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). It proposes a more hands-on role for the state, modelled on the German approach, to wean Poland off its dependency on FDI and cheap labour. June 2, 2020. 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. The Polish economy can improve further if the country can further develop its infrastructure. . Poland has become Europes biggest economic success story since it transformed into a market economy in the early 1990s. It is an offence for British nationals or someone who is ordinarily resident in the UK, a body incorporated in the UK or a Scottish partnership, to bribe anywhere in the world. Print. Graphene is a useful compound in the electronics industry because it is a good conductor of electricity (Aghion and Durlauf 38). How does Poland perform in terms of technology-intensive sectors like IT, life sciences, and R&D expenditure trends. PESTEL analysis of Poland (Poland country profile). How does Poland perform in terms of healthcare, income distribution, and education? Please complete the form below, you will then be provided immediate access to the pages you have requested. Weaknesses COVID-19 We are here to help. Free access to premium services like Tuneln, Mubi and more. Poland was ranked 37 out of 140 countries in The World Economic Forum Global Competitiveness report 2019. The section also discusses the country's performance according to World Bank Governance Indicators. We are fully licensed & comply with DEFRA guidance at all times, for the showing of animals By: These users may print out a single copy of the publication. How does Poland perform in terms of technology-intensive sectors like IT, life sciences, and R&D expenditure trends. Poland is now among the fastest-growing economies in the European Union (EU). President Duda was first elected in May 2015 and re-elected in early July 2020 with 51% of the vote, beating the opposition candidate, the Mayor of Warsaw Rafal Trzaskowski. - New employment laws for employee handbook maintenance. Read the information provided on our organised crime page. Dec 23 2020: 37: USD 350.00: New Cars in Peru . 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. 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. Cases of abuse of authority are also common in the country (Ryan 274). Levels of organised crime in Poland remain low and most businesses will be unaffected. Likewise, developing and strengthening relevant institutions, increasing labour supply, and increasing opportunities for women should also play a big role. He writes regularly online on a variety of topics. Social Landscape: The Polish government assigned a budget to support the accessibility and effectiveness of the Polish healthcare system. Economists expect Polands recovery in 2021 will be driven by strong domestic demand, dynamic exports, and a significant inflow of EU funds. A PESTLE 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 . Handbook of Economic Growth. How can you benefit from that? Its GDP in 2019 was worth $592.16 billion which is likely to reach around $675 billion in 2023 (Trading Economics, 2021). 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. 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. available at: https://tsh.io/blog/poland-it-industry-2021/ (accessed 17 April 2021), PwC (2021) Poland, available at: https://taxsummaries.pwc.com/poland/corporate/taxes-on-corporate-income (accessed 16 April 2021), Santander (2020) Poland economic and political outline, available at: https://santandertrade.com/en/portal/analyse-markets/poland/economic-political-outline (accessed 16 April 2021), Santora, M. (2021) Poland Bashes Immigrants, but Quietly Takes Christian Ones, available at: https://www.nytimes.com/2019/03/26/world/europe/immigration-poland-ukraine-christian.html (accessed 17 April 2021), Sas, A. You can also avail the option of purchasing stand-alone sections of the report or request for a country specific report. The client services team will arrange delivery of your sample pages. Keep valuables and cash out of sight, especially in crowded areas and tourist spots where pickpockets and bag snatchers operate. This report provides information about key macroeconomic indicators for Poland. PEST analysis from a legal, economic . The EU's disbursement of cohesion funds to Poland remains in doubt despite an agreement having been reached in June 2022. This person cannot share the publication (or any information contained therein) with any other person or persons. Please contact client services for any further information: Internal divisions will limit progress on strengthening EU defence, ensuring that the US remains a key security partner. Poland has not signed the Agreement on a Unified Patent Court. On social issues PiS is conservative, but on economic policy the party has positioned itself to the left. Aghion, Philippe, and Steven Durlauf. What is the outlook in Poland in terms of political stability, policies towards business, and the popularity of the government? Understand customer demographics in Poland through analysis of income distribution and the rural-urban split, as well as healthcare and education. MarketLine uses the information in this form to provide you with occasional updates on new products and reports in accordance with your preferences. | USD $350, June, 2021 Poland has become Europe's biggest economic success story since it transformed into a market economy in the early 1990s. 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. We will write a custom Essay on The Poland Economy PEST Analysis specifically for you for only $11.00 $9.35/page. IvyPanda. The support offered during the pandemic has been sizeable. Print. Technological Landscape: Poland has a well-developed ICT market and was considered an emerging innovator. In terms of labour costs, Poland is still one of the cheapest countries in Europe. 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. | Published by: MarketLine Poland in the Geographical Centre of Europe: Political, Social and Economic Consequences. The PESTEL . 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.. Szczerbiak, Aleks. a regional office. It can be used in a range of different scenarios, and can guide people professionals and senior managers in strategic decision-making. (2020) 'The Poland Economy' PEST Analysis'. Short-term disruption is leading to a new equilibrium in which Russia will have far less economic leverage over Europe. 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. 