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Tourism : Over 50,000 Romanian tourists travelled to Israel during the first six months of 2023
Tuesday, June 27, 2023
Tourism to Israel has a significant recovery in the first half of the year and the number of Romanian tourists to Israel has registered an impressive increase of 7% against 2019, informs the ministry of tourism of Israel, in a press release.According to the official statistic data, in the first six months of the present year, 50,000 Romanian tourists visited Israel, a remarkable figure which ...
Trade: Luxury market to account for almost 20 pct of Romania's total housing supply in 2023
Tuesday, June 27, 2023
The luxury market accounts for almost 20% of Romania's total housing supply this year, 90% of which is in Bucharest, say representatives of some real estate companies.About 50% of real estate transactions were made in cash, and developers maintain that more than 70% of them were for medium-high and luxury apartments or for the most expensive homes in a complex, namely the exact opposite of the trend so far, shows data from the National Cadastre and ...
Healthcare: 2 out of 4 middle-aged people in Romania are overweight or obese
Tuesday, June 27, 2023
2 out of 4 middle-aged people in Romania face weight problems, being overweight or obese, and 6 out of 10 are sedentary. The data are part of an analysis carried out by the Romanian application DAHNA – Diet According to the Healthy Heart Nutritional Approach, as part of a cardiometabolic health screening project among the Romanian population. The DAHNA application is intended for those who will ...
Infrastructure : EU invests EUR 6.2 billion in sustainable, safe and efficient transport infrastructure
Tuesday, June 27, 2023
The Commission has selected 107 transport infrastructure projects to receive more than EUR 6 billion in EU grants from the Connecting Europe Facility (CEF) – the EU instrument for strategic investments in transport infrastructure. More than 80 % of this funding will support projects that ensure a more ...
Real Estate: Colliers: Bank-financed housing acquisitions continue to fall in 2023
Tuesday, June 27, 2023
Rising interest rates have reduced Romanians’ appetite for home mortgages, with the number of apartment transactions falling by almost 30% in Bucharest and Romania’s major cities in the first five months of the year, Colliers consultants note. Compared to the past four years, when the balance of housing loans grew by an annual average of 10-12%, the annual evolution of housing loan stock is now growing by only ...
The largest business hub in western Romania, in Iulius Town Timisoara
Tuesday, June 27, 2023
The largest business hub in the western part of the country, developed by IULIUS Company in the Iulius Town mixed-use complex, brings together some of the world’s strongest ‘intelligence’ providers in the automotive and technology industry. The four office buildings under the United Business Center (UBC) brand have a leasable area upwards ...
Workers prefer hybrid work and this is hurting the office market
Tuesday, June 27, 2023
by eToro analyst for Romania, Bogdan Maioreanu Workers do not want to work only from the office, hybrid work is gaining importance and this is putting the commercial real estate sector under pressure, especially the office sector. The Fed paused the rates but is planning some new increases to contain price pressures. The ECB ...
CBRE:The office vacancy rate recorded in Bucharest is 15.1%
Tuesday, June 27, 2023
The best quality offices continued to have a strong demand on the local market which will determine that the request for development or refurbishment projects remain high, despite overall levels falling, shows the data of CBRE. The companies are still in search of qualitative upgrades, in Bucharest, despite the slowing down of deliveries, also impacted by the evolution of hybrid working. While in Europe ...
Telecom.IT: Aligning Cybersecurity to business objectives helps drive revenue growth and lower costs of breaches, Accenture report finds
Tuesday, June 27, 2023
* Accenture State of Cyber Resilience 2023 report reveals key traits of “cyber transformers,” who make cybersecurity the cornerstone of their business transformation efforts Organizations that closely align their cybersecurity programs to business objectives are 18% more likely to achieve target revenue growth and market share and improve customer satisfaction, as well as 26% more likely to lower the ...
Tourism: Non-resident tourists spend in Romania approx. 2,600 lei per person in Q1
Tuesday, June 20, 2023
Non-resident tourists spent an average of 2,632 lei per person in Romania in the first quarter of this year, according to data the National Institute of Statistics (INS) published Friday.The total number of non-resident tourists staying in collective tourist accommodation facilities in the first three months of 2023 was 356,600, with their expenditure totalling 938.5 million lei.Business trips (including participation in congresses, conferences, ...
