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Two Romanian regions among the best performing in Europe

Good news for Romania as two of their regions have been declared as among the best performing in Europe. The regions of North-West and Bucharest-Ilfov has been considered by Miken Insitute’s Inaugural Best-Performing Cities: Europe 2017 index as best performing in terms of wage, job creation, manufacturing and also a skilled service industry.

The Nort-West region was considered the fifth in Europe, after London, Stockholm, Budapest, and Pomorskie ( Poland). The North-West region of Romania was taken into consideration due to its high-quality high education, among its reputable universities, the research has counted the Technical University in Cluj-Napoca.

North West Romania

JOB GROWTH (2011-2016) 10TH

JOB GROWTH (2015-2016) 93RD

WAGE GROWTH (2008-2013) 95TH

WAGE GROWTH (2012-2013) 6TH

HI-TECH SERVICES GVA GROWTH (2009-2014) 1ST

HI-TECH SERVICES GVA GROWTH (2013-2014) 21ST

HI-TECH SERVICES GVA LQ (2014) 76TH

MANUFACTURING GVA LQ (2014) 20TH

 

ADVANTAGES

  • Local universities, including the Technical University in Cluj-Napoca, are raising the share of the working population with tertiary education.
  • New opportunities are being created in growing high- tech services industries.DISADVANTAGES

    • Further expansion of road and rail infrastructure is needed to effectively connect to the European transportation network.

As well, the high-tech sector, although right now being quite small has known a rapid development and it has contributed to the high ranking of the region. Job growth in this area was ranked on the 10th place in the EU. Bucharest as well has earned its place due to high-tech service sector and due to its well-educated population. Some of the weakness of the region was slow population growth and lack of immigration.

 

 

 

source: romania insider

Read the report here

 

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