Discounts available for multiple purchases. However, ironically anti-migrant sentiment is high in some parts of the Polish society. Polands strides in combating corruption in recent years have been through a combination of law enforcement action and political will. PESTLE analysis is a business tool used to understand the macro-environmental factors that may have an impact on a business. Understand the economic situation in Poland through a balanced assessment of core macroeconomic issues. The Poland Economy' PEST Analysis Essay Exclusively available on IvyPanda Updated: Jun 2nd, 2020 Business Environment Poland is the 23 rd largest economy in the world. The major challenge affecting the country is the high rate of unemployment. The Poland Economy' PEST Analysis. Check benefits and financial support you can get, Find out about the Energy Bills Support Scheme, nationalarchives.gov.uk/doc/open-government-licence/version/3, World Banks ease of doing business ranking, Polish Information and Foreign Investment Agency (in English), Department for International Trade (DIT) team in Poland, low risk market following the rules of EU single market, significant opportunities for UK companies in a number of key sectors such as infrastructure, defence and security, financial services and automotive, Poland was the largest beneficiary of EU funds in the last MFF (over EUR 105.8 billion in 2014 to 2020) and will continue to be the largest beneficiary of EU cohesion funds in next MFF (2021-2027), largest consumer market among the faster-growing Central European countries of the EU, springboard for regional expansion, wealthier consumers clustered in 7 high-growth agglomerations (Warsaw, Poznan, Wroclaw, Krakow, Gdansk/Tri-City, Katowice/Upper Silesia, Lodz), greatly improved transport infrastructure since 2010, with hundreds of kilometres of new motorways, faster inter-city trains, better logistics. This report provides information about key macroeconomic indicators for Poland. Public debt is predicted to stay below the Polish constitutional ceiling of 60% and the deficit will not exceed 10% of GDP. Copyright 2023 - IvyPanda is operated by, Continuing to use IvyPanda you agree to our, The Economic Impact of SMEs in the Economy, China's Economic Development and Social Problems, Polish Coal Export to Germany, Its History and Trends, Poland as an International Business Setting, Political Economy of Poland and the European Union, Foreign Direct Investment in Poland and Czech Republic, Ryan Air Pest Analysis: Technological Factors, Multinational Firms Impacts on the Economic Growth, Export-Oriented Industrialization and Its Principles, South Africa: International Agribusiness, Trade and Financing, Human Development: Democratization and Economy' Relations, Human Development Index: Limitations and Benefits. For example, it received 13.1 billion euros from the EU budget in 2020 (Sas, 2021). Poland has several infrastructure projects in the works such as a warehouse complex, three nine-story residential buildings, as well as an expressway from Borki Wielkie to Elk Poland. Warsaw: Oxford University Press, 2006. Technological Landscape: Poland has a well-developed ICT market and was considered an emerging innovator. Poland has become Europe's biggest economic success story since it transformed into a market economy in the early 1990s. Life expectancy is 74 years for men, and 82 years for women. On the other hand, the company seeks to develop its markets in more stable areas and nations such as China and Poland. Currently, Poland is doing business with different countries, thus making it an economic powerhouse in the region. Background: The correct analysis of COVID-19 predictors could substantially improve the clinical decision-making process and enable emergency department patients at higher mortality risk to be identified. After the fall of communism, the government established new legal and ethical practices in order to promote business prosperity. Economists expect Polands recovery in 2021 will be driven by strong domestic demand, dynamic exports, and a significant inflow of EU funds. These users may print out a single copy of the publication. How can you benefit from that? Understand the legal landscape in Poland through analysis of the judicial system as well as performance of the legal indicators, Understand the environmental landscape in Poland through analysis of the environmental regulations and the performance of the environmental indicators. What is the outlook in Poland in terms of political stability, policies towards business, and the popularity of the government? Browse Report In Poland, the average net adjusted disposable income of the top 20% of the population is an estimated $29,527/ year, whereas the bottom 20% earn an estimated $6,123/ year. 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. Poland currently holds 40th place globally in World Banks ease of doing business ranking compared to 33rd in 2018. The Polish economy is well diversified. The invention of graphene is also a success story for Poland. Sitemap, availability of cheap and qualified labor, What is PESTLE Analysis? 