PEST Analysis
Political factors: As Poland became member of the European Union it became more attractive for foreign investors, especially it became easier to invest for members of the EU community. Poland is a democratic state with market economics.
Being member of the EU, Poland receives grants from it. Political situation is stable. No revolutions, wars, strikes or terroristic attacks happen in Poland, that fact makes it additionally attractive for the investors.Entrance to the EU zone obliged Poland to follow range of concluded by European Community trade agreements, safety standards. Also common trade policy of the EU member made it change customs rates, influenced on export policies, conclusion of customs and trade agreements, measures intended to protect trade, when dumping occurs. Basically Poland became a party of all international customs and trade agreements concluded by European Community.
Economic fac
...tors: Poland is the biggest economy among the EU new members.Among all the EU members only Polish economics showed positive development in the crisis times. GDP grows rapidly. Situation on labour market improves. Polish currency (zloty) is comparatively strong and stable. The number of unemployment increases, there is a slight increase of average employment.
Domestic demand grows. Taxation policies are quite close to other countries of the European Union. It is planned to adopt euro which allows Poland be more integrated in economical system of the European Union.
Social factors:As many Poles claim, financial standing didn’t change a lot within last year. Within last 10 years lifestyle of the majority of the population changed a lot. Polish standards of living are going up.
Urban population forms 61% of the whole population. Literacy in Poland reaches almost 100%.
Technological factors: Within last three years usage
of Internet has been increased twice. Now it makes around 60% of the population. Innovations in technological sphere appear quite fast in the country.
Poland is a part of global communication.All the factors mentioned above show that there are favourable conditions for investment in Poland. Consumer demand is high and it grows. Access to new technologies is not difficult. Being one of the biggest economics in Eastern Europe with positive economic indexes (especially against the background of the other countries of the region) makes Poland very attractive for investments. As statistics shows there is a big trust to banks in the country.
Such products as e-accounts and payment cards are increasingly popular.
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