Poland: the “Golden age” of economic growth
Words provided by Valians International
Poland is steadily catching up with Western Europe and has become the seventh largest economy in the EU with a total GDP of £461 billion.
The Polish business scene is very dynamic and looking for global partners. Why choosing Poland to develop business internationally and what are the key sectors of opportunities ?
Good reasons to develop your business in Poland:
- One of the fastest economy in the EU, in continuous growth for the last 20 years (+5.1% in 2018) with an important internal market of 38 millions of potential customers with increasing purchasing power.
- Geostrategic location in the heart of Europe: Access to Baltic sea, extensive road and railway networks part of the trans-European corridor.
- Attractive labour market: young, well educated workforce: language proficiency, strong work ethics.
- Mature Business environment: variety of manufacturing sectors with strong know-how, dense network of suppliers and subcontractors, availability of clusters, industrial and technology parks, well developed R&D infrastructures.
- Investment support ecosystem: Local tax reliefs, EU & government grants.
Key sectors of rising opportunities for British companies in polish market:
Construction and infrastructure sectors: £40.13 billion planned to be spent on investment in new road infrastructure, £14 billion for the railway infrastructure, £14 billion to be invested until 2030 in the enhancement of navigation along Poland’s main rivers.
Retail and Consumer Goods: Polish consumption expenditure continues to growth and in 2018 achieved 5%. Between 2018-2024, the cosmetics market is estimated to growth by 19% with a growing popularity for natural cosmetics. 79% of Poles declare willingness to pay more for higher quality furniture and interior décor. The ecommerce is worth £8.68 billion, forecasted to double in size within the next few years.
Food & drink: Premium as well as organic food segment grow by 20% per year.
Industry 4.0: Poland is on its way to industry 4.0 with increasing demand for new and innovative manufacturing technologies with incentives for investments boosted by the polish government.
Electronics: In the last decade, the electronics industry has grown significantly, mostly due to foreign direct investment. Poland has become the first producer of household appliances in Europe generating a turnover of £13.2 billion.
ICT: The value of polish IT market amounted to £8.8bn in 2018. The country has become an internationally recognized destination for advanced business processes and offshoring destination. Several ongoing project to digitalize the country “from paper to Digital Poland”
Banking and fintech: The polish banking sector is one of the most technologically advanced in the world. Poland is the world leader in contactless payments.
Healthcare and pharmaceutical : one of fastest growing sector with a development of a large number of private clinics, higher spending on medical equipment, rehabilitation services and diagnostic tests. Poland is a key European centre for the production of drugs and medicines.
Agriculture: Over 60% of Poland’s territory has is agricultural land. The sector is on its way of the consolidation of farm sizes, the use of modern technologies and the upgrading of farm equipment.
Company contact details
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- Phone: +48 12 631 12 89