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Economic
Real Estate: Colliers: Private student housing rental market will grow in the coming years
Tuesday, November 14, 2023
Demand for private student rental housing is growing in the Central and Eastern Europe (CEE) region, in all six major economies of Romania, Hungary, the Czech Republic, Slovakia, Bulgaria and Poland, Colliers consultants note, and this trend attracts the attention of major investors. Until 2021, the Czech Republic and Poland were the main targets of investors, but since last year, some of them have expanded their activities to Romania and Serbia, where they are already ...
Average area of office space transaction, up 35pct, nearing record of 2019
Tuesday, November 14, 2023
The average area of an office space transaction was 1,810 square metres in the first nine months of 2023, the highest level of the last four years and close to that of 2019, when it registered a historical record of 1,900 square meters, according to a survey conducted by a real estate consulting company.Compared to 2022 and 2021, the average area of an office space transaction this year increased by 35%, a dynamic that was reflected in the total leasing activity in ...
Trade: Romanians increasingly more interested in luxury second-hand and vintage clothing
Tuesday, November 14, 2023
Romanians are increasingly choosing to buy second-hand or vintage clothing, including luxury brands such as Dolce Gabbana, Burberry, Gucci or Dior, according to a report published Monday by an online classifieds platform.According to OLX data, by buying pre-loved luxury clothing, consumers are aware of the positive effect they have on the environment and their active role in reducing the fast-fashion phenomenon.Thus, the trade of second-hand products on ...
Retail trade turnover, up 2pct 9 months into 2023
Tuesday, November 14, 2023
The volume of retail trade turnover (excluding trade in motor vehicles and motorcycles) increased in the first nine months of this year, compared to the same period in 2022, both in gross terms, by 2.0%, and in terms of working days and seasonally adjusted series, by 2.2%, the National Institute of Statistics (INS) announced on Wednesday.Thus, the volume of retail trade turnover (excluding motor vehicles and motorcycles), gross series, rose in the first nine months of the ...
The local e-commerce market maintains its growth rate, strongly supported by the end of the year
Tuesday, November 14, 2023
In the first 9 months of this year, PayU GPO Romania, the leader of local online payment market, registered a 25% increase in processed volumes, compared to the reference interval of 2022. From the point of view of the number of transactions it registered 18% more transactions than in the same period last year. The volume of payments made through a single click has an accelerated pace of adoption among online consumers, reaching a share of 46% of the ...
Infrastructure: Romania and EIB sign EUR 600 million finance contract for A7 motorway project
Tuesday, November 14, 2023
The executive approved on Thursday through memorandum, the negotiation of the financing contract between Romania and the European Investment Bank, worth 600 million euro, to support the project for A7 Romania highway – co-financing under the Recovery and Resilience Mechanism B – and its signature."A first finance contract, worth EUR 600 million, was signed between Romania and the EIB on 14 June ...
Tourism : Luxury hotel group Hyatt is looking to open its first hotel in Romania
Tuesday, November 14, 2023
Hyatt envisions to develop a mothership property of the brand in Romania: an upper-scale hotel, featuring around 200 rooms and offering full-service amenities in Bucharest. The group intends to replicate the successful model it established in Bulgaria, which is Hyatt's largest Eastern European market to date. 2022 marked Hyatt’s sixth consecutive year as the ...
Cars: New vehicle registrations, up by 14.7 pct in Romania, in first ten months
Tuesday, November 7, 2023
New vehicle registrations increased by 14.7% in the first ten months of this year, compared to the similar period in 2022, to 121,404 units, according to the data of the Romanian Automobile Manufacturers Association (ACAROM), published on last Thursday.The ranking for new car registrations, between January and October, has Dacia in the first position - with 39,072 units, followed by Renault (9,030), Toyota (8,875), Skoda (8,871), Volkswagen (8,559), ...
Second-hand vehicles, newly registered in Romania, held almost 68 pct of total registrations in Q3
Tuesday, November 7, 2023
New registrations of passenger road vehicles fell by 3.8% in the third quarter of this year compared to the same period in 2022, while new registrations of imported used cars, total new car registrations, remained increased, by 67.9%, according to the data from the National Institute of Statistics (INS), published on Friday.According to official statistics, in the reference period, new registrations of road vehicles for the transport of passengers ...
Tourism: More than 430,000 Romanian tourists spent vacations in Turkey
Tuesday, November 7, 2023
More than 430,000 Romanian tourists spent their vacations on the Turkish littoral in the resorts of Antalya, Belek, Side or Alanya, said Alin Burcea, the owner of the travel agency Paralela 45. According to it, data centralized by Antalya Airport show an increase of over 160,000 people compared to 2019, which was considered the best year for tourism in ...
