by Lesley Lyons

For American companies looking to expand or start business overseas, Poland is a promising place to explore. Located in Central Europe, Poland was the first former Soviet bloc country to shed communist rule and, today, the nation of over 38 million people is enjoying steady growth. With its unique position between “Western Europe” and “Eastern Europe,” Poland offers U.S. companies a central location with access to all major European capital cities, making it easy to engage in business with the rest of the continent.
The largest and most populous of the states to join the European Union (EU) in 2004, Poland has built a stable economy and attracted significant foreign direct investment over the recent past. Despite crisis and recession, Poland’s economy is growing. In fact, Poland has the sixth-largest economy in the EU and is the 21st largest economy in the world. Its Gross Domestic Product (GDP) growth rate has consistently outpaced that of Western European countries and in 2010, doubled to reach 3.8 percent. Poland is expected to continue growing this year at approximately 4 percent.
In addition to an improving GDP, Poland offers U.S. companies:
• A highly educated, talented workforce with solid English language skills
• A rapidly improving infrastructure
• Growing class of consumers who are driving 10 percent annual retail market growth
For all of these reasons and more, the United Nations Conference on Trade and Development (UNCTAD) recently named Poland the sixth most attractive investment location in the world. It’s no wonder that some experts call Poland “the best-kept business secret for U.S. businesses.”
Large U.S. companies such as IBM, 3M, Google, UTC and Pittsburgh Glass Works have already recognized Poland as a lucrative market and a favorable location for business processing centers, including call centers, back-office operations and research centers. With a talented labor force, wage rates among the lowest in the EU, an excellent regional location and a sizeable market, Poland will most likely continue to attract substantial new foreign investment for years to come.

Poland at a Glance

• Population > 38 million
• One of the largest members of the European Union (EU)
• GDP growth doubled in 2010 to reach 3.8%; projections for 2011 are for continued expansion of about 4.0%
• Highly qualified, cost-effective workforce
• Located in Central Europe with easy access to major European cities

Major Industries:
• Agriculture
• Textiles
• Mining
• Services