2020 Eddusaver.com. You are free to use it for research and reference purposes in order to write your own paper; however, you Please use the form given below to let us know your questions related to this report. a regional office, Can be shared globally by unlimited users within the purchasing corporation e.g. Activate your 30 day free trialto unlock unlimited reading. The current political situation explains why the country continues to have positive economic growth. In 2017, Agriculture industry contributed 2.4% to GDP of Poland. PRESENTATION It will take only 2 minutes to fill in. Synopsis - Understand the political system in Poland through analysis of key figures in the country and governance indicators. 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. Legal environment and its impact on Poland. The constitution of Poland assures the independence of the judiciary. Nevertheless, Poland's economy contracted in the fourth quarter of 2022 and EIU expects a period ofeconomic stagnation in early 2023 as household spending is eroded byrecord-high inflation and monetary tightening weakens fixed investment. The main aim of the national recovery and resilience plan is to introduce reforms for establishing a digital and green economy that is resilient to shocks and potential future crises. 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. Polands growth has been driven by strong domestic demand, dynamic exports, improved productivity, foreign investment, a stable banking system, and a significant inflow of EU cohesion funds. 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 law gives the person in receipt of a bribe immunity from prosecution if they report it to the authorities and assist in the prosecution of the bribe giver. The major challenge affecting the country is the high rate of unemployment. Please choose the suitable license type from above. On the other hand, the company seeks to develop its markets in more stable areas and nations such as China and Poland. 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. Economic. 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. Poland, officially the Republic of Poland, is a country in Central Europe, bordered by Poland to the west; the Czech Republic and Slovakia to the south; Ukraine, Belarus to the east; and the Baltic Sea and Kaliningrad Oblast, which is a Russian exclave and Lithuania to the north. For very many years, Poland failed to provide the best infrastructure for business ethics due to communism. Corruption, poverty, lack of proper legal infrastructure, and the financial crisis continued to affect the country (Szczerbiak 19). Read More. Currently, Poland is doing business with different countries, thus making it an economic powerhouse in the region. This issue is being addressed both by Poland and the UK. In 2020 Poland was ranked 55 out of 179 countries in the Index. Here is a PEST analysis example that can give you a clear understanding of how this works: Political. A PESTLE (Political, Economic, Social, Technological, Legal and Environmental) analysis is designed to map the external factors that are currently impacting or are . In 2007, Poland saw a rapid annual growth rate of 6.5% with an industry growth rate at 10%. 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. You can shop confidently as your online payments are processed using PCI DSS compliant secure payment gateways on our website. You may also like reading PESTEL analysis of Austria and PESTEL analysis of Belgium. Telecommunications, transport, construction, IT, and financial services are some of the sectors that have been booming for quite some time. IvyPanda, 2 June 2020, ivypanda.com/essays/the-poland-economy-pest-analysis/. Life expectancy is 74 years for men, and 82 years for women. Ryan, Leo. 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. It falls under the category of 'environmental analysis', which is to say that it revolves around identifying the various external variables that affect a business's performance.Specifically, these are the Political, Economic, Social (sometimes socio-cultural), Technological, Legal, and Environmental ones . Its results indicate that legal factors are the key for the development of sustainable drainage systems 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). 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 discussion below presents a PEST Analysis for Poland. Poland has developed a network of labour inspectorates. There are many techniques that can be used to help identify what information to collect. Learn how to effectively navigate the market research process to help guide your organization on the journey to success. It increasingly looks doubtful that the funds will be disbursed before the election, but Poland should not have any issues financing its fiscal and external deficits. 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. 1. How does Poland perform in terms of GDP growth, its fiscal situation, international investment position, monetary situation, and employment? Business Intelligence & Marketing Manager, SAL Heavy Lift, Market Analyst & Management, Liebherr-Werk, Marketing Intelligence Manager, Portugal Foods, GlobalData Plc 2023 | Registered Office: John Carpenter House, John Carpenter Street, London, EC4Y 0AN, UK | Registered in England No. Understand the economic situation in Poland through a balanced assessment of core macroeconomic issues. Consequently, many overseas companies outsource software development to Poland (Kulig, 2021). 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. Artificial Intelligence: Leading technology companies, Cybersecurity: Leading technology companies, Electric Vehicles: Leading technology companies, Transportation, Infrastructure and Logistics. In 2020, Poland's GDP contracted by "only" 3.5%, significantly less than the OECD average of 5.5%. 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. 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. As a result, the government has embraced new strategies in order to address most of the ethical and human resource concerns affecting the people. Its GDP per capita went up from 49% of the EU average in 2004 to 73% in 2019 when it stood at USD 15,693. The country continues to attract investors from different parts of the world. The two countries enjoy a growing trading relationship, which was worth 22.2bn in 2019. Politically stable, and member of the European Union and NATO, Poland is quickly catching up with the West. Household consumption, fueled by expected increases in budgetary expenditures, a tight labor market, and rising wages, continues to grow. For that purpose the PESTLE analysis was applied. 