Poland Recognized as one of the Business-friendly Places by the Recent Analytics
Poland as the sixth-largest economy in the EU and the largest in Eastern Europe is recognized as one of the most reliable and friendly places for doing business.
The Polish Investment and Trade Agency emphasizes that the country is the CEE regional leader and investors are attracted because it has been among the most economically stable and fastest-growing countries for years. According to the Business-Friendly Reception Index, which is part of the Future of Emerging Europe program, the Polish city of Łódź has been named the most attractive city for business in Central and Eastern Europe, surpassing Prague, Budapest, and even the capital Warsaw. It’s also worth mentioning, that earlier, in 2019, the city had received the highest score in the economic potential category.
Meanwhile, Startup Poland, the largest independent technology think tank in Central and Eastern Europe, notes that despite the pandemic, the start-up environment in the country is dynamic. According to the Polish Startups 2020 report, 56% of respondents of the latest survey had found new customers and 48% reported better sales.
As for the real estate investment markets, Poland has been one of the most stimulating in the past five years. In spite of the momentary disruption caused by the Covid-19 pandemic, the total investment volume in Polish commercial real estate amounted to $8.3 billion in 2020, exceeding the annual values before 2018. This unusual number was mainly due to the increased international investor appetite for Polish assets. Thanks to its strategic location, remarkable land, sea and air connectivity, lots of investors start to see Poland as a great location for logistics.
Moreover, there is good news on the overall economic front with the Polish economy projected to return to growth in the second quarter of 2021 following a rebound in consumer demand. This will be amplified by the gradual lifting of lockdown restrictions followed by the increased public confidence after Covid-19 vaccinations. According to the forecast of the National Bank of Poland, gross domestic product (GDP) is likely to expand by 4.1% this year. The growth in consumer and investment demand is backed by the assumption that the central bank’s interest rates will remain at the current record level.
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