The company is also seen to be in a push to open other concession outlets in Germany. The discussion below presents a PEST Analysis for Poland. 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. In terms of labour costs, Poland is still one of the cheapest countries in Europe. 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. The invention of graphene is also a success story for Poland. | Published by: MarketLine 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. Files are delivered directly into your account soon . However, one of the biggest challenges for the country is how to encourage Polish engineers and IT experts to stay in the country, as many of them go abroad for better opportunities. Businesses in Poland make extensive use of security guards, in such cases, a reputable company should be used. Print. Report Code: GDER0026. We use some essential cookies to make this website work. Life expectancy is 74 years for men, and 82 years for women. The two countries enjoy a growing trading relationship, which was worth 22.2bn in 2019. 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. Poland has developed a network of labour inspectorates. GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers. Weaknesses COVID-19 Graphene is a useful compound in the electronics industry because it is a good conductor of electricity (Aghion and Durlauf 38). See the full A-Z list of all CIPD factsheets . PESTLE analysis can be an extremely effective tool in business, if used correctly. Read the information provided on our organised crime page. The last issue to dissect in the PESTEL analysis of Poland is the legal environment. The country faces labour shortages; however, it is largely failing to entice the diaspora to return there. Dont include personal or financial information like your National Insurance number or credit card details. On social issues PiS is conservative, but on economic policy the party has positioned itself to the left. "The Poland Economy' PEST Analysis." June 2, 2020. https://ivypanda.com/essays/the-poland-economy-pest-analysis/. You can use them for inspiration, an insight into a particular topic, a handy source of reference, or even just as a template of a certain type of paper. Unless a Global License is purchased, a Academia License must be purchased for every person that wishes to use the publication within the same organization. Since 1990, the country's economy has been growing "exponentially." How does Poland perform in terms of GDP growth, its fiscal situation, international investment position, monetary situation, and employment? To begin with, Poland has a stable government. 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. For example, the first oil lamp was invented in the country (Zylicz 78). It has a rich history, succulent local cuisine, and a great number of visitor attractions such as mountains, beaches, and forests. Poland pestl analysis 1. You have rejected additional cookies. If you are looking for a market research solution for your research requirements, please begin your search using the search box on top of this page or use our chat system to speak to our market research consultants or directly write to us. Print. Social environment and its impact on Poland. Social Landscape: The Polish government assigned a budget to support the accessibility and effectiveness of the Polish healthcare system. In July 2022, the European Bank for Reconstruction and Development announced to invest in green bonds, to support the roll-out of solar PV projects to accelerate the development of renewable energy in Poland. Joe David has years of teaching experience both in the UK and abroad. There are many techniques that can be used to help identify what information to collect. The strategy attracted new investors and eventually promoted economic development in the country (Czerny 46). Poland will hold a parliamentary election in November, which will be a tightly fought contest between the incumbent Law and Justice (PiS) party and the opposition Civic Platform (PO). IvyPanda, 2 June 2020, ivypanda.com/essays/the-poland-economy-pest-analysis/. The country has a population of 38.5 million people. Poland is the 23rd largest economy in the world. The Polish economy benefits very well from the EU subsidies, remittances from the expatriates working in the EU, and a strong economic environment. Where we have identified any third party copyright information you will need to obtain permission from the copyright holders concerned. Internal divisions will limit progress on strengthening EU defence, ensuring that the US remains a key security partner. It is one of the countries in the EU which was least affected by the global lockdowns in 2020/21. Poland has not signed the Agreement on a Unified Patent Court. Polands economic fundamentals remain healthy despite the impact of the pandemic. PiS programme focuses mainly on domestic issues: increasing social transfers, lowering the retirement age, and supporting domestic industries. Legal environment and its impact on Poland. Telecommunications, transport, construction, IT, and financial services are some of the sectors that have been booming for quite some time. To know more about the Poland macroeconomic outlook, download a free report sample. On the other hand, Poland has a low inflation rate (Aghion and Durlauf 73). 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. This person may print out a single copy of the publication. . Despite strong growth in take-up of EVs, major economies in southern and eastern Europe are set to miss EU targets. Poland in the Geographical Centre of Europe: Political, Social and Economic Consequences. 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. 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. 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. Download our eBook: How to Succeed Using Market Research, Phone: 800.298.5699 (US) or +1.240.747.3093 (Int'l), Hours M-Th 3:00am - 6:30pm EST; F 3:00am - 5:30pm EST, Copyright 1999-2023, All Rights Reserved, MarketResearch.com, Impact of COVID-19 on Hand Sanitizer Market. Poland has become Europes biggest economic success story since it transformed into a market economy in the early 1990s. 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. The current political situation explains why the country continues to have positive economic growth. PEST Analysis, Country Forecast and Other Details. At Market Research Reports, Inc. we aim to make it easier for decision makers to find relevant information and locate right market research reports which can save their time and assist in what they do best, i.e. MarketLine uses the information in this form to provide you with occasional updates on new products and reports in accordance with your preferences. 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). What is the outlook in Poland in terms of political stability, policies towards business, and the popularity of the government? The recent economic transformations have made the country successful. Poland currently holds 40th place globally in World Banks ease of doing business ranking compared to 33rd in 2018. 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. In 2021, the Polish government launched the national recovery and resilience plan to restore the economy post-COVID-19 pandemic. all employees of a single company, reportstore@globaldata.comTel +44 (0) 20 7947 2960. Aghion, Philippe, and Steven Durlauf. In Poland, it is not as much noticeable, and as a consequence, the conventional stormwater system remains the most common method of stormwater management. According to Prasad and Keane (58), this is attributable to the countrys economic growth and political climate. Bilateral relations between Poland and the UK are strong and have evolved into a strategic partnership in recent years. The present report is structured as follows: First, we set the scene regarding 100% decarbonised DHC systems. Poland has become Europe's biggest economic success story since it transformed into a market economy in the early 1990s. 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. 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. 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. Consequently, many overseas companies outsource software development to Poland (Kulig, 2021). London: Author-House, 2006. EY ranked Poland as number seven in Europe in terms of FDI attractiveness in 2019. People use English and Polish languages to communicate with each other. Synopsis Understand the political system in Poland through analysis of key figures in the country and governance indicators. Understand the economic situation in Poland through a balanced assessment of core macroeconomic issues. Discounts available for multiple purchases. We are here to help. These employees of purchasing organization can include information given in the publication in presentations and internal reports by providing full copyright credit to the publisher. - How does Poland perform in terms of GDP growth, its fiscal situation, international investment position, monetary situation, and employment? Print. 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. In 2020, Poland's GDP contracted by "only" 3.5%, significantly less than the OECD average of 5.5%. 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