Download PDF: Business Review Magazine February 2024 Issue

The February 2024 issue of Business Review Magazine is now available in digital format, featuring the main cover story titled “Industries to Watch in 2024”. To download the magazine in digital format fill out this form and we’ll make sure to send you a PDF copy.

Editorial: Mixed feelings about 2024

By Anda Sebesi, Editor-in-Chief, Business Review Magazine

“After a strong 5% growth in the first three quarters of 2022, the Romanian economy slowed down, advancing by just 1.4% in the similar period of 2023. High inflation eroded household purchasing power, slowing down consumer spending, which had been the main driver of economic growth in recent years. Even so, Romania’s economy had one of the highest growth rates in the region, estimated to have reached 1.8% by the end of last year. But 2024 will be a challenging year for the local economy, with a series of national elections which will only add to the pressure.

Consumers are feeling the effects of prolonged and combined economic troubles. Purchasing power has declined significantly, as there is a compounding effect of price increases. Real wages have fallen as cost of living rises, further exacerbating the constraints felt by consumers and lengthening the timeline of inflationary impact. Rising food prices are by far the biggest concern among consumers, followed by increasing utility costs and the potential economic downturn. In this context, most consumers are spending more prudently, cutting back on discretionary costs, and seeking the lowest prices. With all this in mind, we’ve dedicated our first cover story of the year to some of the most dynamic sectors in Romania, which should act as driving forces of the local economy this year. Energy, manufacturing, agriculture, real estate, and infrastructure and logistics are the fields with the highest potential to transform current challenges into real business opportunities. And while representatives of companies in these sectors tend to be confident about the evolution of their industries this year, macroeconomic realities may slacken their pace of development. In short, 2024 is a year when businesses will need to stay alert, flexible, open-minded, and innovative.”

In this issue:

• Who’s news:
  • Gabor Mozga is the new CEO of MOL Romania. “The near future marks a significant milestone in MOL Romania’s growth journey.
  • Mircea Tomescu has been appointed eMAG’s Chief Marketing Officer for Romania, Hungary, and Bulgaria.
  • Bogdan Vaduva is the new CFO of eMAG Group.
  • Ramona Livinti is the new CFO of NN Asigurari de Viata.
  • Albin Budinsky will head Hellmann Romania as General Manager.
• EIB signs EUR 40 million loan with Eldrive to expand EV charging stations
• Economic prospects and challenges for CEE countries in 2024
• Artificial intelligence driving innovation in creative industries
• INDUSTRIES TO WATCH IN 2024
• Real estate players to prioritise digital and green transformation in 2024
• Energy sector ready for the green transition
• Romania’s infrastructure in need of substantial overhaul
• A tough year ahead for the manufacturing industry
• A year of innovation and agility in agribusiness
• Romania’s startup ecosystem seeking growth in challenging election year
• Year in review: Romania’s thriving investments in art, heritage, and culture

EDITOR-IN-CHIEF: Anda Sebesi | JOURNALISTS: Aurel Constantin, Mihai Cristea, Miruna Macsim, Romanita Oprea, Oana Vasiliu

CONTRIBUTOR: Ovidiu Posirca

COPY EDITOR: Anca Alexe | PHOTO EDITOR: Mihai Constantineanu | PHOTOS: Dreamstime.com | ART DIRECTOR: Raluca Dumitru

PUBLISHER: Bloc-Notes Media Network ADDRESS: 82-98 Calea Grivitei, 1st floor, Hotspot Workhub, District 1, Bucharest, Romania

SALES & MARKETING MANAGER: Luiza Luca

PRODUCTION: Dan Mitroi | DISTRIBUTION: Eugen Musat

EXECUTIVE DIRECTOR: George Moise | GENERAL MANAGER: Catalin Alistari | USA MANAGER: Oana Molodoi | FOUNDING EDITOR: Bill Avery