Fastest Growing Countries in Europe by GDP
Fastest Growing Countries in Europe by GDP. Start your immigration strategy today:
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00:00 Intro (what is GDP and why GDP growth matters)
01:41 Countries
08:49 What makes a country grow fast
Romania
We will start our list today with Romania, which grew 4.1% in 2019. Romania has been among the fastest growing countries in the European Union for some 5 years in a row. The fact that it still is one of the countries within the EU with the lowest income makes it easier for Romania to grow at a higher rate than its peers.
If you want to move to Romania as a non-EU citizen the easiest path is by opening a company. You will still need to have your business plan approved by the authorities but it is not an extremely complicated task.
Serbia
Serbia’s GDP grew at a rate of 4.2% in 2019, which is also pretty amazing. Serbia had one of the most turbulent pasts in recent European history, which translated on many occasions that ravaged its economy partially or completely.
Alternatively you can buy property in the country which also grants you the right to stay and it is pretty cheap unless you want to do it in the capital Belgrade.
Lithuania
The next country is in the Baltic region, we’re talking about Lithuania. Which by the way is not the only Baltic country in today’s video, I guess you can probably know which will be the other one.
If you want to move to Lithuania as a business person and if you are not from the EU it is quite complicated, as it will involve in almost all cases having to hire at least one Lithuanian or EU national.
Hungary
The next country is Hungary, whose capital Budapest is one of the most livable cities in the world. The country posted a growth of 4.6% in the year 2019.
Hungary ranks as the 9th most complex economy in the world, which is a great advantage, especially in times of global economic turbulence.
If you are a non-EU citizen you can move to Hungary by opening a company, and enjoying a relatively affordable cost of living and a world class infrastructure.
Poland
The next country in the list is Poland, which posted a growth of 4.7% in 2019, which is absolutely ridiculous considering the size of the country and the fact that it is in Europe. The larger the country is and the more complex the economy is, it is harder to post higher GDP growth, as a number of economic sectors with large significance need to grow simultaneously.
Poland is in an EU member, but it does not use the euro currency.
However, if you want to move to Poland and if you are an non-EU citizen, it is not so simple to do it as a business person.
Ireland
The next country is Ireland. Ireland grew at a whopping 4.9% percent rate in 2019, a trend that has been steadily strong for more than a decade. Currently, Ireland is one of the wealthiest countries in Europe and in the world.
Ireland has low corporate rates for Western European members, which made the country highly attractive for international companies to establish their Europe HQs in.
Ireland also benefited from Brexit, as some European companies based in London opted to move out of the UK and establish themselves elsewhere in the EU. Ireland was the most obvious choice.
Estonia
Estonia is another European economic miracle. From a restricted Soviet republic to a highly efficient market economy, the country changed its destiny drastically and for the better in the past 30 years.
Estonia grew at a whopping rate of 5 percent in 2019.
The country and most notably its innovative capital Tallinn are the preferred location for a number of new tech startups and online businesses in Europe.
Malta
Malta is the fastest growing European country according to eurostat. In 2019, the country grew 5.5%, which for European terms is absolutely incredible.
Malta has a number of advantages, starting from its key location on the Mediterranean, a passage to ships going from West to East of the continent.
The second important advantage of Malta is that most of the population speaks English. As a matter of fact English is one of the two official languages in the country, being the other language Maltese.
Malta is also one of the top locations for internet businesses in Europe, with a low overall taxes and it is also one of the most crypto friendly countries in Europe.
-Low taxes
-Efficient government processes and low bureaucracy
-Favorable geographical location
-Low production costs
