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• Romania Info
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Romania's Economy

• For 4 years in a row there has been positive GDP growth, with an average of over 4-5% growth per a year (5.4% growth in 2008).
• Romania’s economy investment grade has recently been upgraded by Fitch and P&S.
• Steady Economic growth do to the rapid rise in the standard of living, private consumption, commercial investments and exportation.
• The net average salary has increased during the last 10 years by more than threefold.
• The economic growth has improved the wealth and purchasing power of the population. This, in turn, affects the property market. Growth is set to rise up as an increasing number of people move away from renting and towards owning their own dwelling. This is great for international    property investors as there are clear exit strategies available.
• The NATO umbrella brought 8 times more investments than in previous years. This, in turn, has completely changed the economy.

While Romania's income level remains one of the lowest in the European Union, these reforms have increased the growth speed. Romania is now an upper-middle income country, presenting 4 years in a row of positive GDP growth, with an average of over 4-5% growth for a year (5.4% growth in 2008). This rate is expected to increase in the near future. The forecast projects real GDP growth at 6.25% in 2008, easing towards just above 5% in 2009. (European Commission Directorate-General for Economic and Financial Affairs, Economic Forecast, Spring 2008, p. 102).

Currently, economy of Romania is steadily increasing the levels of GDP and significantly high levels of Foreign Direct Investment (FDI). Romania’s economy investment grade has recently been upgraded by Fitch and P&S. Romania benefits from the rising FDI flows due to the privatization process, and the advantages of its big internal market.(source: Romania monthly economic review - October 2008, Ernst & Young S.R.L.).

Unsurprisingly, this economic growth has improved the wealth of the population. Bank loans have become more available, which increases the purchasing power of the population. The net average salary increased during the last 10 years by more than threefold. Household credits and mortgage shares of GDP had gradually increased, reflecting the growing strength of the nation’s purchasing power as well as its property market. Growth is clearly evident and is set to rise up as an increasing number of people move away from renting towards owning their own dwelling. Demand for commercial space is also increasing as the economy continue to expand. This is great for international property investors as there are clear exit strategies available.

Emerging markets are great for investment because there is lots of room for growth as the economy matures. Good investors know it and this why experts from major firms and urban land institutes are first to invest, and express their confidence in this market.

The Romanian economy has attracted FDI 8 times more each year since it became NATO member in 2004. This has completely changed the economy.

The tourism industry in Romania is becoming more and more important. The contribution of Travel & Tourism to Gross Domestic Product (GDP) is expected to rise from 5.8% (9,352.5 million US Dollars) in 2008 to 7.0% (21,004.8 million US Dollars) by 2018. (Source: World Travel and Tourism Council). This suggests that the growth of tourism and overseas property investment is having a positive impact on the Romanian economy.