Following EU accession this January, Romania’s economy continues to surge and is now regarded as one of the strongest and most promising in Eastern Europe. Over recent years, inflation has fallen from formerly astronomical levels, unemployment is low (6.5% in 2005), interest rates have been dropping and GDP is growing at a rate of 4.9%. Crucially the country also receives significant & growing levels of FDI, receiving US $9.1 bn of foreign investment in 2006. Several multinational companies such as Renault, Wrigleys, Deloitte & Touche have already taken advantage of the country’s positive economic environment, motivated educated labour pool and attractive flat tax of 16% by re-locating to the country’s main cities. Romania is also currently the highest recipient of EU Structural Funds and by 2013 expects to receive €30bn in EU funding, a result of which the country’s infrastructure is improving rapidly.

Bucharest

Enjoying wide boulevards, neoclassical public buildings and ornate private villas, Bucharest was once known as the ‘Paris of the East’ and is an important tourist destination for the Romanian economy. More importantly for investors, the large number of multinational companies in the capital mean strong rental potential, with 5% net yields currently achieved. Multinational IT and software companies such as IBM, Microsoft, Oracle and Sun Microsystems have all located European headquarters in Bucharest. Bucharest is Romania’s financial and economic core and currently contributes to 21% of the country’s GDP each year. As such it plays a vital role in enhancing the country’s economic appeal and is therefore a primary investment destination. Eastern Bucharest specifically offers a prime suburb for the aspiring middle class, with developing facilities & amenities, excellent transport links to the centre and business parks and being the location for Southeast Europe’s largest logistics park linking with the ever-busier.

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