Eurasia's megamarkets EU Business

Almost one-third of the Fortune Global 500 companies are headquartered in the EU. Family-held companies form the backbone of the EU economy; they represent 60% of enterprise turnover, 90% of employment, and 50% of export earnings. The EU has the largest number of medium-sized technology leaders. Cultural industries contribute more (2.6%) toward the economy in Europe than, for example, the food (1.9%) or chemical (2.3%) industries. The agro-food industry accounts for: 280 000 companies (>90% are SMEs), 4 million people employed, around € 800 billion turnover. Modern biotechnology generates almost 2% of EU gross value added. In industrial biotech the EU produces about 75% of the world’s enzymes. The EU’s eco-industry (pollution management, renewable energy, resource management) is the biggest employer. Its turnover in 2007 was € 270 billion. Virtually all luxury goods makers hail from Europe. EU attracts many students and workers from the emerging economies of Africa, Asia, and Latin America