- Posted by: RISE Consortium
- Category: Business plans, Competitive research, Economics, Funding trends, Innovation, International

1. Access to Markets
Romanian cities have access to one of the largest markets in the World. As a point of comparison, Italy, one of Romania’s key trade partners, consumes more every year than all of India.
Population | Consumption | |||||
(in billion) | % of World Population | (in trillion) | % of World Consumption | Consumption per Capita | ||
World | 7.26 | 100% | $55.04 | 100% | $7,581 | |
United States | 0.32 | 4.4% | $13.77 | 25.0% | $42,835 | |
European Union | 0.51 | 7.0% | $13.70 | 24.9% | $26,946 | |
Japan | 0.13 | 1.7% | $4.47 | 8.1% | $35,242 | |
China | 1.37 | 18.9% | $4.34 | 7.9% | $3,169 | |
India | 1.31 | 18.1% | $1.49 | 2.7% | $1,134 | |
The Rest of the World | 3.62 | 49.9% | $17.27 | 31.4% | $4,768 |
Source: World Bank
2. Fast Economic Growth
Romanian cities are the fastest growing in the EU.
GDP per Capita (PPP) Growth between 2000 and 2013
3. Rapidly Improving Connectivity
Romanian cities have one of the fastest improving connectivity rates in the World. Airport traffic has grown dramatically for most major airports in Romania, and almost every airport in Romania has benefited from investments and improvements in recent years. The highway network is growing too.
Passenger numbers for Romania’s main airports
2005 | 2016 | Compound Annual Growth Rate | |
Bucharest | 2,972,799 | 10,981,652 | 12.6% |
Cluj-Napoca | 202,556 | 1,880,319 | 22.5% |
Timișoara | 611,705 | 1,160,482 | 6.0% |
Iași | 41,960 | 881,157 | 31.9% |
Bacău | 36,261 | 414,676 | 24.8% |
Târgu Mureș | 12,408 | 287,412 | 33.1% |
Sibiu | 45,494 | 366,065 | 20.9% |
Craiova | 5,133 | 222,320 | 40.9% |
Source: Individual airport webpages |
4. Success Story
Companies have been thriving in Romanian cities. Firm revenues have been growing at a rapid pace in almost every major city in Romania.
Firm Revenues in 2011 | Firm Revenues in 2015 | CAGR 2011-2015 | |
TARGU JIU | € 525,015,488 | € 1,199,270,494 | 22.94% |
CRAIOVA | € 2,216,442,353 | € 3,473,076,283 | 11.88% |
SUCEAVA | € 561,613,684 | € 863,541,352 | 11.36% |
IASI | € 1,963,443,453 | € 2,928,990,623 | 10.52% |
PITESTI | € 1,951,752,262 | € 2,816,041,305 | 9.60% |
BOTOSANI | € 630,018,495 | € 901,948,278 | 9.38% |
CLUJ-NAPOCA | € 5,052,009,718 | € 7,226,366,735 | 9.36% |
BAIA MARE | € 1,130,453,911 | € 1,612,595,406 | 9.29% |
PIATRA NEAMT | € 529,046,618 | € 747,778,404 | 9.04% |
BRAILA | € 880,645,993 | € 1,241,459,454 | 8.96% |
BISTRITA | € 940,279,706 | € 1,321,482,847 | 8.88% |
SATU MARE | € 1,088,628,991 | € 1,500,874,788 | 8.36% |
ARAD | € 2,697,239,293 | € 3,695,279,590 | 8.19% |
CONSTANTA | € 3,775,910,070 | € 5,135,128,916 | 7.99% |
ORADEA | € 2,315,338,017 | € 3,090,986,809 | 7.49% |
