Forbes: Best Romanian cities to do business in

Bucharest, the city that generates 20 percent of the country’s GDP, is the best city in Romania for business, according to a ranking by Forbes Romania.

Timisoara comes in second, followed by Cluj-Napoca, Ploiesti and Oradea. The top 10 of the best cities in Romania to do business is completed by Constanta, Sibiu, Brasov, Pitesti and Arad.

“The economic importance of the capital attracts 24% of Romania’s active retailers and 21% of the total number of employees at a national level. In general, Bucharest comes in first in most of the factors that are relevant for the ranking”, according to the Forbes Romania representatives.

Five of the criteria are quantitative: regional GDP, GDP per inhabitant, average salary, unemployment and investments. Five other criteria include the presence of infrastructure, residential reserves, business poles, educational facilities with an impact on the labor market and the openness of authorities towards investors.

In Bucharest, the GDP/inhabitant has a value of EUR 16.717, the average salary is RON 2.470, the regional GDP amounts to RON 148.9 million and the average number of employees is 822.000

Timis county

The GDP/inhabitant – EUR 10.711,

Average salary is RON 1.772,

Regional GDP – RON 32.6 billion

Average number of employees is 210.100.

Timisoara is the most developed city, economically, after Bucharest and the authorities insisted on attracting foreign investments.

“Italians represent the biggest group of foreign investors in Timisoara, and Americans come in first at the value of foreign capital brought to the city”, according to Forbes Romania.

Cluj-Napoca

GDP/inhabitant: EUR 7,227

Average salary: RON 1,796

Regional GDP: RON 22.1 billion

Number of employees:187,200

“The IT companies are the best ambassador of Cluj’s economy”, writes Forbes.

Prahova county

GDP/inhabitant: EUR 6,426

Average salary: RON 1,677

Regional GDP: RON 22.8 billion

Number of employees:162,100

Ploiesti is considered the “black gold city”, since Prahova holds Romania’s biggest oil reserves. Its economic development was also helped by the State.

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