Eastern Europe as industrial location
Why do I write about this topic? Even though many Eastern European countries joined the EU in 2004 and 2007 their role and their importance appears low to many people. Little attention is paid to the fact that Eastern European countries are nowadays inseparable to the economy of the EU. Poland, for instance, had the only positive GDP in 2009 right after the financial crisis in the European Union. But after the process of democratization over the last couple of years those countries are now faced with many problems which are mainly ignored by the European Union and its people. In Hungary under the right-conservative Prime Minister Victor Orbań, for example, the freedom of expression is limited and anti-Semitism is growing.
Why is this topic relevant for business and for the reader? In the wake of globalization and with the east-expansion of the European Union the Eastern European countries start to play a crucial role for businesses, not only as a location to outsource work but also as location where new technologies are developed. Also, more and more unskilled or highly skilled workers from Eastern Europe, where wages are still very low, immigrate to the west of Europe in the hope of finding a job with higher wages and better working conditions. Those workers can provide insight in their culture, in their ways of working in their home countries and in the needs of customers on Eastern Europe. All in all, investing in Eastern Europe offers a chance for new markets with new customers and as well a chance for reducing costs of production for many companies.