BACAU | € 1,909,987,534 | € 2,535,930,553 | 7.34% |
TARGU MURES | € 2,847,637,941 | € 3,762,246,910 | 7.21% |
TIMISOARA | € 4,977,210,992 | € 6,533,602,508 | 7.04% |
GIURGIU | € 270,789,743 | € 352,027,698 | 6.78% |
ALBA IULIA | € 507,554,119 | € 659,708,617 | 6.77% |
FOCSANI | € 632,485,386 | € 821,677,506 | 6.76% |
ZALAU | € 657,119,097 | € 837,198,675 | 6.24% |
SFANTU GHEORGHE | € 463,487,574 | € 590,474,512 | 6.24% |
BRASOV | € 4,234,621,497 | € 5,325,889,563 | 5.90% |
BUZAU | € 1,791,857,270 | € 2,236,464,652 | 5.70% |
SLOBOZIA | € 607,491,432 | € 739,101,953 | 5.02% |
TULCEA | € 802,354,687 | € 972,808,566 | 4.93% |
VASLUI | € 388,622,827 | € 470,741,288 | 4.91% |
RAMNICU VALCEA | € 1,042,806,670 | € 1,238,764,774 | 4.40% |
MIERCUREA CIUC | € 342,551,214 | € 404,755,144 | 4.26% |
TARGOVISTE | € 678,066,422 | € 793,448,398 | 4.01% |
BUCURESTI | € 78,124,551,508 | € 90,318,021,918 | 3.69% |
GALATI | € 3,347,867,653 | € 3,781,645,941 | 3.09% |
DROBETA TURNU SEVERIN | € 314,760,251 | € 349,745,433 | 2.67% |
ALEXANDRIA | € 490,108,430 | € 542,335,405 | 2.56% |
SLATINA | € 1,768,669,573 | € 1,937,580,387 | 2.31% |
SIBIU | € 2,607,330,864 | € 2,607,751,180 | 0.00% |
CALARASI | € 744,000,803 | € 741,859,298 | -0.07% |
RESITA | € 465,388,451 | € 433,299,075 | -1.77% |
PLOIESTI | € 4,379,689,038 | € 4,070,314,763 | -1.81% |
DEVA | € 712,089,835 | € 622,028,511 | -3.32% |
Source: ListăFirme
5. Active Labor Force
Romanian cities have become increasingly attractive to migrants and commuters. Almost every city has a functional urban area (i.e., active commuter shed) that goes well beyond its administrative boundary, and the labor force is mobilized from a large territory.
6. Competitive Salaries
Average salaries in Romanian cities are competitive.
County | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 |
Bucuresti | € 681 | € 591 | € 646 | € 685 | € 678 | € 712 | € 751 | € 829 | € 882 |
Timis | € 480 | € 433 | € 457 | € 480 | € 484 | € 526 | € 562 | € 632 | € 756 |
Ilfov | € 577 | € 550 | € 564 | € 606 | € 615 | € 610 | € 647 | € 705 | € 751 |
Cluj | € 481 | € 444 | € 451 | € 475 | € 483 | € 518 | € 570 | € 622 | € 746 |
Sibiu | € 450 | € 417 | € 436 | € 452 | € 441 | € 480 | € 502 | € 565 | € 682 |
ROMANIA | € 478 | € 435 | € 452 | € 467 | € 463 | € 489 | € 524 | € 575 | € 662 |
Brasov | € 445 | € 422 | € 422 | € 448 | € 452 | € 463 | € 497 | € 553 | € 652 |
Gorj | € 552 | € 478 | € 495 | € 499 | € 491 | € 502 | € 545 | € 555 | € 618 |
Iasi | € 456 | € 420 | € 429 | € 434 | € 422 | € 463 | € 510 | € 556 | € 617 |
Arad | € 413 | € 387 | € 401 | € 414 | € 411 | € 436 | € 462 | € 518 | € 609 |
Prahova | € 481 | € 447 | € 451 | € 454 | € 466 | € 481 | € 524 | € 569 | € 606 |
Constanta | € 471 | € 447 | € 433 | € 456 | € 439 | € 463 | € 488 | € 541 | € 603 |
