After the capital, Bucharest, the best cities to do business in Romania are in Translyvania, an annual list compiled by Forbes shows. The medalists are Bucharest, Temesvár/Timisoara and Kolozsvár/Cluj-Napoca.
Forbes has been compiling a list of the 40 best cities to do business in Romania for seven years and this year it has extended its survey criteria based on which the cities are ranked. It includes not only local measurements but those of the county as well (including the county’s gross domestic product) and also includes “bonuses” for the vicinity of an airport or “smart city” initiatives.
Following are the top seven cities, with a short justification for their placement.
Bucharest – not only is it the country’s capital, but it is also the driving force of the national economy and has the highest living standards in the entire country. It also attracts 50% of the research and development funds spent in the country.
Temesvár – Temes/Timiș county has the second highest GDP per capita of EUR 12,700 ($14,245), the second lowest unemployment rate of a mere 1% and 70% of the local companies have some form of foreign involvement or ownership.
Kolozsvár – as a result of its dynamic development in the last few years, Kolozsvár has become a serious challenger for the top position, mainly due to the complexity of its services and the quality of its workforce.
Arad – has benefited from its excellent geographic position, being at the intersection of a major North-South and East-West road and has built four industrial zones around them.
Gyulafehérvár/Alba Iulia – is the country’s leading “smart city”, with over one hundred running projects. It has the ambition to become the digital capital of the country.
Szeben/Sibiu – has a lot going for it: it sits on a Pan-European road corridor, has a modern international airport and is also a front-runner in “smart city” initiatives.
Brassó/Brașov – despite lacking both a motorway linking it to the capital and is still awaiting an airport, it has the best urban infrastructure in the country and young professionals are flocking there because of its high quality of life. It is also yet another pioneer in the “smart city” area.
Title image: Downtown Temesvár (photo: Dénes Albert)