Poland is a country located in the heart of Europe, with a population of nearly 40 million people. With its strategic location, highly educated workforce, and a rapidly growing economy, Poland has become an attractive destination for foreign investors looking to expand their business in the region.
Poland has a developing market economy that is the sixth largest in the European Union (EU) and the largest among the former Eastern Bloc members. The country has made significant economic progress since the fall of communism in 1989, transforming its centrally planned economy into a market-oriented one.
The Polish economy is diversified, with strong sectors such as manufacturing, information technology (IT), and services. It is also a major producer of coal, copper, silver, and other natural resources. Poland’s geographic location at the crossroads of East and West Europe makes it an attractive location for businesses looking to expand their reach into other European markets.
Despite the pandemic-induced slowdown in 2020, Poland’s economy has shown resilience and is expected to rebound strongly in 2021 and beyond. According to the latest projections from the European Commission, Poland’s economy is expected to grow by 4.6% in 2021 and 4.4% in 2022. This growth is driven by the easing of COVID-19 restrictions and the acceleration of vaccination campaigns.
Poland’s government has implemented a range of policies to attract foreign investment, including tax incentives, grants, and loans. The country’s government has also established special economic zones, where businesses can benefit from reduced corporate income tax rates and other incentives.
The unemployment rate in Poland has been gradually declining in recent years, with a rate of 5.8% in March 2021. The country’s labor force is highly educated, with a literacy rate of nearly 100%, and the workforce is skilled in areas such as engineering, IT, and business.
Poland’s government has also implemented structural reforms aimed at reducing the country’s budget deficit and debt-to-GDP ratio. These reforms include pension system changes, healthcare reform, and an overhaul of the tax system.
Top 5 Export Countries
- Germany ($95.22B)
- Czech Republic ($22.65B)
- France ($19.70B)
- United Kingdom ($16.49B)
- Netherlands ($15.92B)
Top 5 Import Countries
- Germany ($75.02B)
- China ($47.12B)
- Italy ($16.67B)
- Russia ($16.65B)
- United States ($15.83B)
Top 5 Export Industries
- Machinery including computers ($40.5B)
- Electrical machinery, equipment ($39.4B)
- Vehicles ($27.3B)
- Furniture, bedding, lighting, signs, prefab buildings ($17.6B)
- Plastics, plastic articles ($15.8B)
Top 5 Import Industries
- Cars ($9.58B)
- Motor vehicles; parts and accessories ($7.88B)
- Crude Petroleum ($6.36B)
- Packaged Medicaments ($5.2B)
- Broadcasting Equipment ($4.98B)
Why invest in Poland?
Strategic Location: Poland is strategically located at the crossroads of East and West Europe. It is bordered by Germany, the Czech Republic, Slovakia, Ukraine, Belarus, Lithuania, and Russia. This makes Poland an ideal location for businesses looking to expand their reach into other European markets.
Stable Political Environment: Poland is a stable democracy with a well-established legal system that protects foreign investors’ rights. The country has been a member of the European Union (EU) since 2004 and a member of NATO since 1999, which has contributed to its political stability.
Highly Educated Workforce: Poland has a highly educated workforce, with a literacy rate of nearly 100%. The country has a well-developed education system, with a large number of universities and technical colleges that produce highly skilled graduates in fields such as engineering, IT, and business.
Rapidly Growing Economy: Despite the pandemic-induced slowdown in 2020, Poland’s economy has shown resilience and is expected to rebound strongly in 2021 and beyond. The country has a diversified economy, with strong sectors such as manufacturing, IT, and services. Additionally, Poland offers attractive investment incentives, including tax breaks and grants, to foreign investors.
Investment Incentives: Poland offers a range of investment incentives to foreign investors, including tax incentives, grants, and loans. The country’s government has established special economic zones, where businesses can benefit from reduced corporate income tax rates and other incentives.
Infrastructure: Poland has a well-developed infrastructure, with modern highways, airports, and railways that connect the country with other parts of Europe. The country’s strategic location also makes it a hub for international trade and logistics.
Quality of Life: Poland is a safe and friendly country, with a high quality of life. The cost of living is lower than in many other European countries, and the country has a rich cultural heritage, with numerous historical sites, museums, and festivals.
Conclusion
In conclusion, Poland is an attractive destination for foreign investors looking to expand their business in Europe. With its strategic location, stable political environment, highly educated workforce, rapidly growing economy, investment incentives, infrastructure, and quality of life, Poland has a lot to offer. If you’re considering investing in Poland, now is the time to do it.
Are you interested in investing in Poland but you do not know how?
We can support you in achieving your goal. We can help you in your expansion process to handle all the incorporation of your company in Poland, handling local accounting & tax requirements instead of you and we do not stop there. Logistics and customs procedures, find partners/distributors/buyers in Poland and expand to the Poland e-commerce market. We can support you in all stages of your expansion process. You can find our full range of services here.
Please contact us directly to expand your business to Poland.
