FASHION OUTLET KRAKÓW

GROWING ECONOMY & TOURISM

Kraków is one of Poland's most important economic centres and the economic hub of the Lesser Poland (Malopolska) region. Following the collapse of communism, the private sector has been growing steadily. There are about 50 large multinational companies in the city, including Google, IBM, Royal Dutch Shell, Motorola, Delphi, MAN SE, General Electric, Aon Hewitt, Hitachi, Philip Morris, Capgemini and Sabre Holdings along with other British, German and Scandinavian-based firms. The city is also the global headquarters for Comarch, a Polish enterprise software house.

In 2005, foreign direct investment in Kraków has reached approximately 3.5 billion USD. Kraków has been trying to position itself as Europe's Silicon Valley, based on the large number of local and foreign high tech companies. 

The unemployment rate in Kraków according the Statistical Office in Kraków was 4.5 percent in November 2015, well below the national average of 9.6 percent as well from Warsaw with 8.4 percent. The purchasing power of people in Kraków is 20% higher than the national average according the Gfk purchasing power index.

Kraków is the second city in Poland (after Warsaw) most often visited by foreigners. According to the World Investment Report 2011 by the UN Conference for Trade and Development (UNCTAD), Kraków is also the most emerging city location for investment in global BPO projects (Business Process Outsourcing) in the world.

Kraków Rondo Business Park

In 2011, the city budget, which is presented by the Mayor of Kraków on 15 November each year, has a projected revenue of 3.5 billion zloty. The primary sources of revenue were as follows: 14% from the municipal taxation on real estate properties and the use of amenities, 30% in transfers from the national budget, and 34% in state subsidies. Projected expenditures, totaling 3.52 billion złoty, included 21% in city development costs and 79% in city maintenance costs. Of the maintenance costs, as much as 39% were spent on education and childcare. City of Kraków development costs included 41% toward road building, transport, and communication (combined), and 25% for the city's infrastructure and environment. The city has a high bond credit rating, and some 60% of its population is below the age of 45.

Cracovia Business Centre

Cracovia Business Centre

KRAKÓW BECOMES EUROPE'S TOP CITY-BREAK DESTINATION

According to the current published statistics of the 26th Tourism Forum in December 2015, Kraków was visited by 10.05 million tourists including 2.6 million foreign travelers in 2015. 

The main developments are:

  • Visitor numbers are up, spending is down, as while tourists spent over PLN 4.45 billion (EUR 1 billion), this was PLN 50 million less than in 2014.

  • Of the 10,050,000 visitors to Kraków, over 7.4 million were Polish tourists, while over 2.6 million were from abroad.

  • Britons made up the largest group of tourists from abroad (15.76 percent), followed by Germans (13.16 percent).

  • There were declines in the number of tourists from Italy (from 10.2 percent in 2014 to 9.38 percent in 2015), Spain (10.8 percent to 7.96 percent) and Ukraine (4.5 percent to 1.63 percent).

  • However, there was an increase in the number of visitors from France (7.1 percent to 8.36 percent), Russia (from 2.9 percent to 4.08 percent), Belgium (from 2 percent to 2.29 percent), Sweden (1.6 percent to 2.75 percent).

Kraków has been awarded by a number of top international rankings such as the 1st place in the Top city break destinations 2014 survey conducted by the British consumer magazine ´Which?´

Visitors praised Krakow for its friendly welcome and for food and drinks which including the traditional ‘bigos’ stew and hazelnut vodka. The city scored a maximum of five stars in both categories. Voters were also asked to give star ratings for accommodation, cultural attractions, the ease of getting around, shopping and value for money. The magazine revealed that the average cost of a double room in the city costs just £55-a-night, while transfer from the airport to the city centre was just 76p. It scored four stars for both cultural attractions and accommodation, with the city’s well-preserved historic buildings and cobbled streets all on Unesco’s World Heritage list. Krakow’s giant underground salt mines outside the city, with their salt sculptures and saline lakes, were also popular attractions with ´Which?´ readers.