Alba | € 409 | € 365 | € 402 | € 397 | € 392 | € 411 | € 445 | € 493 | € 599 |
Galati | € 444 | € 400 | € 410 | € 425 | € 414 | € 445 | € 488 | € 509 | € 597 |
Arges | € 465 | € 438 | € 467 | € 477 | € 476 | € 513 | € 551 | € 604 | € 590 |
Dolj | € 446 | € 419 | € 413 | € 434 | € 424 | € 457 | € 479 | € 520 | € 580 |
Mures | € 409 | € 383 | € 399 | € 404 | € 405 | € 430 | € 464 | € 506 | € 572 |
Bacau | € 458 | € 423 | € 412 | € 406 | € 395 | € 420 | € 450 | € 491 | € 569 |
Olt | € 437 | € 404 | € 394 | € 394 | € 406 | € 430 | € 484 | € 505 | € 563 |
Calarasi | € 382 | € 356 | € 344 | € 361 | € 361 | € 385 | € 419 | € 446 | € 546 |
Tulcea | € 405 | € 377 | € 406 | € 413 | € 390 | € 429 | € 454 | € 492 | € 536 |
Mehedinti | € 460 | € 415 | € 426 | € 419 | € 397 | € 424 | € 458 | € 478 | € 534 |
Dambovita | € 427 | € 393 | € 409 | € 405 | € 407 | € 439 | € 459 | € 488 | € 533 |
Buzau | € 402 | € 371 | € 372 | € 379 | € 379 | € 403 | € 410 | € 461 | € 530 |
Giurgiu | € 423 | € 405 | € 407 | € 400 | € 382 | € 414 | € 438 | € 482 | € 526 |
Caras-Severin | € 379 | € 364 | € 377 | € 372 | € 372 | € 380 | € 409 | € 449 | € 525 |
Hunedoara | € 420 | € 391 | € 390 | € 385 | € 396 | € 406 | € 431 | € 473 | € 523 |
Maramures | € 369 | € 332 | € 330 | € 334 | € 352 | € 360 | € 397 | € 426 | € 517 |
Bihor | € 367 | € 329 | € 347 | € 352 | € 346 | € 360 | € 402 | € 434 | € 516 |
Salaj | € 386 | € 363 | € 357 | € 364 | € 353 | € 375 | € 408 | € 459 | € 512 |
Ialomita | € 392 | € 360 | € 366 | € 372 | € 371 | € 384 | € 421 | € 448 | € 508 |
Satu Mare | € 373 | € 334 | € 342 | € 358 | € 353 | € 395 | € 413 | € 453 | € 506 |
Valcea | € 421 | € 374 | € 385 | € 401 | € 395 | € 403 | € 413 | € 445 | € 504 |
Braila | € 406 | € 373 | € 364 | € 374 | € 360 | € 391 | € 416 | € 453 | € 500 |
Vaslui | € 380 | € 351 | € 343 | € 334 | € 342 | € 361 | € 400 | € 422 | € 499 |
Bistrita-Nasaud | € 392 | € 352 | € 350 | € 356 | € 352 | € 371 | € 392 | € 459 | € 496 |
Botosani | € 377 | € 354 | € 351 | € 347 | € 345 | € 377 | € 416 | € 456 | € 494 |
Covasna | € 350 | € 325 | € 337 | € 346 | € 339 | € 363 | € 389 | € 433 | € 488 |
Neamt | € 379 | € 345 | € 353 | € 359 | € 345 | € 373 | € 394 | € 425 | € 484 |
Vrancea | € 384 | € 346 | € 349 | € 346 | € 347 | € 371 | € 399 | € 444 | € 481 |
Teleorman | € 399 | € 358 | € 366 | € 370 | € 361 | € 387 | € 412 | € 442 | € 478 |
Harghita | € 359 | € 344 | € 328 | € 338 | € 327 | € 349 | € 385 | € 426 | € 477 |
Suceava | € 394 | € 354 | € 358 | € 365 | € 350 | € 387 | € 418 | € 459 | € 470 |
Source: Romanian National Institute of Statistics
7. Awesome Life
Romanian cities offer good quality of life and one of the lowest costs of living in the World. If you make 4500 pounds a month in London, you would need to make 1365 pounds in Romania to maintain the same standard of life.