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. The population is aging very swiftly and creating massive shortages in the labour market. The move is mostly symbolic, as co-operation under the treaty's framework has been limited since 2021. 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. The EU's disbursement of cohesion funds to Poland remains in doubt despite an agreement having been reached in June 2022. 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.. We will write a custom Essay on The Poland Economy PEST Analysis specifically for you for only $11.00 $9.35/page. Enjoy access to millions of ebooks, audiobooks, magazines, and more from Scribd. In spite of raising ecological awareness among Polish society, and the continuous promotion of sustainable development, . a regional office, Can be shared globally by unlimited users within the purchasing corporation e.g. Its GDP in 2019 was worth $592.16 billion which is likely to reach around $675 billion in 2023 (Trading Economics, 2021). Bribery is illegal. The section also discusses the country's performance according to World Bank Governance Indicators. Retrieved from https://ivypanda.com/essays/the-poland-economy-pest-analysis/. Learn how to effectively navigate the market research process to help guide your organization on the journey to success. Though the average working week is 40 hours, around 10% of working men work more than 50 hours a week (World Population Review, 2021). On the other hand, Poland has a low inflation rate (Aghion and Durlauf 73). The support offered during the pandemic has been sizeable. Unemployment is further estimated to decrease in 2021 by 23.49% and reach 8.032% of total labor force in Poland. Its current population is around 38 million (Worldometer, 2021). Agriculture, energy, manufacturing, and tourism are some of the top industries. 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. Print. Clipping is a handy way to collect important slides you want to go back to later. 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. 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. Compared to some other European countries, it offers affordable holidays for tourists. Costing Nature in a Transition Economy: Case Studies in Poland. Peru, officially the Republic of Peru, is a country in western South America. We are fully licensed & comply with DEFRA guidance at all times, for the showing of animals 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. Full year 2020 data are available for trade in goods only at the time of publication and stood at 15.1bn. A PESTLE (Political, Economic, Social, Technological, Legal and Environmental) analysis is designed to map the external factors that are currently impacting or are . Poland Overview Overview Context Strategy Economy COUNTRY CONTEXT Poland's well-diversified economy has proven to be one of the most resilient economies in the EU, recovering strongly in 2021 after a relatively small contraction in GDP of 2.2 percent in 2020. New York: Wiley, 2009. Polands per capita GDP was estimated at USD 15,629.88 whereas purchasing power parity (PPP) based per capita GDP is estimated to be at USD 33,747.36 for the year 2019. ensure the integrity of our platform while keeping your private information safe. 2020 Eddusaver.com. Polands ease of doing business ranking improved from 33rd position in 2018. Can be shared by unlimited users within one corporate location e.g. The GDP of Poland was $677.5 billion in 2021. Organised crime groups also engage in smuggling of commodities, illicit goods and people trafficking. However a favourable pre-crisis fiscal situation has provided scope for a large fiscal response, which has aimed to maintain employment and support corporates liquidity and equity, helping prevent bankruptcies. Collecting information is a key part of the problem solving process. Some of the features of PESTLE Analysis of Poland 2012-2017 include: - Trend and forecast of real GDP growth rate - Trend of savings and investments as well as consumption expenditure in. It is an important member of the EU. The country also enjoys the best cuisines, traditional practices, and religious beliefs. 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. The main assumption of the PESTLE analysis . In 2007, Poland saw a rapid annual growth rate of 6.5% with an industry growth rate at 10%. The report identified tax regulations and rates, restrictive labor regulations and policy instability as the most problematic factors for doing business but did recognise ongoing improvements in infrastructure, education and macroeconomic environment. Read the information provided on our Intellectual Property page. 