Romania is the European market with the highest retail market growth in the last ten years, by 123% between 2000 and 2010, with consultants saying the market's potential continues to be one of the biggest, comparable only to that of Bulgaria, Poland and the Baltic states (Estonia, Latvia and Lithuania).
The value of the retail market in Romania, estimated at 22 billion euros in 2010, will increase by 62% over the next ten years, while in countries such as Portugal, Spain, Italy and Greece, the rise will only amount to around 10%, according to a study of Oxford Economics quoted in a report of real estate consultancy King Sturge.
"Less mature markets such as Romania, Bulgaria and the Baltic States are forecast to see retail sales grow by more than 60% over the next decade, with larger markets such as Poland, Czech Republic and Hungary all poised for growth of more than 40%," say the authors of the study.
At the beginning of this year a series of real estate developers have started investments of millions of euros in cities such as Bucharest, Craiova, Oradea and Constanţa, amid demand from strong European retailers, who are counting on Romania in the long term. Big Romanian cities with an over 60% growth potential are Bucharest, Piteşti and Timişoara, while in Iaşi, Cluj-Napoca, Brăila and Braşov, the market has a potential to grow by over 50%, according to the same study.
Romania is the European market with the highest retail market growth in the last ten years, by 123% between 2000 and 2010, with consultants saying the market's potential continues to be one of the biggest, comparable only to that of Bulgaria, Poland and the Baltic states (Estonia, Latvia and Lithuania).
The value of the retail market in Romania, estimated at 22 billion euros in 2010, will increase by 62% over the next ten years, while in countries such as Portugal,