8. Low Taxes
Romania has one of the lowest tax rates on the continent: the standard corporate tax rate is 16%, about half the tax you would pay in France, Germany or Italy. Fiscal incentives include tax exemption for the reinvested profit.
9. Substantial Public Investments
Romanian cities continuously invest in improving infrastructure and conditions for investors and people, and local administrations are increasingly responsive to the needs of investors.
Capital Expenditures between 2007 and 2015
EU Funds | Own Budget Expenditures | Total Capital Expenditures | ||||||
Core City | FUA | Core City | FUA | Core City | FUA | |||
București | € 93,757,980 | € 262,295,385 | € 3,093,395,693 | € 3,890,444,401 | € 3,187,153,672 | € 4,152,739,786 | ||
Brașov | € 68,662,721 | € 102,547,686 | € 161,140,723 | € 371,095,697 | € 229,803,444 | € 473,643,383 | ||
Timișoara | € 104,598,212 | € 140,555,747 | € 116,984,885 | € 311,150,318 | € 221,583,097 | € 451,706,064 | ||
Constanța | € 24,540,445 | € 100,860,854 | € 123,687,222 | € 329,418,233 | € 148,227,667 | € 430,279,087 | ||
Cluj-Napoca | € 103,639,043 | € 161,054,582 | € 122,474,038 | € 266,354,014 | € 226,113,081 | € 427,408,595 | ||
Oradea | € 139,499,081 | € 175,476,436 | € 85,882,351 | € 193,652,495 | € 225,381,432 | € 369,128,931 | ||
Craiova | € 130,975,305 | € 146,436,114 | € 123,352,629 | € 217,086,275 | € 254,327,934 | € 363,522,389 | ||
Ploiești | € 56,141,819 | € 71,669,899 | € 87,364,096 | € 291,082,565 | € 143,505,916 | € 362,752,463 | ||
Pitești | € 39,695,798 | € 81,152,356 | € 84,735,458 | € 278,858,323 | € 124,431,256 | € 360,010,680 | ||
Iași | € 152,791,778 | € 181,519,695 | € 115,889,503 | € 178,326,477 | € 268,681,281 | € 359,846,172 | ||
Sibiu | € 15,309,095 | € 41,423,869 | € 125,902,440 | € 258,938,467 | € 141,211,535 | € 300,362,337 | ||
Arad | € 40,865,359 | € 63,738,590 | € 117,916,614 | € 217,607,470 | € 158,781,973 | € 281,346,059 | ||
Galați | € 34,838,308 | € 58,010,583 | € 157,941,530 | € 220,010,009 | € 192,779,838 | € 278,020,592 | ||
Râmnicu Vâlcea | € 24,212,883 | € 66,024,345 | € 54,909,318 | € 186,161,389 | € 79,122,201 | € 252,185,734 | ||
Bacău | € 79,053,034 | € 100,219,161 | € 96,747,847 | € 147,945,195 | € 175,800,881 | € 248,164,357 | ||
Târgu Mureș | € 48,588,795 | € 70,724,705 | € 60,863,528 | € 133,366,167 | € 109,452,323 | € 204,090,871 | ||
Târgoviște | € 57,100,409 | € 87,313,395 | € 32,866,447 | € 97,622,407 | € 89,966,856 | € 184,935,802 | ||
Piatra Neamț | € 32,766,077 | € 43,241,704 | € 88,337,721 | € 126,549,780 | € 121,103,798 | € 169,791,484 | ||
Deva | € 22,645,403 | € 52,179,499 | € 53,879,285 | € 114,623,429 | € 76,524,688 | € 166,802,927 | ||
