Purchasing power in Romania grew 2018 vs 2017
Purchasing power in Romania grew 18% in 2018, to EUR 5,083, from EUR 4,556 in 2017, and EUR 4,181 in 2016, but gaps between counties have widened, a study by GfK showed Wednesday
The richest areas are the capital, Bucharest, and counties Cluj, Timis and Ilfov, where purchasing power is at least 20% higher than the national average. At the opposite end, the poorest counties are Botosani, Vaslui, Calarasi and Giurgiu, where the annual disposable income per capita is up to 72% below the national average.
In general, cities outside Bucharest develop on a cheap and educated workforce. Industries that have found the best opportunities in regional cities are automotive, IT and business services.
Another major factor for development is transport infrastructure.
According to GfK, cities Sibiu, Brasov, Arad, Constanta and Alba Iulia will soon develop at a higher rate than Bucharest due to infrastructure and university centers to educate the workforce. Not least, another factor for local development is cost dynamics, as classical development areas become expensive for investors (Cluj currently has the most expensive lands for industrial spaces in Romania), which drives investment towards less explored areas in the country.