During the last 25 years the Polish economy has transformed drastically from decades of state control to privatization and market based competition. Due to these reforms polish GDP and living standards have risen significantly as the country continue to grow steadily year by year. Accession to the European Union in 2004 has confirmed and stimulated Polish ambition to compete with European most developed economies.
Poland has grown from 32% to 60% of the Western European Average GDP (EU-15). The annual GPD growth between 1991 – 2008 was an impressive 4.6%. This trend continued as Poland was the only country in the European Union to avoid recession during the financial crisis. These development have positioned Poland in becoming Europe’s new growth engine.
Doing Business in Poland
The big Polish domestic market with 38 million inhabitants with growing incomes has not been unnoticed. All known multinational companies are present in Poland with their factories, service centers and representatives. During the last couple of years also small and mediums sized enterprises have discovered Poland. However there are still many opportunities for foreign companies to do business in Poland.
Some industries are very fragmented and consolidation will need to take place in the coming years. Also the service industry has many opportunities for further professionalisation. Per industry sector we can provide you with specific information on current trends, developments and market players. Would you like to learn more about the possibilities of doing business in Poland? please contact our office to speak with one of our consultants.