Sunday, February 19, 2012

Poland is booming

"Poland is finding its own path through the EU crisis.  It is one of the few EU countries that did not suffer from the financial crisis.  It is the only of 27 EU nations to avoid a recession in 2009.  Poland’s financial system is stable and the stock exchange is one of the healthiest in the EU.
Polish exports grew more than 3.5-fold from 2000 to 2010 and Polish companies are the low-cost suppliers for many of Germany’s export companies.  Poland is Germany’s largest trading partner.  For Germany, trade with Poland exceeds trade with Russia, Spain, or Japan, and German exports across the Polish border have doubled since Warsaw joined the EU in 2004.  The Ernst & Young Report ranks Poland number sevenon its list of attractive global investment locations.  And Poland’s co-hosting the European Soccer Championships this summer will surely enhance this global reputation and increase capital infusion infrastructure projects, and travel related industries will continue to attract capital.
Poland is one of the few European nations with substantial domestic energy production.  It sits on shale gas reserves, which the Energy Information Administration (EIA) estimates is 187 trillion cubic feet (approximately 5,3 trillion cubic meters) – more than 200 times annual consumption, which could last for over two centuries.
Poland’s 39 million citizens provide for robust domestic demand of goods and services.  The Polish Zloty has insulated the economy from Euro woes and kept Polish exports competitive.  Warsaw’s banking regulations prevent foreign banks from taking capital out of its Polish subsidiaries to cover losses elsewhere, resulting in relative calm in Poland’s credit markets.   Finally, the Polish workforce is young and educated, and those who emigrated following Poland’s EU accession have returned home to a country that provides them with better opportunities."

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