This publication is licensed under the terms of the Open Government Licence v3.0 except where otherwise stated. 2 June. June 2, 2020. https://ivypanda.com/essays/the-poland-economy-pest-analysis/. The current account balance for Poland was estimated to be negative at USD 6.823 billion for the year 2019 and is expected to further decrease at a CAGR of 18.34% and reach USD -15.836 billion by 2024. Looks like youve clipped this slide to already. The GDP of Poland was $677.5 billion in 2021. Poland is a major economic power in Europe. Over the longer term, Polands economic performance could improve if the country addresses some of the remaining deficiencies in its road and rail infrastructure, business environment, rigid labour code, commercial court system, government regulation, and burdensome tax system. These users can include information given in the publication in presentations and internal reports by providing full copyright credit to the publisher. company number 01813905 and registered address John Carpenter House, John Carpenter Street, London EC4Y 0AN. Deck-Partyka, Alicja. By: support@eddusaver.com phnne number +1 . Despite strong growth in take-up of EVs, major economies in southern and eastern Europe are set to miss EU targets. This PESTLE country analysis report on Poland provides a holistic view of the country, with insightful analysis of current and future issues, supplemented with relevant quantitative data to support trend analysis. The current political situation explains why the country continues to have positive economic growth. You have rejected additional cookies. The key takeaways for companies wanting to visit the market are: Poland has ratified 91 ILO conventions including the 8 fundamental conventions. However, air pollution, waste management, water pollution, poor quality drinking water, emissions, and flooding are some of the environmental challenges facing the country. Poland is a beautiful country. The Polish Information and Foreign Investment Agency (in English) covers a wide range of economic and business areas, including information on doing business in Poland, economic statistics, trends, foreign trade details, inter-EU trade and a breakdown by industry and sector. The country has a population of 38.5 million people. Poland was ranked 35th out of 152 nations in the GCRI Q2 2022. Any foreigners wishing to work in Poland must obtain a work permit; however, it is not a requirement for the citizens of EU, EEA and Switzerland. We've updated our privacy policy. 2020. | Published by: MarketLine Can be shared by unlimited users within one corporate location e.g. Artificial Intelligence: Leading technology companies, Cybersecurity: Leading technology companies, Electric Vehicles: Leading technology companies, Transportation, Infrastructure and Logistics. This report also highlights key clusters/cities which contribute significantly to the countrys GDP and population along with major companies presence in these areas. Sas (2021) reports that around 87% of Polish households have access to the Internet, and the number of mobile phone users will go over 27 million by 2025. Telecommunications, transport, construction, IT, and financial services are some of the sectors that have been booming for quite some time. Likewise, its political stance against migrants from other countries is also a barrier to resolving the problems of labour shortage (Santora, 2019). 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This, together with continuing low interest rates and the execution of EU fundsrelated investments, will help sustain Poland's economic growth prospects in the near term. It is officially known as the Republic of Poland. Due to slowdown in global economic activity due to COVID-19 pandemic the unemployment is expected to increase by 66.94% and reach 9.919% in 2020. However, one of the biggest challenges for the country is how to encourage Polish engineers and IT experts to stay in the country, as many of them go abroad for better opportunities. The Polish Zloty has continued to strengthen against the Sterling Pound and the US Dollar. You can use them for inspiration, an insight into a particular topic, a handy source of reference, or even just as a template of a certain type of paper. Farming takes up over 60% of the total land, and the country is largely self-sufficient in the matter of its food supply (Santander, 2020). Poland's real gross domestic product (GDP) was PLN 1,983.37 billion in 2019 and due to COVID-19 outbreak it is estimated to shrink by 4.579% to be around PLN 1,892.55 billion in 2020. | USD $350, June, 2021 It is one of the countries in the EU which was least affected by the global lockdowns in 2020/21. Learn how to effectively navigate the market research process to help guide your organization on the journey to success. Warsaw: Oxford University Press, 2004. Since 1990, the countrys economy has been growing exponentially. According to Gordon (23), Poland is one of the best countries to consider for international business. This issue is being addressed both by Poland and the UK. These two highlights have helped enormously to understand the projections into the future concerning our business units, we also utilise the project database to source new projects for Liebherr-Werk to use as an additional source to pitch for new business.. China's call for a ceasefire will notand is not intended tomeaningfully increase the chance of one. Read the information provided on our bribery and corruption page. Employees are entitled to 20 days annual holiday if they have been employed for less than 10 years, and 26 days if employed for 10 years. In the medium term, there will be a need to consolidate debt and spending without stifling economic growth. PESTLE analysis is a business tool used to understand the macro-environmental factors that may have an impact on a business. Keep valuables and cash out of sight, especially in crowded areas and tourist spots where pickpockets and bag snatchers operate. The political situation in the country offers new opportunities for doing business (Herbener 12). The social landscape section analyzes the government's social welfare policies, as well as the country's performance in terms of healthcare, income