City Profile - Bucharest; Comprehensive overview of the city, PEST analysis and analysis of key industries including technology, tourism and hospitality, construction and retail

City Profile - Bucharest; Comprehensive overview of the city, PEST analysis and analysis of key industries including technology, tourism and hospitality, construction and retail

Summary

“City Profile - Bucharest” provides historical and forecast data on key city level metrics along with analytical coverage of the latest political, economic, social, technological, infrastructural, legal and environmental issues affecting Bucharest. The report contains detailed tourism, retail, construction, technology and public infrastructure data and insight into economic, social, and industry trends.Bucharest has a pivotal role in the country’s economy and the Bucharest metropolitan area accounting for 28.4% to the country’s GDP in 2023. The area’s economic growth moderated to 2.3% in 2023 due to inflation, reduced external demand, and structural challenges. Economic growth is expected to recover in 2024, driven by private consumption and EU-funded investment.Scope

• The service sector remains the key contributor to Bucharest metropolitan area’s economy and the major employer.
• Tourism plays a vital role in Bucharest’s economy. Post-pandemic recovery led to a 63.5% rise in tourist arrivals in 2022 marking still below pre-pandemic levels. Bucharest launched a tourism promotion strategy (2022-27) to revitalize the sector, improve marketing, and enhance infrastructure.
• Bucharest metropolitan area’s construction sector grew by 12.9% in 2023 backed by government initiatives such as the First Home Programme and EU funding. In addition, future projects of the expansion of Metro Line-IV ($1.9 billion) and a high-speed railway between Bucharest and Budapest ($10.8 billion) will underpin continued development.

Reasons to Buy

• Gain a comprehensive knowledge of future economic and demographic trends and understand the performance of various sectors within the city.
• Analyze and understand the business environment in the city to align your investment and expansion strategies.
• The report helps to drive a conclusion in choosing a suitable city to invest or expand according to your business structure.
• Explore new opportunities in the hospitality, tourism, construction, real estate and retail sectors.