Olsztyn – open waters for investment

With a population of nearly 180,000 residents located in the north-east of Poland, Olsztyn is the capital of Warmia and Masuria Province, a land of a thousand lakes. The city where the famous Polish astronomer Nicolas Copernicus lived and worked, is half way between Warsaw (220m) and Gdańsk (180 km).

Olsztyn has very good transport links with the Russian Kaliningrad enclave (140 km), including the historic city of Kaliningrad. It is here that important national roads no. 16 and 51 cross. The former leads from the west of Poland to the Masurian Lakeland and further to Lithuania and the latter leads to the Kaliningrad District, branching off from Warsaw-Gdańsk national road 7. Olsztyn is also an important rail hub. There is an airport in Olsztyn’s Dajtki suburb, which links the regional capital with other regional airports in Poland and abroad. The concrete 850 m. runway can handle small 10-passenger planes.

Olsztyn is the seat of local government and provincial authorities and civil, economic and administrative law courts. Treasury and Tax Offices as well as Customs Offices are located here. The city has four higher education institutions. Local media, press, radio and television function here.

Olsztyn is a green city, a virtual European garden. It has unique natural strengths, such as a 1,000 ha park – City Forest and a dozen or so lakes within the city’s administrative borders.

Today we are giving you one of the most valuable pieces of land in the Warmia and Masuria capital. We encourage investors to work with us in creating a more complete picture of Olsztyn. Our waters are open to interesting investments!

Polish Market

ECONOMIC MONITOR

download pdf

• ● In December 2009 and January 2010, as in previous months in the second half of 2009, the Polish economy stood out against other countries in terms of GDP growth. Poland’s economic growth was higher than projected and higher than in other European countries.
read more »

• In 2009 construction output increased by 3.7%.
read more »

• Retail sales increase in most product groups.
read more »

• On the Warsaw Stock Exchange, stock prices were very volatile in January 2010.
read more »

• At the end of December 2009 the registered unemployment rate (claimant count rate) amounted to 11.9% versus 11.4% in November.
read more »

• At the end of January the president signed the 2010 budget bill into law. The bill was adopted by the parliament on December 18.
read more »

• In the fourth quarter of 2009 the Polish economy turned out to be more resistant to the global crisis than had been projected and than the economies of Polish neighbours, something which boosts optimism in forecasts for 2010 and the next years.
read more »

PODCAST

• Storm over homoerotic art show at Warsaw’s National Museum

• Poland’s new president Bronislaw Komorowski: a pragmatic, pro-business, euroenthusiast

• Poland and OECD innovation strategy

• How to make the Polish economy more innovative?

• Flooding hits Poland again: lessons for the future

• Does Poland need IMF Flexible Credit Line extension?

WEEKLY MARKET ANALYSIS

Retail sales up again in June
Retail sales growth in nominal terms accelerated in June to 6.4% y-o-y from 4.3% y-o-y in May. The increase was higher than expected. In real terms, retail sales growth accelerated to 4.5% y-o-y from 2.0% y-o-y. June was a consecutive month with retail sales figures stronger than expected, which indicates that consumption is recovering after it slowed significantly at the beginning of the year. Private consumption is driven by an improvement on the labour market coupled with a rise in disposable incomes. In Q2 2010 retail sales grew by around 3% y-o-y in nominal terms and around 1% y-o-y in real terms. On the basis of retail sales and industrial production data, it can be estimated that the GDP growth rate was close to 3%.

MARKET INFO

Sign up to comment on articles or receive newsletter
E-mail
Password