EIB Investment Survey 2025 – European Union

About the EIB Investment Survey

The EIB Group Investment Survey (EIBIS), conducted annually since 2016, is a unique survey of some 13 000 firms across all EU Member States, with an additional sample from the United States. The survey collects data on firm characteristics and performance, past investment activities and future plans, sources of finance, financing issues and other challenges, such as climate change and digital transformation. The EIBIS uses a stratified sampling methodology and is representative across all 27 EU Member States and the United States, as well as across four categories of firm size (micro to large) and four main economic sectors (manufacturing, construction, services and infrastructure). The survey is designed to build a panel of observations, supporting the analysis of time-series data. Observations can also be linked back to data on firm balance sheets and profit and loss statements. Developed and managed by the EIB Economics Department, the survey is conducted in collaboration with Ipsos. More background and technical details can be found at www.eib.org/eibis.

Key messages

• The geopolitical context is slowing down investment expectations on both sides of the Atlantic, with a stronger impact of the tariff shock on US firms. Investment by EU companies is showing remarkable resilience, with 86% of them investing, albeit with more cautious expectations than in past years, due to extremely high global volatility, as well as the worsening political and regulatory environment and economic outlook.
• Nevertheless, a gap remains between firms on both sides of the Atlantic in terms of investment in capacity expansion, with US firms showing a greater ambition.
• EU firms are focusing on increasing their efficiency, diversification and supply chain security, while continuing to invest in digitalisation, energy efficiency and reducing CO2 emissions as drivers for future competitiveness.
• EU firms maintain a strong pace of investment in intangible assets, research, training, and adoption of digitalisation and artificial intelligence (AI), but there is still room to use these new technologies more systematically across business processes. Indeed, 81% of firms that use AI in the United States do so in at least two internal processes, vs. 55% of EU firms.
• Large firms and companies in the areas of manufacturing, infrastructure and services show more resilient investment, while those in the construction sector evince greater prudence.
• EU firms are more aware than US firms of the risks related to climate change and are staying the course with green investments, including in waste reduction, energy efficiency, sustainable transport, renewables and green innovation.
• Uncertainty, scarcity of skilled workers and energy costs continue to drag on EU firms. Market integration and simplification emerge as key drivers of upside opportunities.
• The share of finance-constrained firms has slightly decreased compared to previous years. Policy support, in the form of grants or finance on favourable conditions, reaches some 16% of European firms that invest. Notably, 61% of policy support in the European Union is targeted to specific policy objectives (41% supporting the green transition, 29% innovation).

View full report here.

Compliments of the European Investment Bank – a Platinum Member of the EACCNY