Cars: Romania's green car market share up by 33.7 pct in the first five months
Tuesday, June 20, 2023
Romania's green car market share reached 21% of the total in the first five months of the year, and purchases in this category increased by 33.7% compared to the same period in 2022, according to data published Thursday by the Association of Automobile Manufacturers and Importers (APIA).In this range, all-electric vehicles hold a 9% share of the market in the period under review, up from 7.7% in 2022.Purchases of "green" cars performed well ...
Motor trade turnover up 17.1 pct in the first four months of 2023
Tuesday, June 20, 2023
The turnover in wholesale and retail trade, maintenance and repair of motor vehicles and motorcycles, as unadjusted series, increased by 17.1% in the first four months of 2023 compared to the same period last year, according to data published Friday by the National Institute of Statistics (INS).According to the official statistics, in April 2023, there was an upsurge in the turnover of the trade in motor vehicles (+29.3%), motor vehicle maintenance and ...
Infrastructure: Ghimbav-Brasov International Airport gets inaugurated
Tuesday, June 20, 2023
Ghimbav-Brasov International Airport was inaugurated on Thursday morning, the first passenger aircraft to have landed on the runway belonging to the TAROM airline.The aircraft was piloted by Catalin Prunariu, son of cosmonaut Dumitru-Dorin Prunariu.The inauguration took place in the presence of Senate President Nicolae Ciuca, President of the Brasov County Council and Development Minister-designate Adrian Vestea, Transport Minister Sorin ...
Trade: More than half of Romania's population to use e-commerce by 2025
Tuesday, June 20, 2023
Romania's e-commerce market is becoming increasingly strong in Southeastern Europe, growing faster than the global average of 16.6% per year, reaching a total value of 10 billion euros by 2025, and e-commerce will be used by 54% of the country's inhabitants, according to data from the eBook eCommerce Growth Strategies.The report also notes that revenues from the Romanian e-commerce market will reach 7 billion euros in 2023 and almost 12 billion euros by ...
The business of the major retail chains in Romania was above the inflation rate in 2022
Tuesday, June 20, 2023
The large retail chains recorded a total turnover which was 16.3% higher than in 2021, a growth rate that exceeds the average annual inflation rate of 13.8% registered in 2022, according to the Romania Retail Snapshot 2023 study performed by the Cushman & Wakefield Echinox real estate consultancy company, based on the financial results of 114 companies from 12 different segments. All the analyzed ...
Real estate: Malls with biggest business in Romania
Tuesday, June 20, 2023
Owners of the most functional 78 malls in Romania in 2022 received about 813 million euros from the stores they host, 23.4% more than the previous year and double the amount they received 9 years before, according to the extensive analysis of businesses in all commercial centers in Romania, made by Profit.ro. These are the largest amounts of money in the history of modern retail markets, despite drawbacks generated by the two years of pandemic. Only two malls owners ...
Trade: Retail trade volume in Romania advances 3.4pct first four months into 2023
Tuesday, June 13, 2023
Retail trade volume, except trade of motor vehicles and motorcycles, increased in Romania in the first four months of 2023, y-o-y, by 3.4% unadjusted and by 3.1% adjusted for working days and seasonality, show data with the National Institute of Statistics (INS) published on Tuesday.Official statistics reveal that rising volumes between January 1 and April 30, 2023 were recorded in retail sale of food products, beverages and tobacco (+5.7%) and non-food ...
More than half of Romania's population will use online commerce by 2025
Tuesday, June 13, 2023
Romania’s ecommerce market is becoming stronger in South-East Europe, growing faster than the global average of 16.6% per year, reaching a total value of 10 billion euros by 2025, according to data from the eBook eCommerce Growth Strategies, the largest report of data and growth strategies for online stores in Romania, made by Limitless Agency. At the same time, electronic commerce will be used by 54% of the country’s inhabitants in the coming ...
Real Estate: Housing starts down to 15,329 units in three months
Tuesday, June 13, 2023
The number of housing put into use in Romania, in Q1 of this year, dropped by 578 units against the same period of 2022, down to 15,329 units, according to the National Institute for Statistics (INS).By residence environment, during the period analysed, most dwellings were built in urban areas, with a share of 61.5%. According to the ...
Romania's real estate investments at 120 ml euros as of end Q1
Tuesday, June 13, 2023
As of the end of Q1 2023, Romania's real estate investments amounted to 120 million euros, almost double the figure registered in the first three months of 2022, with industrial and logistics transactions accounting for approximately 50 percent of the volume, and office property transactions for around 40 percent, shows the Colliers report titled CEE Investment Scene Q1 2023.Romania performed much better than the main countries in the Central and Eastern European ...