Bucharest, the cities which generates 20% of GDP is the best Romanian city for business, according to a classification made by Forbes Romania magazine.Timisoara ranks second, followed by Cluj Napoca, Ploiesti and Oradea.The top 10 cities continues with Constanta, Sibiu, Brasov, Pitesti and Arad.The economic importance of the Capital – it concentrates 24% of active retailers in Romania and 21% of employees at national level- is one of the things that has contributed to drawing up the final hierarchy. In general Bucharest ranks first for most criteria taken into account to establish the top, say Forbes Romania representatives.
Five criteria refer to quantity: regional GDP, GDP per capita, average net wages, unemployment and foreign investments. Five other criteria include: existence of infrastructure, residential stock, business poles, education facilities with impact in the labor market and opening of local authorities toward investors.
In Bucharest, per capita GDP is 16,717 euro, the net average salary is 2,470 lei, regional GDP is 148.9 billion lei and the average number of employees is 822,000.
In Timis county, per capita GDP is 10,711 euro, the net average salary is 1,772 lei, regional GDP 32.6billion lei, the average number of employees – 210,100.Timisoara is the most economically developed city after Bucharest and accent is laid on attracting foreign investments.The Italians are the most numerous foreign investors in Timisoara, but the Americans are the first for value of foreign capital, Forbes Romania says.
In Cluj county per capita GDP is 7,227 euro, net average salary is 1,796 lei, regional GDP 22.2 billion lei, while the average number of employees is 187,200.Companies in the field of IT technology are the best ambassador of Cluj economy , the Forbes analysis shows.
Ploiesti is considered the “black gold” city as the largest oil quantities in Romania are extracted in Prahova county.Economic development was possible because of state aid, Forbes journalists note.
Prahova county has a per capita GDP of 6,426 euro, 1,677 lei net average salary, 22.8 billion lei regional GDP and an average number of employees of 162,100.
Oradea has developed lately thanks to European money coming from structural funds and private investments. Now Oradea ranks fifth in the top of best cities for business in Romania. Bihor county has per capita GDP of 6,384 euro, net average salary of 1,214 lei, regional GDP of 16.7 billion lei and an average number of 257,200 employees.