Economists say the Netherlands is not set for a double economic dip. They think Dutch companies will experience opportunities abroad and that the Netherlands itself will prove a good place for foreign firms to invest.

In its New Year’s forecast, Netherlands-based ING banking group says Dutch businesses are set to grow. It advises them to seize their chances abroad, saying that certain countries are well ahead of the pack.

Upwardly mobile
Just about two years ago, it looked as though the economic system was about to collapse. At the highpoint of the crisis, people were even worried that ATMs might stop issuing money, because there was simply none of the stuff left. That would have heralded real economic failure, or something even worse... But now, ING’s economist Rob Rühl says we’re upwardly mobile again.

“The climate is looking very good for Dutch entrepreneurs who are willing to do business abroad. The economy in neighbouring Germany is showing attractive growth. That’s why Germans are spending more at home. We can profit from this by offering them our goods.”

Mr Rühl has his gaze fixed mostly eastwards. Poland is also a good bet for Dutch business. It has shown no recession in any 3-month period over the last few years, coming through the crisis untouched. The same is true for a number of Asian countries, such as Vietnam, Indonesia and South Korea.

Next eleven
The Dutch entrepreneur will find countries with large populations especially attractive. As long, that is, as their economies are growing so as to provide their populations with money to spend. ING shares the enthusiasm of the Goldman Sachs banking group for the ‘next eleven’: Bangladesh, Egypt, Indonesia, Iran, Mexico, Nigeria, Pakistan, the Philippines, South Korea, Turkey and Vietnam.

Figures detailing Dutch industrial production bear out how important foreign growth is for the Netherlands’ economy. Any increase in Dutch industrial production is largely thanks to demand from abroad, especially from North America and China.

Stable
The economist Henk Jager from the University of Amsterdam also sees opportunities in East Asia and Latin America. It’s become safer to invest in these regions of the world.

“The economic politics of these countries has become extremely stable over the past years. That’s the opposite of the erratic 1980s and 1990s, when inflation would occasionally peak and result in political unrest. All that’s now in the past.”

Low euro
Mr Jager also sees reason for foreign companies to invest in the Netherlands. Dutch union moderation means that wages here have not risen explosively. The Netherlands and Germany are both positioned well to take advantage of the international economic upturn. The financial problems being suffered by southern European countries and Ireland keep the euro exchange rate down and that can only be good for Dutch and German exports.