Prospects for Poland continue to be positive. According to the Polish Investment and Trade Agency (PAIH), Poland received €13.6 billion in foreign direct investment (FDI) in 2021, an increase of 7% compared to 2020.
This can be attributed to several factors, including Poland's stable political and economic environment, its growing talent pool, and its business-friendly policies. Additionally, Poland continues to attract investment in key industries, such as tech and manufacturing.
It is worth remembering the five key reasons why Poland continues to attract investment:
- Digital transformation
As technology continues to play a larger role in the global economy, businesses in Poland are embracing digital transformation to stay competitive. This includes investing in e-commerce, mobile apps, and other digital solutions to reach customers and streamline processes. Also, more than half of Polish consumers (58%) claim they prefer to shop online rather than in physical stores.
- Talent pool
Poland has a well-educated and highly skilled workforce, making it an attractive destination for businesses looking to expand in Europe. Poland has one of the highest proportions of individuals with a tertiary education in Europe, with over 40% of the population aged 25-64 holding a university degree. Companies can leverage this talent pool by investing in training and development programmes for employees, as well as by partnering with local universities and research institutions.
- Sustainable business
As consumers are becoming increasingly conscious of environmental and social issues, businesses in Poland are adopting more sustainable business practices in order to appeal to eco-conscious customers. Poland has been investing heavily in renewable energy, with the government targeting a 15% share of renewable energy sources in the country's energy mix by 2030. This can include reducing waste, using renewable energy sources, and implementing socially responsible business practices.
- EU funding
In 2019, the European Regional Development Fund (ERDF) provided over €9 billion in funding for projects in Poland, helping to support businesses, innovation, and infrastructure development in the country. Companies can take advantage of these opportunities by researching available grants, subsidies, and other forms of support, and by working with local economic development agencies to navigate the application process.
- Innovation
Poland has one of the fastest-growing tech sectors in Europe, with a growth rate of over 20% in recent years. Poland is home to a growing tech sector and has a vibrant startup ecosystem, making it a great place for companies to foster innovation and stay ahead of the curve. Businesses can support innovation by encouraging employee ideation and experimentation, partnering with local accelerators and incubators, and investing in research and development. This can help companies stay competitive and bring new products and services to market more quickly.
Investing in Poland offers a unique opportunity to tap into a thriving market with a growing economy, a highly skilled workforce, and a supportive business environment, making it a prime destination for businesses seeking growth and success in Europe.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
