Bulgaria Most Attractive to the Automotive Sector in Europe

Bulgaria Most Attractive to the Automotive Sector in Europe

Bulgaria heads the list of the top ten countries in terms of attractiveness to the automotive sector in Europe. This was revealed in the latest research by Colliers and Automotive Cluster Bulgaria, which took place during the second half of 2016, Property Forum reports.
In the ranking, created for the purposes of the research, Bulgaria is compared to Romania, Hungary, Poland, Czech Republic, Spain, UK, Italy, France and Germany. The order is based on an index consisting of the weighted positions of the countries in the list. The weight of each factor is determined by survey responses in the section "Reasons to Choose Bulgaria". The result was multiplied by the respective position of the country, according to each indicator in the section "Cost Comparison". The ranking takes into consideration only the sample of expenditures specified in the report. The lower the index, the better conditions are offered by the respective country.
The study by Colliers and Automotive Cluster Bulgaria shows that there are 100 large enterprises producing parts for almost every brand from the global automotive industry. The prevailing part of them are Tier 1, 2 and 3 suppliers and one is a producer with an assembly plant. R&D companies are focused on improving the automation of manufacturing, as well as designing contemporary electronic systems. Automotive sector companies are present in all regions of Bulgaria, while South Central registers the highest activity. The industry employs over 33,000 people and the revenue generated throughout 2015 was 1.55 billion euros or 3.5% of the country's GDP.
 
 
StandartNews
Previous Next
Close
Test Caption
Test Description goes like this
Cookies Preferences
Choose Type of Cookies You Accept Using


These cookies are required for the website to run and cannot be switched off. Such cookie are only set in response to actions made by you such as language, currency, login session, privacy preferences. You can set your browser to block these cookies but our site may not work then.


These cookies allow us to measure visitors traffic and see traffic sources by collecting information in data sets. They also help us understand which products and actions are more popular than others.


These cookies are usually set by our marketing and advertising partners. They may be used by them to build a profile of your interest and later show you relevant ads. If you do not allow these cookies you will not experience targeted ads for your interests.