Poland has emerged as a dynamic and attractive destination for investment, offering a blend of economic stability, strategic location, and a skilled workforce. As one of the fastest-growing economies in the European Union, the country provides numerous opportunities across various sectors. Poland's robust infrastructure, favorable investment policies, and supportive government initiatives create a conducive environment for both local and international businesses.
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According to Eurostat’s methodology, inflation dropped significantly from 13.2% in 2022 to 10.9% in 2023 (vs. 8.4% and 5.4% for the entire Eurozone), primarily due to energy prices. What's more, the most recent figures from Statistics Poland (GUS) show that inflation in the second quarter of 2024 stood at 1.4%, which was in line with Economist Intelligence Unit (EIU) forecasts and within the National Bank of Poland's target for the year (1.5-3.5%).
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In January 2023, the government raised the gross minimum monthly wage to PLN 3,490, with a second increase in July 2023 to PLN 3,600. The minimum wage was applicable uniformly across all sectors, regions, and occupations nationwide. In 2024, the minimum wage was also increased in two stages. Starting January 1, it was raised to PLN 4,242, and from July, to PLN 4,300.
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In 2023 Poland exported goods are worth EUR 351 billion. The value of imported goods was EUR 340.5 billion. Compared to the previous year, the value of exported goods increased by 2% and imported fell by 6.4%. Most of the trade is carried out between Poland and other EU countries — 74.7% of exports and 55.9% of imports in value terms. The goods that accounted for the largest share of both exports and imports were machinery, equipment, and means of transport.
Report areas
Condition of Poland’s economy
Since transitioning to a market economy, Poland has sustained strong GDP growth above the EU average. Rising wages and consumption make it an appealing consumer market. Major sectors attracting investment include automotive, electronics, business process outsourcing, and renewable energy. With its strategic location, pro-business environment, and promising growth prospects, Poland offers outstanding opportunities for global investors looking to access European markets.
Foreign investment in Poland
Poland has been attracting an increasing amount of direct investment, which is driving economic growth. Despite challenges, such as inflation followed by increased interest rates, M&A activity in emerging Europe has remained resilient. According to Emerging Europe, an information platform focused on emerging markets, Poland is identified as the leader in transactions among 13 developing European economies.
Nearshoring
Nearshoring is becoming an integral part of strategic planning for businesses seeking to build resilient, sustainable, and competitive supply chains in a rapidly changing global landscape. According to the report "Nearshoring: The New Global Landscape," developed by Maersk and Reuters Events, Poland ranks fourth among the most attractive countries for relocating production as part of nearshoring. This means that companies increasingly choose to move their manufacturing facilities from distant locations to countries closer to their markets, such as Poland.
Business Services Sector
Poland is an undisputed leader in the business services sector in CEE, offering a range of attractive benefits to investors planning to establish new SSC and BPO centers. It is one of the most important and fastest-growing sectors in Poland. With over 1,800 centres employing over 430,000 people, the country remains the largest in the region.
ESG
ESG regulations affect many parts of the Polish economy and the introduction of more restrictive regulations regarding greenhouse gas emissions may affect the costs of doing business, especially in sectors generating high emission levels. The country is set to receive significant funds from the EU that will represent a potential influx of capital directed towards ESG-compliant projects.
Legal
Foreign investors in Poland are subject to transparent regulations based on European Union laws, ensuring the protection of their investments. Additionally, companies operating in Poland must comply with data protection laws and environmental regulations, which promote sustainable development and data security.
Tax regulations
The Polish tax authorities hold power to undertake a tax audit in the five years after a tax liability arises and to reassess the amount of that tax liability. Understanding and adhering to these tax regulations is crucial for foreign businesses operating in Poland to ensure compliance and avoid legal issues.
Investment destination
The Polish Investment Zone (PSI) is an investment incentive system that divides the country into seven macro-regions, covering a total of 16 voivodeships. Within the PSI, businesses can benefit from tax reliefs and other investment incentives, the value of which depends on the location of the investment and its impact on regional development.
Poland boasts one of the lowest unemployment rates in the European Union, ranking second among member states, just after Malta. However, this impressive result comes with challenges for the labor market. Historically low unemployment means that employers struggle to find suitable workers, which can limit economic growth potential, hinder business expansion, and negatively impact innovation.
Unemployment rate
Source: KPMG in Poland, based on Eurostat data
The European Bank for Reconstruction and Development (EBRD) significantly increased its investments in Poland in 2023, allocating €1.3 billion, which represents a 31% increase compared to €990 million the previous year. Poland ranked third in terms of funding received from the EBRD in 2023, following Ukraine, which received over €2 billion, and Turkiye, which secured nearly €2.5 billion. A significant portion of the investments in Poland, amounting to 75%, was directed towards green finance initiatives, surpassing the EBRD's minimum target of 50% for new investments. This increase in investment and emphasis on green finance reflect the EBRD's strong commitment to supporting sustainable development and economic transformation in Poland.
Annual EBRD investment in Poland (EUR million)
Source: KPMG in Poland, based on EBRD data (in millions EUR)
Investment in Poland | 2024 Edition
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