In parallel with the surge in popularity of Polish cities for holidays and weekend breaks since EU membership in 2004 has come a steady rise in businesses choosing to invest in Poland.
Poland voted 77% vote in favour of joining the EU. This enthusiasm to move forward as a nation is reflected in its World Bank Ease of Doing Business report: 24th out of 190, having advanced from 25th the previous year. Bloomberg cites Poland as the best country to do business across eastern Europe and Central Asia because of its expanding consumer market and improving infrastructure.
The minimum wage in Poland, at 2,000 PLN/month (465 Euros) is three times lower than in the UK. This is reflected in the cost of living, significantly lower than in the UK. In fact, Poland’s main cities: Warsaw, Krakow, Gdansk, Poznan & Wroclaw, occupy slots between 74th and 82nd (out of 97) cheapest places to live on the expatistan.com European city rankings, below such cities as Bratislava, Zagreb and Split. All of this drives down overheads and production costs and is reflected in the bottom line.
As an ex-socialist state with a liberal economy, employers benefit from a highly-educated workforce, motivated to succeed.
There are 14 Special Economic Zones in Poland, where businesses are offered attractive tax exemptions of up to 70% and employment incentives.
Poland is ideally placed geographically. In the Schengen zone, it offers access to 250 million consumers within a radius of 1,000 kilometres via the trans-European road network including the markets of Estonia and Latvia. Poland’s major trade partners include Germany, Russia, China, France, the UK, Italy, Hungary, Ukraine and Spain.
The factors above have combined to make Poland unique as the only European country immune to the global recession which rocked every other state from 2009. Poland’s membership of NATO and the EU guarantee international safety and stability: added reassurance for anyone planning to invest in Poland.
Santander Trade Portal advises that the Key Sectors of the National Economy include: machine building, iron and steel, coal mining, chemicals, shipbuilding, food processing and automobile. High Potential Sectors are listed as: Information technology, business processing centres, environment and green building, cybersecurity & software for mobile applications.
Polish Business Link offers advice and runs a series of business networking events and seminars in English with expert Polish and British business speakers, diplomats and politicians. In addition, their members’ website is a treasure trove of resources, links and technical information about all aspects of Polish/British business, including How to Invest in Poland.