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Russia continues to dominate our headlines. Western media represent Western views and report on the negative effects that we have to deal with on a social and economic level due to Russia's policy.
However, different perspectives and diverse experiences are also part of our everyday life. That is why we dare to change our perspective. We are not looking at Russia, but "from the inside out.
Global changes in the economy - also in Russia
In Russia, too, the economy is changing: sanctions, the loss of export and import business, and massive price increases demand change. New target markets are being sought. In particular, countries in the Asian region, including above all India and China, are coming into focus and becoming increasingly attractive.
But many skilled workers are also reorienting themselves. In a first wave, tens of thousands of IT workers have migrated to Cyprus, Georgia or Turkey, posing enormous challenges for the Russian technology sector. This "brain drain" is not only damaging the Russian IT sector, but will soon also affect the manufacturing industry, the service sector and the financial sector.
The "wait and see" strategy
With the beginning of the war, many international companies with activities in Russia were faced with the question of stopping their business in the country in the short term or at least largely withdrawing from the country. For many companies, "business as usual" was unthinkable due to the new situation.
A closer look at the international corporate landscape, however, shows that the starting position of the players and their resulting behavior is not quite so clear-cut. Companies with little business in Russia and a minimal investment ratio in Russia naturally found it easy to leave the country quickly. However, a considerable number of German companies had a significant presence in Russia and therefore found it difficult to leave the market. The experience of the last months showed accordingly that middle ways like a "management buy out" or a partial withdrawal of selected parts of the company were in demand.
Not all international activities on the Russian market are irrevocably discontinued. A return to the country is not completely ruled out for many companies.
For many, it will only be decided in the coming weeks and months how the future strategy will be shaped. Further developments in Russia itself, but also the emerging alternatives with new or additional markets, will play a decisive role here.
Looking to the future: economic opportunity or risk?
In order not to make any rash decisions and thus expose a company to a high risk, a sober view of the current situation is just as important as a look into the future. What consequences will European/German companies have to reckon with in Russia in the future? Which alternative markets are emerging and seem to become particularly attractive? What decisions do entrepreneurs face today, but also in a few months' time?
With our Russia: Impact Global" event series wawe enjoy the change of perspective: Our expert Christian Altmann, former Managing Director AHK Russia, St. Petersburg, Russia and Managing Director of Lufthansa AG at several locations in Asia, reports from his adopted home of St. Petersburg on current developments and the entrepreneurial mood in Russia. His contacts in the business community provide us with a realistic, transparent insight and show how differently local companies deal with the situation.
An open exchange among the participants offers the opportunity to learn from each other, to get to know further perspectives and to take away input for their own business activities. We cordially invite you to participate in one or the entire series of events. For more information on the individual events, which will take place digitally and are free of charge for you, click here.
Fact Sheet on the Current Situation in Russia
Skilled workers migration to Georgia, the appearance of new sourcing- and sales force from Turkey and Kazakhstan, a thin data base, and an uncertain view of the future of the company's own supply chain. - This is only part of the impact and challenges that companies are currently facing.
On August 31, 2022, the first of three events on the topic of Russia: Impact global took place. Together with entrepreneurs we talked about the current situation in Russia and about our own practical experiences. Many thanks to all participants for the interesting exchange!
If you were unable to attend and are still interested in the latest figures and data, we will be happy to provide you with a fact sheet. Please send us a message for this purpose: firstname.lastname@example.org
Registration for the event series
Our event series takes place digitally and is free of charge for you. Use the registration form to register for one or directly for all events.
The access link will be sent shortly before the respective event. If you have any questions in advance, please contact our team: email@example.com