An annual survey by the UN Conference for Trade and Development (UNCTAD) has just revealed that Poland now ranks as the 6th most attractive country for Foreign Direct Investment (FDI) in the world.
Up from 12th last year and puts Poland ahead of all other European Union countries.The five countries ranked higher than Poland are China (no surprise there), the United States, India, Brazil, and Russia. The Czech Republic is the only other EU member state from Central and Eastern Europe in the top 20, in 17th place.
In 2010 developing countries attracted almost half of worldwide FDI flows for the first time.
According to National Bank of Poland (NBP) data for the first five months of 2011, FDI inflows into Poland reached €4.2bn for thew period January-May, equivalent to 62% of total inflows in 2010.
Poland why buy property there?
This will be no surprise to property investors in Poland, who know that Poland was the only country in the European Union not to go into recession, when all the other countries did. It represents a safe haven economy, which is politically stable and has a buoyant property market. It is not your traditional second holiday home destination, but makes a great choice for an investment property in one of the main city centres such as Warsaw of Krakow, or even buying a holiday home in a place like Krakow, which is very popular as a city centre break, given all its historic connections and proximity to Auschwitz.
Low labour costs and proximity to important markets are making Central and Eastern Europe an attractive manufacturing destination and Poland is key to this. In the major cities, English is widely spoken so a Brit could move to Warsaw or Krakow and work in a white collar industry, like IT, or accountancy. Likewise, the building industry is in demand, as the country gears up for the UEFA 2012 Football Championships and is building stadia as well as improving the infrastructure.
Even China, ranked higher than Poland in the FDI stakes, is investing in Poland. For example part of China Shanxi Yuncheng Plate Making Group, (one of the world’s leading makers of printing cylinders), is being built in the ?odz Special Economic Zone (LSSE). The cylinders will be used as part of the production of packaging materials for food and pharmaceutical sectors.
Poland is expecting GDP growth of 3.5% in 2011. Property investors, seeking capital growth and promising rental prospects should think about Poland. As international employers seek to bring subsidiaries to Poland and recruit more people in city centres and special economic zones, like Krakow, demand for property rises.
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