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Single Market adds 3.6 million jobs annuallyWednesday, February 22, 2017
A new study finds that the Single Market adds 3.6 million jobs and boosts the EU’s GDP by 1.7% or approximately €250 billion annually. The study which was commissioned by the American Chamber of Commerce to the European Union (AmCham EU) features a country-by-country analysis revealing that each EU Member State has benefited from the Single Market. It also shows that increasing trade in services among EU countries and breaking down remaining barriers would bring additional gains to citizens and businesses.
The Single Market is under pressure like never before. Recent events and broader trends such as the rise of populism, the re-introduction of internal border controls, the results of the UK referendum and the spread of anti-EU sentiment have put the integrity of the Single Market into question. Citizens and businesses risk losing the gains from the last 25 years from Single Market integration.
Susan Danger, CEO, AmCham EU said ‘At testing times, it is important to remember how far we have come together. The Single Market is a European success story that needs to be told. It is our collective responsibility’. She further said: ‘The Single Market needs stronger and louder champions and we hope that this study provides a basis for dialogue on the challenges it faces’.
Beyond the economic analysis, The EU Single Market: Impact on Member States also provides five concrete stories that highlight how the Single Market has transformed the way we live, work, travel and do business in Europe.
Download the study and supporting materials