PDF | On Dec 31, 2018, Joanna Jedel and others published Evaluation and development prospects of the sports and recreation market in Poland in 2000-2030. The next issue in the PESTEL analysis of Poland is the economic environment. 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.. Additionally, the policy also includes low labor market participation of women and disadvantaged groups by 2026. Social environment and its impact on Poland. IvyPanda. Electronics export accounted for USD 27.1 billion, machinery for USD 43 billion, vehicles for USD 35.6 billion, chemicals for USD 35.6 billion, metals for USD 25.6 billion, minerals for USD 7.53 billion, stone for USD 6.22 billion, textiles for USD 26 billion and agriculture for USD 49.2 billion in 2018. Technological environment is an important issue of discussion in the PESTEL analysis of Poland. We are here to help. Fiscal health, monetary freedom, trade freedom, and investment freedom are the economic strengths of the country. Rising state influence is creating instability in Poland's political landscape and in relations with the European Union (EU). +44 20 7947 2960. You are free to use it for research and reference purposes in order to write your own paper; however, you It can be used in a range of different scenarios, and can guide people professionals and senior managers in strategic decision-making. "The Poland Economy' PEST Analysis." The Polish government introduced a `Business Constitution in April 2018, a package of laws to improve the business environment, including exemptions for start-ups and micro-businesses from registration and social security contributions, In addition, from 30 June 2018, Poland granted itself the status of a Special Economic Zone with preferential tax rates for 15 years for companies depending on the size of investment and their location. 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. all employees of a single company, reportstore@globaldata.comTel +44 (0) 20 7947 2960. Costing Nature in a Transition Economy: Case Studies in Poland. PESTLE analysis. In 2020, Poland's GDP contracted by "only" 3.5%, significantly less than the OECD average of 5.5%. Despite strong growth in take-up of EVs, major economies in southern and eastern Europe are set to miss EU targets. Wed like to set additional cookies to understand how you use GOV.UK, remember your settings and improve government services. company number 01813905 and registered address John Carpenter House, John Carpenter Street, London EC4Y 0AN. The deployment of 5G network and services in Poland will lead to a new market of a wide range of products and solutions, ranging from security solutions to network products. On social issues PiS is conservative, but on economic policy the party has positioned itself to the left. Every customers requirement is unique. Poland is a powerful country in Central Europe. Though the average working week is 40 hours, around 10% of working men work more than 50 hours a week (World Population Review, 2021). An slimmed alternative to PESTLE is the PEST Analysis. Agriculture, energy, manufacturing, and tourism are some of the top industries. This publication is available at https://www.gov.uk/government/publications/overseas-business-risk-poland/overseas-business-risk-poland. This person cannot share the publication (or any information contained therein) with any other person or persons. June 2, 2020. https://ivypanda.com/essays/the-poland-economy-pest-analysis/. 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). In March 2020, Polish authorities indicated they were planning to sue a group of LGBT rights activists who had created an "Atlas of Hate," which mapped anti-LGBT provisions that had been. Read the information provided on our safety and security page. He has a keen interest in business, hospitality, and tourism management. The country faces labour shortages; however, it is largely failing to entice the diaspora to return there. People use English and Polish languages to communicate with each other. Visit the Business Anti-Corruption portal providing advice and guidance about corruption in Poland and some basic effective procedures you can establish to protect your company from them. In the 2019 parliamentary elections, PiS once again won an outright majority in the Lower House but narrowly lost control of the Upper House to the opposition. This is IvyPanda's free database of academic paper samples. This person can include information given in the publication in presentations and internal reports by providing full copyright credit to the publisher. As well, Marie Curie from Poland was the first person to discover radium and polonium. The government also encourages its citizens to be ambitious and innovative. They also borrow ideas and skills from new visitors and investors. Please contact client services for any further information: The present report is structured as follows: First, we set the scene regarding 100% decarbonised DHC systems. 