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Economic
Trade: The Romanian toy market, record level of over RON 1.7 billion in 2022
Tuesday, June 6, 2023
The turnover of the Romanian toy market (manufacturing & trade) increased by 14% compared to 2020 and was almost 8 times larger than in 2012, at the highest level in history, of over 1.5 billion lei in 2021. “For 2022, we estimate the continued growth of the toy market above the European average and exceeding the historical maximum reached in 2021, to more than 1.7 billion lei, based on the expansion of the ...
Real Estate: The expansion of logistics companies sustained the demand for warehouse spaces in Q1
Tuesday, June 6, 2023
The expansion of logistics companies sustained the demand for warehouse spaces in Romania, a demand which totaled more than 330,000 sq. m in Q1 2023, a 10% increase compared with the same period of last year, according to the Cushman & Wakefield Echinox real estate consultancy company. Romania and Hungary are the only countries in the Central and Eastern Europe where the take-up had a positive evolution in Q1, with decreases ranging between 20% and 50% being recorded in ...
”Cold shell” office rentals can reduce companies’ fit-out costs by at least 5-10% compared to ”warm shell” spaces
Tuesday, June 6, 2023
More and more office building developers begin to deliver to tenants unequipped, ”cold shell” space without fixtures and finishes, observe consultants Colliers, who explain the new trend in the office sector by the fact that it has become very rare for prospective tenants to use the space taken over exactly as it is fitted out by the landlord, i.e. in ”warm shell” format. In practice, most tenants ...
The office market in Q1 2023: Bucharest attracts three quarters of the demand
Tuesday, June 6, 2023
The largest modern office market was in Bucharest, where companies leased 75% of the total office space traded in the first quarter of the year, according to a study by Fortim Trusted Advisors, a member of the BNP Paribas Real Estate Alliance. The rest ...
Tourism: Viscri village stormed by tourists before King Charles III's visit
Tuesday, June 6, 2023
The famous village of Viscri in Transylvania was one of the most successful destinations for the short June 1 holiday. Locals have been preparing to boost tourists' expectations, as they were all expecting a special visitor: King Charles III. “One of King Charles' passions is patrimony and crafts and his house was opened to highlight these passions,” says Mihai Grigore, the administrator of the king's ...
Cars: New cars market in Romania – last in Europe reported to number of people
Tuesday, June 6, 2023
Romania is at the level of developing countries in point of car markets and has a long way ahead before reaching the number of new cars bought in western European countries. 2022 data analyzed by Profit.ro show that only Bulgaria is behind Romania, while Serbia and Albania have worse results, from among communist countries. Romanians bought about 130,000 new cars, a volume 7% higher than in 2021, but is far from the tops reached by Romania in 2007-2008, before the ...
Real Estate: Over 58% of homes sold in Romania in Q1 were bought in cash
Tuesday, May 30, 2023
Over 58.2% of homes sold in Romania in the first quarter of 2023 were bought with funds exclusively from own resources, without resorting to a mortgage financing, reveals a market report issued by real estate consultant SVN Romania, based on the statistics of the National Agency for Cadastre and Real Estate Advertising (ANCPI). Thus, the proportion of homes sold at a ...
Trade: Chocolate market in Romania could grow by 10% in next 3-4 years
Tuesday, May 30, 2023
The chocolate market in Romania, currently around 52,000 tons, has a huge development potential, and estimates show that it could grow by approximately 10% in the next 3-4 years, according to a relevant study presented at the "Chocolate Saga Festival" Fair, an event taking place between May 26-28, in Bucharest.Although the current economic context is still uncertain for the food industry, chocolate consumption has reached its pre-pandemic value as ...
Healthcare: HealthMin Rafila: Use of biosimilars is essential, improves access to treatment for more patients
Tuesday, May 30, 2023
The use of biosimilar medicines is essential because it improves access to medicines and produces money savings that can be used to expand existing programmes and give more patients access to treatment, Health Minister Alexandru Rafila said on Wednesday.Health Minister Alexandru Rafila spoke via a recording at the roundtable "Patients in Romania will have increased access to biological medicines" organised by the Association of Generic Medicines ...
Government approves national investment programme to consolidate hospitals
Tuesday, May 30, 2023
The Government approved on Friday, at the proposal of the Ministry of Development, Public Works and Administration (MDLPA), the National Investment Programme for the consolidation of "Mihail Cantacuzino" hospitals and the National Programme for the expertise of public buildings at seismic risk in the health and education systems."Following the approval of the national investment programme 'Safe and Healthy Schools', which is aimed at the buildings in ...
