS 2017 - Bulgaria overview
- EIBIS 2017 - Croatia overview
- EIBIS 2017 - Cyprus overview
- EIBIS 2017 - Czech republic overview
- EIBIS 2017 - Denmark overview
- EIBIS 2017 - Estonia overview
- EIBIS 2017 - Finland overview
- EIBIS 2017 - France overview
- EIBIS 2017 - Germany overview
- EIBIS 2017 - Greece overview
- EIBIS 2017 - Hungary overview
- EIBIS 2017 - Ireland overview
- EIBIS 2017 - Italy overview
- EIBIS 2017 - Latvia overview
- EIBIS 2017 - Lithuania overview
- EIBIS 2017 - Luxembourg overview
- EIBIS 2017 - Malta overview
- EIBIS 2017 - Municipal Infrastructure
- EIBIS 2017 - Municipal Infrastructure: EU Overview
- EIBIS 2017 - Netherlands overview
- EIBIS 2017 - Poland overview
- EIBIS 2017 - Portugal overview
- EIBIS 2017 - Romania overview
- EIBIS 2017 - Slovakia overview
- EIBIS 2017 - Slovenia overview
- EIBIS 2017 - Spain overview
- EIBIS 2017 - Sweden overview
- EIBIS 2017 - United Kingdom overview
- EIBIS 2016 - Belgium overview
- EIBIS 2016 - Bulgaria overview
- EIBIS 2016 - CESEE overview
- EIBIS 2016 - Croatia overview
- EIBIS 2016 - Cyprus overview
- EIBIS 2016 - Czech republic overview
- EIBIS 2016 - Denmark overview
- EIBIS 2016 - Estonia overview
- EIBIS 2016 - EU overview
- EIBIS 2016 - Finland overview
- EIBIS 2016 - Germany overview
- EIBIS 2016 - Greece overview
- EIBIS 2016 - Hungary overview
- EIBIS 2016 - Ireland overview
- EIBIS 2016 - Latvia overview
- EIBIS 2016 - Lithuania overview
- EIBIS 2016 - Luxembourg overview
- EIBIS 2016 - Malta overview
- EIBIS 2016 - Netherlands overview
- EIBIS 2016 - Portugal overview
- EIBIS - Surveying Corporate Investment Activities, Needs and Financing in the EU - 2016/2017
- EIBIS 2016 - Romania overview
- EIBIS 2016 - Slovakia overview
- EIBIS 2016 - Slovenia overview
- EIBIS 2016 - Spain overview
- EIBIS 2016 - Sweden overview
- EIBIS 2016 - United Kingdom overview
- EIBIS 2016 - Italy overview
- EIBIS 2016 - Austria overview
- EIBIS 2016 - France overview
- EIBIS 2016 - Poland overview
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