Does Inflation Affect the Plans for New Year’s Eve?

According to a survey conducted by Rankomat.pl, high prices have affected Poles’ New Year’s Eve plans. Every third of them did not plan to go out and 15% switched to cheaper plans.

New Year’s Eve is less than a week away. Over the past two years, we had to say goodbye to a year during the pandemic restrictions, but few of us will decide to “retrieve” the sacrifices from the 2020-2021s this year. The reason is the record inflation rate.

Updates about New Year’s Eve:

Experts checked how the current economic situation affected Poles’ New Years Eve plans. The research conducted for this purpose shows that as much as 63% of Poles will welcome 2023 without big parties and trips.

34% of respondents declare that they do not plan to go out. Slightly less, 29% of respondents admitted that they had completely given up on New Year’s Eve plans, and 15% switched to cheaper plans. Only 12 percent of respondents admitted that inflation had no impact on their plans.

The study shows that up to 40% of Poles intend to spend less than PLN 500 on New Years Eve. 14 percent of respondents want to fit in the range of PLN 501-1000. Only 5 percent of respondents expect to spend between PLN 1,001 and PLN 2,000. Only 3 percent will spend more than PLN 5,000. Nearly one in ten respondents will not pay to celebrate the arrival of 2023, and 25 percent of respondents could not give an answer on New Year’s Eve expenses.

Business Implications for Poland

Economic and regulatory developments in Poland have broad implications for businesses operating in the country. Poland’s economy, the largest in Central and Eastern Europe, continues to attract international investors and entrepreneurs seeking EU market access, competitive costs, and a skilled workforce of over 17 million workers.

For foreign companies and entrepreneurs doing business in Poland, staying informed about economic trends, regulatory changes, and market dynamics is essential for strategic decision-making. Whether you are considering entering the Polish market, expanding existing operations, or optimizing your corporate structure, professional advisory support can help navigate the complexities of the Polish business environment.

Poland offers a comprehensive business infrastructure including special economic zones with tax incentives, a well-developed banking system, modern office space in major cities, and a legal framework aligned with EU standards. These factors, combined with Poland’s strategic geographic position between Western and Eastern Europe, make it an attractive hub for businesses targeting the broader European market.

If you are doing business in Poland or considering entering the Polish market, Zalewski Consulting can help. Learn more about our tax planning and advisory, or contact us for a free consultation.