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. Click here to review the details. The database is updated daily, so anyone can easily find a relevant essay example. Please use the form given below to let us know your questions related to this report. The Poland Economy' PEST Analysis. By whitelisting SlideShare on your ad-blocker, you are supporting our community of content creators. (Zdeb et al., 2020). You can read the details below. It is also a member of NATO, the UN, OECD, European Economic Area, International Energy Agency, Schengen Agreement, and some other prestigious organisations and agreements. Instant access to millions of ebooks, audiobooks, magazines, podcasts and more. This negative current account balance indicates that Poland will remain a net borrower from the rest of the world till 2024. It comprises of sixteen administrative provinces. Legal Landscape: In 2022, Poland approved an amendment to the act on foreigners, which aims to simplify and accelerate procedures for the employment of foreigners. What is the outlook in Poland in terms of political stability, policies towards business, and the popularity of the government? For example, it received 13.1 billion euros from the EU budget in 2020 (Sas, 2021). Poland is the 23rd largest economy in the world. Poland has a published government strategy to combat the problems of human trafficking and labour exploitation. Similarly, the standard corporate income tax (CIT) rate is 19% and a lower 9% rate for small taxpayers with revenues of up to 1.2 million euros a year (PwC, 2021). Gordon, Sharon. Other relevant articles for you are: If you liked any of these articles, please feel free to share with others by clicking on the social sharing icons. - How does Poland perform in terms of GDP growth, its fiscal situation, international investment position, monetary situation, and employment? Trade unions are legal, employees are allowed to strike but only under the conditions set out in relevant domestic legal act. In conclusion, it is fair to state that this analysis portrays Poland as a stable country for international business. SWOT Analysis of Kelloggs (Kellogg Company), PESTEL analysis of the hospitality industry, https://taxsummaries.pwc.com/poland/corporate/taxes-on-corporate-income, https://santandertrade.com/en/portal/analyse-markets/poland/economic-political-outline, https://www.nytimes.com/2019/03/26/world/europe/immigration-poland-ukraine-christian.html, https://www.statista.com/statistics/1135294/poland-s-contributions-to-and-receipts-from-the-eu-budget/. The section also discusses the country's performance according to World Bank Governance Indicators. Read the information provided on our bribery and corruption page. Biskupski, Mieczyslaw. 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. Understand the economic situation in Poland through a balanced assessment of core macroeconomic issues. 2 June. - New employment laws for employee handbook maintenance. a regional office, Can be shared globally by unlimited users within the purchasing corporation e.g. Currently, Poland is doing business with different countries, thus making it an economic powerhouse in the region. The constitution of Poland assures the independence of the judiciary. Poland is a major economic power in Europe. Poland adheres to all EU laws regarding copyright and intellectual property and the local branches of international watchdogs monitor breaches that may occur, including downloading of illegal software which mostly concerns the music/film industry. Learn how to effectively navigate the market research process to help guide your organization on the journey to success. 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. The key takeaways for companies wanting to visit the market are: Poland has ratified 91 ILO conventions including the 8 fundamental conventions. It is bordered in the north by Ecuador and Colombia, in the east by Brazil, in the southeast by Bolivia, in the south by Chile, and in the west by the Pacific Ocean. Do not sell or share my personal information, 1. 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 . | USD $350, June, 2021 The economic landscape section outlines the evolution of Poland 's economy, as well as the country's performance in terms of GDP growth, composition by sector (agriculture, industry, and services), fiscal situation, international investment position, monetary situation, credit disbursement, banking sector, and employment.". Polands ease of doing business ranking improved from 33rd position in 2018. Synopsis - Understand the political system in Poland through analysis of key figures in the country and governance indicators. 1. 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. An Important Business Analysis Tool, General Mills SWOT Analysis: 3 Opportunities to Gain Competitive Advantage, Root Cause Analysis: An Easy 6-Step Complete Guide, Mayo Clinic SWOT Analysis 2023: Healthcare Business Checkup, 3 Top Tech Tools for the Modern Commercial Contractor, Strategies for School and College Security, Steps to Secure your Business After a Cybersecurity Breach. The GDP of Poland was $677.5 billion in 2021. 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. This makes the country one of the best places to invest (Czerny 37). Files are delivered directly into your account soon . Poland is now among the fastest-growing economies in the European Union (EU). 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