German-Ukrainian Business Outlook 2026

Companies have learnt to operate under wartime conditions. 80% of companies rate their business situation in Ukraine as satisfactory or better. This is the result of the survey we conducted with KPMG Germany, covering more than 100 companies operating in Ukraine.

• Investment: Just under two-thirds (63%) plan to increase investment once the war ends
• Commitment: 38% intend to expand their activities in Ukraine regardless of how the war unfolds
• Labour market: 47% of companies plan to increase their workforce
• Business opportunities: Companies see market potential (54%), a skilled workforce (50%) and low labour costs (38%)
• Challenges: War-related risks (56%), security risks for staff (40%), security of energy supply (32%) and corruption (32%) are key issues

After more than four years, the war has become just one of many constraints for businesses. The economy continues to grow and create opportunities. Businesses above all need reliable framework conditions, effective risk mitigation instruments and suitable financing options to support further engagement in Ukraine.

Read the full survey results here: