Economy of Bratislava

Mlynské nivy, one of the business districts in Bratislava

The Bratislava Region is the wealthiest and economically most important region in Slovakia, despite being the smallest by area and having the second smallest population of the eight Slovak regions. The most important governmental institutions, including the Ministry of Finance and the central bank, as well as many private companies have their headquarters in Bratislava. More than 75% of Bratislava's population works in the service sector, mainly composed of trade, banking, IT, telecommunication industry, tourism and others.[1] The Bratislava Stock Exchange (BSSE), the organiser of the public market of securities, was founded on March 15, 1991.[2]

Budget

Bratislava has a balanced budget of almost six billion Slovak korunas (€182 million) as of 2007.[3] One fifth of that is used for investment. Bratislava holds shares in 17 companies directly, for example in the public transport company (Dopravný podnik Bratislava), the waste collection and disposal company, the water utility and others.[4] The city also manages municipal organisations such as the City Police (Mestská polícia), Bratislava City Museum, ZOO Bratislava, etc.[5]

GDP

NBS Office Tower in Bratislava
Bratislava Stock Exchange

The Bratislava Region is the wealthiest and economically most prosperous region of Slovakia, despite being the smallest by area and having the second smallest population of the eight Slovak regions. It accounts for about 26% of the Slovak GDP.[6] The GDP per capita (PPP) is 178% (2009) of the EU average and is the highest level of all regions in the new EU member states.[7]

The primary sector is represented only with a share of 0.9% in the region, that is, one fifth of the share observed at the national level (4.5%). The secondary sector accounts for 20.3%, that is 11.5 percentage points under the share in the Slovakia.

Foreign investments

More than 60% of all direct foreign investments in Slovakia are located in the Bratislava Region. A car manufacturer Volkswagen Slovakia was established in Bratislava in 1991 subsequent to acquiring Škoda Auto and has expanded since.[8] Currently, its production focuses on sport utility vehicles, which represent 68% of all production. VW Touareg is finished and Porsche Cayenne and Audi Q7 are partially built there.[9][10][11]

In recent years service and high-tech oriented businesses are thriving in Bratislava. Many global companies, including IBM, Dell, Lenovo, AT&T, SAP, and Accenture, are building their outsourcing and service centres or have plans to build in near future here.[12][13]

Biggest industries and companies

Other important companies and big employers with headquarters in Bratislava include:[14]

Construction boom

Polus City Center high-rises in Nové Mesto

The Slovak economy's strong growth in the 2000s has led to a boom in the construction industry, and several major projects have been completed in or are planned for Bratislava.[15] Areas attracting developers include the Danube riverfront, with two major projects already under construction: River Park[16] in the Old Town, and Eurovea[17] near the Apollo Bridge. Other locations under development include the areas around the main railway and bus stations,[18] around the former industrial zone near the Old Town,[19] and in the boroughs of Petržalka[20] and Ružinov. It is expected that investors will spend €1.2 billion on new projects by 2010.[21] See also List of tallest buildings in Bratislava.

Education

Around 38% of all university educated people in the country are concentrated in Bratislava. The potential of the qualified population with a university or college education is utilised to the level of 94%.

References

  1. ↑ "Economy and employment". City of Bratislava. February 23, 2006. Archived from the original on July 1, 2007. Retrieved April 26, 2007.
  2. ↑ "Basic Information". City of Bratislava. n.d. Retrieved May 3, 2007.
  3. ↑ Official Website of the City of Bratislava. "Budget". Retrieved 2007-04-29.
  4. ↑ Official Website of the City of Bratislava. "Obchodné spoločnosti mesta" (in Slovak). Retrieved 2007-04-29.
  5. ↑ Official Website of the City of Bratislava. "Mestské organizácie" (in Slovak). Retrieved 2007-04-29.
  6. ↑ "Bratislavsky Kraj (Bratislava Region) - Economy". Eurostat. February 2004. Retrieved April 25, 2007.
  7. ↑ "Regional GDP per inhabitant in the EU27" (PDF). Eurostat. March 13, 2012. Retrieved March 13, 2012.
  8. ↑ Jeffrey Jones (1997-08-27). "VW Bratislava expands production". The Slovak Spectator. Retrieved 2007-04-25.
  9. ↑ "A brief journey through a long history: 2000-2003". Volkswagen. 2007. Retrieved April 25, 2007.
  10. ↑ "Volkswagen (Slovak Republic)". Global Auto Systems Europe. n.d. Retrieved April 25, 2007.
  11. ↑ "Volkswagen sales up to a record Sk195.5 billion". The Slovak Spectator. April 2, 2007. Retrieved April 25, 2007.
  12. ↑ "Lenovo invests in Slovakia with new jobs". Slovak Investment and Trade Development Agency. April 20, 2006. Retrieved April 25, 2007.
  13. ↑ "Dell in Bratislava". Dell. 2007. Retrieved April 25, 2007.
  14. ↑ "eTREND Rankings: Biggest Employers in Slovakia; TREND Top IT (Eng.); TREND Top Telecom (Eng.); Biggest Exporters in Slovakia; Biggest Utility Companies in Slovakia; Biggest Companies of the Slovak Engineering Industry; Biggest Food and Tobacco Companies in Slovakia; Biggest Producers of Construction Materials in Slovakia; Biggest Chemical and Pharmaceutical Companies in Slovakia; Biggest Travel Agencies in Slovakia". eTREND. 2006. Retrieved April 25, 2007.
  15. ↑ "Visit Bratislava: Real Estate Market". City of Bratislava. Retrieved June 3, 2007.
  16. ↑ "River Park". City of Bratislava. Retrieved June 6, 2007.
  17. ↑ "EUROVEA International Trade Centre". City of Bratislava. Retrieved June 6, 2007.
  18. ↑ "Regeneration of Central Railway Station Square Area". City of Bratislava. Retrieved June 3, 2007.
  19. ↑ "Twin City to uplift bus station". The Slovak Spectator. Retrieved 6 June 2007.
  20. ↑ "Petržalka City". City of Bratislava. Retrieved June 6, 2007.
  21. ↑ "New investments in Bratislava, especially near the Danube river". City of Bratislava. Retrieved 6 June 2007.
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