Poland defies global crisis

Poland is the only country within the Continent to have confidently withstood the widespread financial and economic crisis that appeared on the horizon in 2008. No wonder global investors are beginning to perceive Poland as a ‘green island’ amid economically challenged states all around. Additionally, the Polish economy is picking up and this is accompanied by a relatively stable bank system which has also helped Poland to stay clear of the property bubbles suffered by some European countries in the recent past.

The phrase ‘green island’ was coined after Prime Minister Donald Tusk once spoke about the economy at the Warsaw Stock Exchange with the map of Europe behind him, all in red except for Poland in green. The term since then has been famously quoted to stand for the country's economic success. This good fortune is the outcome of many factors, including sound macroeconomic policy. A case in point is the upper limit of 60 percent debt-to-GDP which became a constitutional provision in 1997. By the same token, in the first half of 2010 Poland attracted more than 377 million Euros through new foreign investment.

Lately Poland has been being described as an extraordinary economic and intellectual haven for all kinds of business. Efforts have been made to attract international capital and investors to launch their business ventures in Poland as the country has a well-developed network of financial and banking markets with the capacity to satisfy core investors, private companies and groups of well-to-do investors with clearly defined objectives and preferences.

Worldwide corporations choosing to set up their business in Poland are no longer relying only on comparatively low labour costs and the country’s large market, but they are rather attracted by the well-educated staff who can boost technological undertakings.

The potential of the Polish economical strength also lies in the GDP positive growth and rocketing industrial production. Naturally, it all generates more and more interest among foreign investors. According to the reports of the National Bank of Poland foreign direct investment (FDI) in Poland surpassed 5 billion Euros in the first half of 2010, which constitutes a growth of 75 % as juxtaposed with the same period of 2009.

Poland’s growing attractiveness is also reflected in the views of well-known global institutions such as, for instance, A.T. Kearney whose “2010 Foreign Direct Investment Confidence Index” reveals that Poland is seen as one of the world’s best business destinations. Only 5 countries outstaged Poland in the index, they are China, the US, India, Brazil and Germany.

www.polishworld.com/wse
www.nbp.pl/Homen.aspx?f=/srodeken.htm
www.atkearney.com