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. 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). This report provides PESTLE (political, economic, social, technological, legal and environmental) analysis for Poland. Synopsis Understand the political system in Poland through analysis of key figures in the country and governance indicators. Technological environment is an important issue of discussion in the PESTEL analysis of Poland. all employees of a single company, reportstore@globaldata.comTel +44 (0) 20 7947 2960. Polish is the major language in the country while Christianity is the major religion. April, 2021 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. Warsaw: Oxford University Press, 2011. 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. Social environment and its impact on Poland. The main aim of the plan is to introduce reforms for establishing a digital and green economy that is resilient to shocks and potential future crises. As a result, the citizens began to promote various business activities, thus stimulating economic development. - How does Poland perform in terms of healthcare, income distribution, and education? The European Commission forecasts 3.1% growth in 2021 followed by a stronger 5.1% rebound in 2022. 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. Customers who infringe these license terms are liable for a Global license fee. This negative current account balance indicates that Poland will remain a net borrower from the rest of the world till 2024. How the war in Ukraine affected the EU economy, Europe's new security architecture takes shape, EU policy round-up: migration and Mercosur, Russia suspends participation in New START nuclear treaty, Chinas neutrality on Ukraine will strain ties with West, Europe chart of the week: the EU and electric vehicles. Activate your 30 day free trialto continue reading. Poland is estimated to have population of 37.935 million in the year 2020 and expected to reach 37.767 million by 2024, growing at a CAGR of 0.11%. Poland has a massive broadcasting market. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. The country's risk score is in the low-risk nations band. The History of Poland. They also borrow ideas and skills from new visitors and investors. Poland became a democratic country in 1989. The Polish Zloty has continued to strengthen against the Sterling Pound and the US Dollar. According to the National Bank of Poland, this growth rate of the GPD is due to investment and consumption.Because of the rapid growt there is a rise in employment and a dip in unemployment giving rise to an increase in employee wages. Key foreign investors in 2019 included the Germany, USA, France, and the Netherlands. The country has a population of 38.5 million people. Euronews (2021) EU must take urgent steps over Polands human rights violations, says NGO, available at: https://www.euronews.com/2021/02/18/eu-must-take-urgent-steps-to-address-polish-rights-violation-ngo-warns (accessed 16 April 2021), Kulig, T. (2021) Polands IT industry is booming. 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. Can be shared by unlimited users within one corporate location e.g. Unless a Enterprise License is purchased, a Site User License must be purchased for every corporate location by an organization that wishes to use the publication within the same organization. PEST Examples. Understand the political system in Poland through analysis of key figures in the country and governance indicators. Fiscal health, monetary freedom, trade freedom, and investment freedom are the economic strengths of the country. Poland Within the European Union. 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? Poland was ranked 35th out of 152 nations in the GCRI Q2 2022. The recent economic transformations have made the country successful. Print. 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. Retrieved from https://ivypanda.com/essays/the-poland-economy-pest-analysis/. The population is aging very swiftly and creating massive shortages in the labour market. Transport, travel and tourism, ICT, insurance and finance, automobiles, electronics, cigars, machinery, rubber, petroleum and textiles are major industries of Poland. But you should be alert to the possibility of street crime and petty theft, and that foreigners may appear to be lucrative targets. Do you have more questions related to this market research report after going through the description and table of contents? You have rejected additional cookies. For the latest DIT Poland news, events and business opportunities follow us on Twitter and join the British Embassy in Poland on Facebook. For more insights on this report, download a free report sample, Exhibit 1: Polands performance in terms of its country risk analysis in comparison to East Europe and the World average, Exhibit 2: Performance overview (Score: 1-100), Exhibit 3: Broad categories and weights behind the index, Exhibit 4: Poland stock exchange index WIG index (October 2021 October 2022), Exhibit 5: Key sectors contribution to the economy (2017-24f), Exhibit 6: FDI inflows and outflows (2017-21) and inward FDI stocks by industry (2017-21), Exhibit 7: Cross-border merger and acquisition (M&A) and greenfield investment (2017-21), Exhibit 9: Real GDP and household consumption growth rate (2017-24f), Exhibit 10: Real GDP growth rate comparison (2021), Exhibit 11: Exports, imports and trade balance (2017-2024f), Exhibit 12: Current account balance (2017-24f), Exhibit 13: Top three commodity exports, % of total exports (2018-21), Exhibit 14: Machinery, mechanical appliances, nuclear reactors, boilers, % of worlds total (2021), Exhibit 15: Interest rates (September 2017 September 2022), Exhibit 16: Exchange rate and inflation (2017-24f), Exhibit 18: General government debt (2017-24f), Exhibit 20: Average annual wages (2017-24f), Exhibit 22: Rural/urban share of total population (1995, 2005, 2015, 2025), Exhibit 23: Age-group share of total population (1995, 2005, 2015, 2025), Exhibit 24: Gender split (1995, 2005, 2015, 2025), Exhibit 25: Internet users as a percentage of total population, mobile penetration rate and broadband penetration rate (2021), Exhibit 26: Number of patents granted per million people (2021), Exhibit 27: High-technology exports, % of manufactured exports (2020), Exhibit 28: Doing business in Poland 2020, Exhibit 29: Corruption perception index (rankings) (2021), Exhibit 30: Renewable energy, installed capacity (2016-20). 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