Telecom. IT: Google opens Google Lab within the Politehnica University of Bucharest
Tuesday, May 30, 2023
Google announces the opening of Google Lab at the Politehnica University of Bucharest, within the Faculty of Automation and Computing. Google Lab is a hub for students who want to develop their programming and digital product development skills, as well as those who want to become entrepreneurs and technology specialists. Through Google Lab, Polytechnic students will have access to courses and ...
Cyber attacks on critical infrastructures can impact economy, everyday life
Tuesday, May 30, 2023
Cyber attacks on critical infrastructures can have devastating consequences, affecting not just the economy, but everyday life as well, general director of the National Institute for Research and Development in Informatics (ICI Bucharest) Adrian-Victor Vevera told the CyberCon Romania 2023 conference."Critical infrastructures, telecommunications, transport, financial and health systems, are at the heart of the functioning of modern society. Cyber ...
Tourism : Hotel occupancy rate in Bucharest up 33pct in Quarter 1 of 2023
Tuesday, May 30, 2023
The occupancy rate of hotels in Bucharest was 62pct in Quarter 1, up 33pct compared to the same period last year, and only 5pct below the level of 2019, the year before the pandemic, according to data issued by a real estate consulting company.Relative to the region, Bucharest had the second highest hotel occupancy rate, just behind Warsaw, but above Budapest, Bratislava, Prague and Sofia.According to Bucharest hoteliers, this year's performance ...
Pestera Wellness & Spa Hotel, a new 5-star hotel in Romania
Tuesday, May 30, 2023
Tourists looking for luxury locations in the middle of the mountains will have, from the summer of 2024, a new destination in Romania. Pestera Wellness & Spa will be a 5-star hotel, located next to the current Pestera Hotel in the Pestera-Padina tourist resort, Bucegi Mountains. The architecture project started in the summer of 2020, and the owners estimate that they will invest around 15 million euros to ensure the ...
Infrastructure: CNAB: Aircraft parking area 10% larger
Tuesday, May 23, 2023
Bucharest National Airport Company (CNAB) initiated the reception procedure for the completion of extension works by 16,000 square meters of no.1 embarking-disembarking platform at “Henri Coanda” International Airport, Bucharest, which pratically means a 10% increase of aircraft parking area, said Valentin Iordache, spokesman for CNAB, on Wednesday. “We are speaking about an extension ...
After 11 years, Aeroitalia is the first airline to operate regular flights from Baneasa Airport
Tuesday, May 23, 2023
The new Italian airline Aeroitalia is the first one to operate regular flights from the Baneasa Airport, four times a week, to Rome Fiumicino airport, at prices starting at 39.99 EUR per segment, sales coordinator Adrian Duru announced on Thursday.The company will also fly from Bacau airport on the same route, three times a week.According to him, the airline will start operations in Bucharest on June 2 and will fly to Rome Fiumicino four times a ...
Cars: Turnover in motor vehicles and motorcycles' trade increased by 17.5% in Q1 2023
Tuesday, May 23, 2023
The volume of turnover in the trade in motor vehicles and motorcycles increased in the first three months of this year both as a gross series by 17.5%, and as a series adjusted according to the number of working days and seasonality by 14.6%, compared to the corresponding period of last year, according to the data from the National Institute of Statistics published on last Thursday.In gross series, the advance of the turnover was influenced by ...
Agriculture: Romania imported farm produce and food of 770 million euros from Italy in 2022
Tuesday, May 23, 2023
Romania imported, last year, farm produce and food of over 770 million euros from Italy, on the rise by 21.5% , compared to the previous year, 82% of them being processed food and beverages. According to a press release of the Italian Agency for Foreign Trade, the main Italian produce imported by Romania in 2022 were dairy products and cheeses (72.4 million euros), coffee (69.5 million euros), bakery ...
Romania is EU leader for number of beehives, representing a fifth of total
Tuesday, May 23, 2023
In 2020 there were 8.1 million beehives in EU and 18.5% of them were in Romania, according to data released by Eurostat on Friday. According to those data, Romania had at national level, in 2020, 1.5 million beehives, more than in any EU member country. Itwas followed by Italy and Greece, both with 1 million beehives each, Spain and Bulgaria with 900,000 beehives each and Portugal with 700,000 ...
Irrigation pilot project in REPowerEU, with floating solar panels and investments in pumping equipment
Tuesday, May 23, 2023
The delegation of the Ministry of Investments and European Projects agreed with officials from Brussels that in REpowerEU there should be a pilot project in irrigation, which would include floating solar panels and investments in pumping equipment, according to minister Marcel Bolos."Following the discussions these days in Brussels, we have agreed to have in REPowerEU a pilot project in irrigation that will include floating solar panels and investments in ...