Hotel investment in six CEE countries up 74% in first half of 2023
Tuesday, November 7, 2023
The activity of hotel investments in the region of Central and Eastern Europe (CEE) – Poland, the Czech Republic, Romania, Hungary, Bulgaria, Slovakia – has increased by 7% between June 2022 and June 2023, against the previous interval of twelve months, up to a value of 464 million euro, a specialty analysis shows.The centralized data by the consultants Cushman&Wakefield and CMS show the fact ...
Almost 11 million people arrive in tourist accommodation facilities in Romania in the first nine months
Tuesday, November 7, 2023
More than 10.7 million people arrived in tourist accommodation facilities in Romania (including apartments and rooms for rent) in the first nine months of the year, up 12.1% compared to the same period in 2022, while the number of overnight stays rose by 11.5% to 23.324 million people, according to data published Thursday by the National Institute of Statistics (INS).Arrivals of Romanian tourists in tourist accommodation facilities between January 1 and ...
Agriculture: Recovery plan to finance pasture afforestation
Tuesday, November 7, 2023
Pastureland has been included in the category of agricultural land eligible for afforestation using funds from the recovery plan, according to an emergency decree issued by the Romanian government on Thursday, which “rectifies” parliament’s earlier removal of pastureland as an eligible category. This comes after an earlier parliament decision had removed pastures from the list of ...
MADR official: Overall use of chemicals in Romanian agriculture far from extensive
Tuesday, November 7, 2023
In Romania, the use of chemicals in agriculture isn't that extensive in comparison to other countries, but there is a problem with the storage of farm waste, public manager with the Ministry of Agriculture and Rural Development (MADR) Cristian Georgescu told a specialist conference on Wednesday."What the Agriculture Ministry is implementing through the Strategic Plan 2023-2027 is a public policy. What I can tell you is that, compared to the ...
Infrastructure: TAROM flying to 69 destinations in the 2023/2024 winter season
Tuesday, November 7, 2023
Romania's TAROM national airline and its partners will be flying to 69 destinations in the 2023/2024 winter season and to 27 destinations it operates its own aircraft, totalling 247 weekly flights.TAROM will operate daily flights to London and Madrid, and six weekly flights to Brussels, Athens and Tel Aviv. For safety reasons, the flights to Tel Aviv are suspended until November 21, 2023, after which the resumption of commercial operations will be analysed ...
DAN AIR Relocates Flights From Brasov To Bacau
Tuesday, November 7, 2023
DAN AIR has made the decision to temporarily cease its flight operations at Brasov’s Ghimbav International Airport. This move comes in light of an announcement made by the Brasov airport on October 30, 2023, stating that the extension of its operating hours from 12 to 16 hours will only take effect on January 15, 2024. Consequently, the restricted schedule, inadequate airport facilities essential ...
Trade: About half of retail and FMCG managers anticipate a drop of number of jobs in the field in 2024
Tuesday, November 7, 2023
About half of managers in retail and consumer goods industry (FMCG) consider the number of jobs will drop in 2024, while six out of ten (58%) want a change of the organizing climate, according to a specialized study. According to data analysed by Pronext, 12% of retail and FMCG professionals declare optimistic and say next year will bring more job ...
Real estate: Rent prices for new houses went up this year
Tuesday, November 7, 2023
The rent market records increases every month and higher price differences between new and old houses. This year there is an increase of 5% to 7% in favor of new houses, according to an analysis made by a real estate developer, in collaboration with a consulting company. According to Eden Capital Development and Oana Ivan & Associates data, considering new residential projects against older ones, ...
Infrastructure: HiSky launches new flight, to Frankfurt, reaches 10 destinations operated regularly from Otopeni airport
Tuesday, October 31, 2023
The HiSky airline reaches 10 regularly operated destinations from Otopeni airport, after a new route, Bucharest - Frankfurt, will be available from December 17, at prices starting from 79 euros/segment.According to a press release from the company, delivered on Tuesday, in the winter season, passengers who choose a flight from the capital to Germany will have several travel options. Frankfurt is the newest destination that HiSky introduces to ...
Wizz Air inaugurates two new routes, from Bucharest to Thessaloniki, Tirana, resumes Craiova-Dortmund flight
Tuesday, October 31, 2023
Wizz Air inaugurates a new route on Monday, from Bucharest to Thessaloniki, and resumes operations from Craiova to Dortmund, while on Sunday the company launched another new flight, from the Capital City Bucharest to Tirana, the company informs.According to a press release sent on Monday, as of October 29, Romanians is able ...