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Why invest

Economy

Macroeconomic environment

In 2017, Romania was the first economy in EU in terms of economic performance, up by 6.9% real GDP growth.  One of the growth triggers was the increase in private consumption due to an expansionary fiscal policy. For 2018, forecasts maintain a positive outlook, with economic growth perspective to remain robust, as the European Commission forecasts a 4.5% rise.

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Education & skills

Professional education

Enrollment in professional education has risen constantly, which translates to a shorter transit from the classroom to the workplace.

At the end of 2016 a total of 178.1 thou pupils were enrolled in a form of professional education, an increase with 86.3 thou pupils compared to 2011 (+ 94%). Finally, smaller increases were observed regarding special post-secondary schools and special post-secondary schools – cycle 2.

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Wages & salaries

Hourly labor costs

Overall*, the hourly labor costs in Romania was around €6.3/hour, 4.25 times lower than EU average in 2017, where hourly labor costs was €26.8/hour, representing the 2nd lowest hourly labor costs in EU28 countries.

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Cost of living

Bucharest vs. other EU capitals

When compared to other European countries Romania is quite an affordable destination. The cost of living in Romania, especially in Bucharest, is around 50% lower compared to other major Western cities like Vienna, London, Berlin, Paris and below the average of other capitals of the CEE region like Prague, Warsaw or Budapest.

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Tax

Income tax & fiscal incentives

In Romania, personal income is taxed at a flat rate of 10%, one of the lowest individual tax rates in EU, the EU average being 38%.

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Infrastructure

Industrial parks infrastructure

84 industrial parks are spread across Romania, placed under both private and public ownership, most offering capabilities suited for industries like aerospace, IT&C and industry, of which: 11 greenfield, 15 under construction and 58 operational.

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Internet infrastructure

Romania’s internet infrastructure is highly developed and competitive, boasting the top connection speed in the region, while also coming in 8th by average speed.

Technology’s rise to prominence stems from the good internet infrastructure.

Leveraging it falls into the hands of a handful of an increasing pool of very talented developers, who are ever growing in numbers.

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Ports

Analysis under way. Updating soon

Airports

Analysis under way. Updating soon

Railway

Analysis under way. Updating soon

Future plans

Analysis under way. Updating soon