Since the 2004 enlargement, CEE has been the fastest growing region in the European Union, with a growth rate of 4.2 percent in H1 2018, double the EU average.
“Over the last 10 years, Central and Eastern Europe has evolved from an emerging market to one that is now increasingly regarded as mature. The recent upgrade of Poland by FTSE Russell to “developed market” status in its 2018 classification is an example of CEE countries being regarded as on a par with US, the UK and Germany. It’s great news for the whole region and how it’s perceived internationally. For the commercial real estate sector, CEE has been a key target for several years now. It’s a profitable, safe and stable region for doing business,” says Adrian Karczewicz, head of Divestments at Skanska’s commercial development business in CEE.
Labor market, the road to a knowledge-based economy
At the same time, CEE is in the midst of a very important business transition: from economic growth which is based on wage competitiveness to growth which is based on knowledge.
This upgrading process can be seen in the demand for skills. The number of jobs requiring high-level expertise is growing fastest in CEE, whereas the demand for jobs which only require elementary capabilities is stagnating.
(source: business review)