Poland business facts

Article published first in Franchising Info - Poland 

Poland is one of the fastest growing economies in Europe which is confirmed by various market indicators such as Gross Domestic Product, Consumer Price Index, structure of the labour market, competitive wages, and dynamic foreign trade exchange. With GDP growth of 5.5.% for the second quarter of 2006 (3.2 % in 2005), Poland is developing much faster than the Euro zone (1.3%) and higher than the average of all 25 EU members (1.5%).

According to a survey commissioned by PAIiIZ in 2005 the main reason for investors to enter Poland is cost and time effectiveness. Costs of conducting business in Poland are significantly lower than in Western Europe. Also the labour cost are very optimistic for foreign investors. Since 2001, wages in Poland have been increasing very slowly due to high unemployment. As a result, the wage level in the Czech Republic and Hungary is now higher than in Poland. (Average monthly wages in the enterprise sector in February 2004 in Poland was €490).