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Industry revenue of »business and other management consultancy activities« in Romania 2011-2023

Romania has enjoyed considerable economic growth over the past few years. Its economy is one of the fastest growing in the EU and it is poised to become the next tech-startup hub, fuelled by the increasing foreign investments, growing technological advancements and favourable business policies. In fact, in 2017, the country recorded a total investment of 53 million U.S. dollars in tech companies alone, according to the ‘State of the European tech’ report. Of the 15 fastest growing tech companies in the world, eight have their offices in the country, including, Alphabet, Salesforce and Microsoft to name a few. Therefore it isn’t surprising to see why Romania is being called as the ‘Silicon Valley of Eastern Europe’.

Additionally, several big international companies from fields including consultancy and law have also established base in the country, owing to benefits such as the single tax rates. Ernst & Young, McKinsey & Company and Deloitte have all set their offices in the capital city of Bucharest. Unsurprisingly, 43 percent of the nations GDP is generated by foreign owned companies.

Industry revenue of »business and other management consultancy activities« in Romania from 2011 to 2023

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Sources

Supplementary notes

* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.

Currency conversion factor: (EUR -> USD) = 1.186

The industry classification is based on the NACE Rev.2 - system in Romania. The industry “business and other management consultancy activities“ has the code “M7022“.

Details on the methodology can be found here.

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