distribution, and education. M Market Research Reports and the M Market Research Reports Logo are registered trademarks of Market Research Reports, Inc. Disclaimer: Market Research Reports, Inc. has no affiliation to, and is not associated with any other website(s) or organization(s). "The Poland Economy' PEST Analysis." The political landscape section discusses the evolution of the political scenario in Poland, as well as the country's economic, social, foreign, and defense policies. Copyright 2010-23 Market Research Reports, Inc.. All Rights Reserved. Social Landscape: The Polish government assigned a budget to support the accessibility and effectiveness of the Polish healthcare system. Understand customer demographics in Poland through analysis of income distribution and the rural-urban split, as well as healthcare and education. Print. IvyPanda. Read the information provided on our safety and security page. The SlideShare family just got bigger. In 2018, Services industry exports was valued at USD 69.8 billion for Poland. According to PwC, the economy has the potential to grow around 3% per annum until 2030 and 2.5% per annum until 2050. - New state tax policies for accounting. Print. The Republic of Poland Area: 312685 sq km Capital : Warsaw Neighboring states: Germany, Czech Republic, Slovakia, Ukraine, Belarus, Lithuania, Russia Official Language: Polish Population: 38.6 million Time: Central European Time(GMT+1) Currency: Zloty(1 Euro:4.18 zloty,1$=3.15 zloty) Inflation: 4% GDP: 765.6 . "The Poland Economy' PEST Analysis." Economic. For example, the first oil lamp was invented in the country (Zylicz 78). Since 1990, the country's economy has been growing "exponentially." Learn how to effectively navigate the market research process to help guide your organization on the journey to success. 03925319, Curacao and Sint Maarten Insurance Industry - Key Trends and, Andorra Insurance Industry - Key Trends and Opportunities to 2026, British Virgin Islands Insurance Industry - Key Trends and Opportunities. . Moreover, the country allocated money to improve access to childcare for children up to the age of three years by creating several new places in nurseries and childrens clubs and establishing a new set of quality standards for childcare, including educational guidelines. On social issues PiS is conservative, but on economic policy the party has positioned itself to the left. Having used several other market research companies, I find that GlobalData manages to provide that difficult-to-get market data that others cant, as well as very diverse and complete consumer surveys. If you wish to purchase this report using bank/wire transfer against an invoice, please fill your details using request invoice form given below. Fiscal health, monetary freedom, trade freedom, and investment freedom are the economic strengths of the country. It is a politically stable country and has become a success story in Europe. GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. Instant access to millions of ebooks, audiobooks, magazines, podcasts and more. We utilize security vendors that protect and "The Poland Economy' PEST Analysis." The recent economic transformations have made the country successful. Poland became a democratic country in 1989. PESTLE analysis can be an extremely effective tool in business, if used correctly. (2021) Polands contributions to and receipts from the European Union budget from 2004 to 2019, available at: https://www.statista.com/statistics/1135294/poland-s-contributions-to-and-receipts-from-the-eu-budget/ (accessed 16 April 2021), Trading Economics (2021) Poland GDP, available at: https://tradingeconomics.com/poland/gdp (accessed 15 April 2021), Worldometer (2021) Poland population, available at: https://www.worldometers.info/world-population/poland-population/ (accessed 17 April 2021), World Population Review (2021) Hardest working countries 2021, available at: https://worldpopulationreview.com/country-rankings/hardest-working-countries (accessed 17 April 2021). Request a Free Sample. This report provides PESTLE (political, economic, social, technological, legal and environmental) analysis for Poland. There are some other social challenges that Poland needs to consider. The plan will incorporate reforms and public investments in the areas including public finances, healthcare reform, labor market, innovations, qualifications, and development of renewable energy sources. Poland is a powerful country in Central Europe. a regional office. These employees of purchasing organization can include information given in the publication in presentations and internal reports by providing full copyright credit to the publisher. - How does Poland perform in terms of GDP growth, its fiscal situation, international investment position, monetary situation, and employment? It contains thousands of paper examples on a wide variety of topics, all donated by helpful students. Do not sell or share my personal information, 1. You have accepted additional cookies. Where we have identified any third party copyright information you will need to obtain permission from the copyright holders concerned. The GDP of Poland was $677.5 billion in 2021. Poland has a massive broadcasting market. PESTEL analysis of Poland (Poland country profile) . - How does Poland perform in terms of healthcare, income distribution, and education? Poland will hold a parliamentary election in November, which will be a tightly fought contest between the incumbent Law and Justice (PiS) party and the opposition Civic Platform (PO). In 2015 Poland adopted a law requiring investors to get approval from the government to buy a stake of 20% or higher in strategic industries such as power generation, chemicals and telecommunications. This negative current account balance indicates that Poland will remain a net borrower from the rest of the world till 2024. The government aims to get Poland out of the middle-income trap and transform it into a high-tech, knowledge-based heavyweight economic player, by mobilising domestic capital and creating innovative Polish national champions in sectors such as e-mobility, shipbuilding and automotive. Print. 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