EY: Poland one of top 5 investment destinations
EY’s Attractiveness Survey Europe names Poland as Europe’s fifth most important destination in terms of foreign direct investment. In 2016, the country was chosen as a location for 211 FDI projects, a twelve percent increase compared with 2015. In terms of job creation, the data is even more impressive. Poland landed second on the list, beaten only by the United Kingdom. Investment projects brought over 22 thousand jobs.
EY notes that the CEE region “had a strong momentum in 2016”. It has been described as a favourite destination for the automobile industry. Eastern and Central Europe has the advantage of affordable skilled workforce and good location allowing for timely deliveries. Poland shines as a top spot for shared services centres. Many international companies choose Warsaw, as well as other Polish cities, as home of their back office operations and BPO centres.
All in all, 2016 was a good year in terms of foreign direct investment in Europe. EY recorded a 15 percent increase in FDI and a 19 percent increase in jobs creation. European economies keep growing and offer good environment for investment and expansion. The three countries topping the list of states with the greatest number of FDI projects are the United Kingdom, Germany and France. These three countries alone were responsible for 50 percent of all reported investment endeavours.
Among other things, survey takers responded to questions about Brexit. It turns out for 80 percent of the respondents Britain leaving the EU is not a big concern. They predict their companies will not move their operations because of the upcoming separation. Still, many people are waiting for more details on the UK departure from the EU scene. London remains the top location for investors (Warsaw was ranked 7th).
The Attractiveness Survey was created based on the EY European Investment Monitor database as well as results of telephone interviews with over 500 professionals in the business sector and the EY Brexit Tracker.