Positive change and growth rarely happen when we’re comfortable. Being pushed out of our comfort zone is key to seeing opportunity in crisis. A critical aspect of turning crisis into opportunity is training yourself to think long-term.
What is the thing that helps get crises under control and get companies back to prosperity?
Excluding precautions provided by governments and national banks, businesses play an important role with their increasing effectivity of production, which typically happens through discovering completely new ways of enacting business, increasing efficiency, and cutting redundant costs.
Some sharp-witted companies already started to search new locations where they can relocate their companies, search talents, or at least partly outsource operations or services.
You can´t afford to decrease the quality of your product or service, so if just pops up on your mind the traditional low cost but also low-quality reputation ruining locations, forget it. We would like to introduce you to this article outlining the advantage of EU countries located in central Europe - dynamically growing, developed regions that are still underrated.
For reasons of diversity of the central European region we will focus on and refer to the EU central European countries only. What EU countries belong to the Central Europe region? Czechia, Austria, Slovakia, Hungary, Poland and partly Slovenia and Germany. These countries are defined by common historical, social, and cultural identity.
The biggest advantage of Central Europe is a wealth of capable human capital, with well-educated and innovative people having great culture dynamics with other nations. Some of the countries in this region are very technically developed, having a great tradition of tech education. A prime example of this is Czechia.
Even the quality of the human capital is high the average salary in CE is about 18 000EUR/year. This ratio of capability and price of skillful IT experts, scientists, engineers, and economists is a highly valuable factor for both relocation or investment.
Also, the EU funds are the most accessible to Central Europe, thanks to its huge potential and undercapitalization. The EU hugely pumps funds into CE as it is enough developed region in terms of all crucial arias such as structure of economy, business culture, institutional efficiency, openness and low level of corruption, whilst at the same time featuring very dynamic growth. The international institutions and organizations indicate that the Central and Eastern Europe economics are the fastest growing region within the EU.
The industrial sector has a great tradition here, but most occupations are in tertiary, quaternary and quinary sectors. The digitalization is expected being the next growth engine for near future growth and this together with undercapitalization of region makes Central Europe captivating place for investment or relocation.
However, Covid19, the War in Ukraine, and rising inflation have brought many challenges. Central Europe is entering this chapter of the economic cycle prepared and in a health condition.
A presence in one the EU’s Central European countries gives a very smart base with an effective and capable workforce, reasonable cost but still advantage of using all the benefits of EU membership.
Comments