Economy
20:57 11 August 2020
Post by: WBJ

Polish economy returns to pre-pandemic state faster than German and Italian

Polish economy returns to pre-pandemic state faster than German and Italian
Source: Pikrepo

Warsaw received a grade of "3" on a 5-point scale assessing the speed of the economy and the city's condition returning to the pre-epidemic state. Warsaw was the best in the economic area, ahead of cities such as Frankfurt, Milan, Stockholm and Dublin. In the transport industry, the capital is doing better than e.g. Frankfurt and Madrid. according to the CBRE report ‘Global City Profile. Recovery and Market Outlook 2020’. European cities are the least successful  in tourism. Only London got three and the rest of the cities got two.

The CBRE report assessed the return of the economy to the state from before social isolation in nine European cities: London, Paris, Frankfurt, Madrid, Amsterdam, Milan, Stockholm, Dublin and Warsaw on a 5-point scale. All these places scored an average of "3". The differences were highlighted in specific indicators such as: economy, transport, tourism, return to office, and trade and entertainment.

"The defrosting of other branches of the Polish economy has been going on since April and, as our research shows, we are coping with this process quite well. Numerous studies show that entrepreneurs assess their financial liquidity better and better. The COVID-19 EFL Barometer shows, among others that already in May, in sectors such as services, transport and HoReCa, which were heavily affected by the restrictions, the mood began to improve. It is true that there is no return to normalcy, because it is a long-term process that may take up to several years, but you can see that we are on the right track. Of course, the coming months and the development of the coronavirus epidemic will have a huge impact on what will happen," Joanna Mroczek, head of the Market Research and Consulting departments as well as in Poland and the CEE region at CBRE, said.

(WBJ)


poland
warsaw
cbre
recovery

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