Huawei created more than 220 thousand jobs in Europe last year and paid billions of euros in taxes

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Huawei created more than 220 thousand jobs in Europe last year and paid billions of euros in taxes

Analysts from Oxford Economics published a report entitled “Huawei’s Impact on the European Economy.” It provides an insight into the contribution of the telecommunications giant to the region’s economy. According to published data, Huawei created 224,300 jobs in Europe in 2019, and paid taxes totaling € 6.6 billion. During the same period, Huawei’s contribution to European GDP is estimated at € 16.4 billion.

Huawei

The report also shows that Huawei is playing an active role in the research area across Europe. In the rating of industrial investments of the European Union for 2019, the Chinese company took fifth place in the world in terms of the number of funds invested in research and development (R&D). In addition, data from the European Patent Office indicate that Huawei was the leader in the number of patent applications filed in 2019.  

“ Investments in research and development like those made by Huawei are critical to the overall increase in the productive capacity of the European economy,” said Oxford Economics analyst Pete Collings.

Abraham Liu, Vice President of Huawei Technologies in Europe, announced that the company’s direct contribution to European GDP in 2019 was € 2.8 billion, which means an average annual growth of 11.4%. “ In this challenging year, Huawei has ensured a stable and secure network to help people work and learn online. Huawei has been in Europe for 20 years and works hard to deeply integrate and promote the industry. In the future, we will continue to work with our partners to overcome new challenges, ”said Mr. Liu.

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