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. Poland is the 23rd largest economy in the world. While unemployment rates have soared across Europe, the official Polish figures have hardly budged, and are the lowest in the EU according to the latest Eurostat figures. Political Landscape: Poland has evolved into a stable democracy since the fall of communism in the country and has made significant progress in terms of safeguarding human rights. Understand the economic situation in Poland through a balanced assessment of core macroeconomic issues. You are in control of the communications you receive from us and you can update your preferences anytime to make sure you are receiving information that matters to you. Please complete the form below, you will then be provided immediate access to the pages you have requested. These figures demonstrate how promising the e-commerce industry is in Poland. Minimum wages were 583.48 euro per month in the third quarter of 2020 which increased to 614.08 euro per month in the first quarter of 2021 which equals to 7368.96 euro per year (Trading Economics, 2021). Understand the technological landscape in Poland through analysis of relevant laws and policies, as well as patents data. The History of Poland. In the longer term, changing demographics, with an ageing society and shrinking labour force, will create policy challenges. "The Poland Economy' PEST Analysis." Social environment and its impact on Poland. Poland's tourism industry generated a revenue of PLN 124.6 billion in 2018 which is a marked 6.8 percent increase compared to the previous year. 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. Poland: Inequality, Transfers, and Growth in Transition: An article from: Finance & Development. Poland pestl analysis 1. Legal environment and its impact on Poland. Pages: 46 We use some essential cookies to make this website work. In terms of labour costs, Poland is still one of the cheapest countries in Europe. Each of these people may use the publication on any computer, and may print out the report, but may not share the publication (or any information contained therein) with any other person or persons outside of the organization. The European Commission forecasts 3.1% growth in 2021 followed by a stronger 5.1% rebound in 2022. This publication is available at https://www.gov.uk/government/publications/overseas-business-risk-poland/overseas-business-risk-poland. 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. | Published by: MarketLine In the UK, this figure stood at a staggering 9.9%. student. Learn how to effectively navigate the market research process to help guide your organization on the journey to success. It receives billions of dollars in remittances from Polish workers who have migrated to other countries. Polish is the major language in the country while Christianity is the major religion. Print. The Poles are one of the hardest working nations in the world (2nd in Europe, and 8th in global ranking). To begin with, Poland has a stable government. Roll No: 16. In December 2021, Polish lawmakers approved the nations budget for 2022 which includes full financing of the governments primary social assistance programs. Tobacco and alcohol are some of the most commonly smuggled goods. Poland. London: Author-House, 2006. - Political instability in a foreign partner country. Unless a Enterprise License is purchased, a Single User License must be purchased for every person that wishes to use the publication within the same organization. PEST analysis from a legal, economic . Technological environment and its impact on Poland. GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. This publication is licensed under the terms of the Open Government Licence v3.0 except where otherwise stated. According to data published by Ipsos, 46 percent of respondents in Poland thought that air pollution was one of the top three environmental issues facing their country, the most of any category.. Print. According to National Bank of Poland data, in cumulative terms at the end of 2019, the UK was 5th largest investor in Poland (PLN48.1bn). Along with providing the countrys snapshot, the report captures the risk factors on macroeconomic risks, political environment, legal environment, demographic and social structure effectiveness, technology & infrastructure, and natural and geographic aspects that might impact business. take time-critical decisions. Significant state ownership in some of Polands key industrial assets creates some market entry barriers. Please contact client services for any further information. The country has a population of 38.5 million people. Technical. This license allows for use of a publication by unlimited users within the purchasing organization e.g. Technological environment is an important issue of discussion in the PESTEL analysis of Poland. You have accepted additional cookies. To view this licence, visit nationalarchives.gov.uk/doc/open-government-licence/version/3 or write to the Information Policy Team, The National Archives, Kew, London TW9 4DU, or email: psi@nationalarchives.gov.uk. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers., COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. Was the first person to discover radium and polonium well, Marie Curie from was. Hand, Poland has become Europe & # x27 ; s biggest economic success story for Poland: Poland a. ; s biggest economic success story for Poland begin with, Poland is one of the primary. Is still one of the cheapest countries in Europe, and the popularity the. Macroeconomic indicators for Poland process to help guide your organization on the journey to success what is pestle?... 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