Are you looking for some new business ideas for 2014? I’m pretty sure you haven’t considered Central European markets, like Poland. Now let me tell you why you should.
Poland. A country located right in the center of Europe. Bordered by Germany to the west; the Czech Republic and Slovakia to the south; Ukraine, Belarus and Lithuania to the east; and the Baltic Sea and Kaliningrad Oblast, a Russian exclave, to the north.
Here’s a handy map:
This is what a geography teacher or Wikipedia might have to say about Poland. But I’m not a geography teacher nor am I Wikipedia, so let’s get down to business and skip the boring stuff.
Important factor #1: The European Championship in football (or soccer, like Americans like to call it for some reason) – UEFA EURO 2012, was held in Poland. The event kicked off on June 8th in Warsaw.
This might not sound like a business opportunity at first, but it is.
Here’s the thing, football is the most popular sport in Europe, and the championship tournament is the biggest event in Europe. It takes place every 4 years. In 2012 hundreds of thousands of fans visited Poland to support their favorite teams in their quest for the ultimate win. Massive crowds of people in one place are always a great business opportunity.
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Important factor #2: Poland is one of the countries that have dealt with the recent economic crisis best. While others were struggling Poland was still growing. I don’t know why because I’m no economy expert, but the fact remains.
Some more economic properties:
- GDP in Poland: $467.3 billion per year (world rank: 22nd, Q2 2010 estimate).
- GDP at parity: $702.6 billion per year (world rank: 20th, Q2 2010 estimate).
- Real GDP: $546 billion per year (world rank: 18th, price-adjusted to year – 2008 US dollars).
Important factor #3: Population of 38 million people. This makes Poland one of the biggest countries in Europe. Also, since May 1st 2004 Poland is a member of The European Union, so it’s easier for you to do business here due to the open market rules established by the EU.
The only downside for foreign business people looking for some new business ideas for 2014 is the currency. We don’t have Euros in our wallets.
The official currency in Poland is “Polish Złoty” – PLN. 1 PLN equals $0.32. Or in other words: $1 = 3.13 PLN (visit this link for the most recent exchange rates).
You know what? Enough talking, this is starting to get a little boring. Let me show you a cool animation that will do the talking for me.
Presenting: The Animated Guide to Polish Success
So what are you up to in 2014? Got some interesting business ideas?