Alba Iulia | € 51,752,361 | € 70,280,123 | € 24,323,423 | € 93,128,807 | € 76,075,784 | € 163,408,930 | ||
Baia Mare | € 11,011,747 | € 35,905,432 | € 58,048,595 | € 123,091,159 | € 69,060,342 | € 158,996,591 | ||
Brăila | € 66,520,269 | € 67,446,149 | € 59,941,264 | € 77,046,994 | € 126,461,532 | € 144,493,144 | ||
Slatina | € 28,196,508 | € 44,078,042 | € 61,551,826 | € 90,891,106 | € 89,748,334 | € 134,969,148 | ||
Bistrița | € 33,991,820 | € 64,534,248 | € 31,756,833 | € 69,911,748 | € 65,748,653 | € 134,445,996 | ||
Suceava | € 21,449,080 | € 34,406,644 | € 48,952,665 | € 91,391,720 | € 70,401,745 | € 125,798,363 | ||
Satu Mare | € 19,703,299 | € 45,705,215 | € 29,220,620 | € 79,948,448 | € 48,923,919 | € 125,653,663 | ||
Focșani | € 34,824,132 | € 43,767,507 | € 31,687,831 | € 80,233,342 | € 66,511,963 | € 124,000,849 | ||
Miercurea-Ciuc | € 20,064,952 | € 37,227,779 | € 43,951,181 | € 83,720,467 | € 64,016,132 | € 120,948,246 | ||
Buzău | € 10,598,420 | € 15,966,861 | € 23,803,670 | € 98,975,646 | € 34,402,089 | € 114,942,507 | ||
Drobeta Turnu Severin | € 20,456,438 | € 29,179,847 | € 61,422,379 | € 81,734,871 | € 81,878,817 | € 110,914,718 | ||
Sfântu Gheorghe | € 19,560,503 | € 28,227,454 | € 43,221,555 | € 69,704,491 | € 62,782,058 | € 97,931,944 | ||
Botoșani | € 20,989,209 | € 25,729,559 | € 59,618,570 | € 70,992,411 | € 80,607,779 | € 96,721,970 | ||
Târgu Jiu | € 11,867,370 | € 27,090,134 | € 32,656,431 | € 68,357,454 | € 44,523,802 | € 95,447,588 | ||
Tulcea | € 20,344,174 | € 26,778,570 | € 40,044,949 | € 55,387,644 | € 60,389,123 | € 82,166,214 | ||
Slobozia | € 7,146,830 | € 14,452,216 | € 41,105,874 | € 63,631,453 | € 48,252,705 | € 78,083,669 | ||
Zalău | € 12,304,703 | € 33,423,535 | € 13,185,308 | € 44,538,397 | € 25,490,012 | € 77,961,932 | ||
Vaslui | € 21,995,069 | € 27,422,930 | € 29,887,653 | € 49,502,304 | € 51,882,722 | € 76,925,234 | ||
Călărași | € 2,551,401 | € 16,795,288 | € 35,391,245 | € 53,779,100 | € 37,942,646 | € 70,574,388 | ||
Giurgiu | € 3,342,486 | € 7,289,606 | € 49,918,873 | € 57,851,233 | € 53,261,359 | € 65,140,839 | ||
Reșița | € 3,164,535 | € 10,066,692 | € 36,303,967 | € 42,996,462 | € 39,468,502 | € 53,063,154 | ||
Alexandria | € 6,446,983 | € 6,528,086 | € 23,862,028 | € 36,341,226 | € 30,309,011 | € 42,869,312 |
Data: Ministry of Regional Development, Public Administration, and European Funds
10. Growing Urban Areas
With improvements in infrastructure, cities are becoming increasingly inter-connected, forming large urban networks and systems.
Source: Cities in ECA: A shifting story of urban growth and decline, Urban ECA team, World Bank, 2016-2017