Poland ranks sixth in Europe in terms of investment attractiveness. As the largest economy in the region with a strategic location, it plays a crucial role in building resilient, sustainable, and competitive supply chains in a rapidly changing global environment. As a result, its investment potential continues to grow. The United Kingdom is already a strategic partner for Poland, but the potential for further cooperation is even greater.
“Polish-British relations, including trade, investment, and exchanges at all levels, are incomparable to what they were 20 years ago. However, for this progress to continue, new solutions must be sought,” says Professor Witold Orłowski, chief economic advisor at PwC and a faculty member at the Vistula Academy of Finance and Business and the Warsaw University of Technology, in an interview with Newseria.
According to the BPCC report “Potential of Polish-British Economic Cooperation,” the dynamics of cooperation between Poland and the UK have increased significantly in recent years. In 2023, the value of trade between the two countries reached €36.4 billion, marking a 35% increase compared to 2018. The value of British investments in Poland has also surged, rising by 103% since 2018 to reach €91.4 billion. Additionally, the number of companies with British capital in Poland exceeded 1,400 in 2022.
Poland is steadily strengthening its position in Europe. It ranks 26th globally and second in Central and Eastern Europe in the World Bank’s 2023 Logistics Performance Index. Meanwhile, according to EY, Poland holds the sixth spot in Europe in terms of investment attractiveness.
“Poland’s economic success over the last 20 years, which is reflected in the significant growth of Polish-British relations, was primarily driven by the availability of a highly skilled yet inexpensive workforce. However, Polish labor is no longer cheap, nor do we aim for it to be. For Poland to become a long-term economic partner for the UK, this partnership cannot rely solely on low-cost labor; it must be built on cooperation between partners who possess knowledge and human capital—the most valuable assets in today’s economy,” asserts Professor Orłowski.
The BPCC notes that Central and Eastern Europe has become a key region for nearshoring, with Poland playing a vital role due to its size and strategic location. It is actively contributing to the development of resilient, sustainable, and competitive supply chains.
“For American and British companies, Poland is currently an excellent investment destination, featuring one of the fastest-growing economies in Europe, a stable political and regulatory environment, and the potential to serve as a business hub not only in Central and Eastern Europe but also across the European Union. Economic opportunities in Poland are evident not just in rapidly expanding Warsaw but also in undercapitalized regions such as Eastern Poland and the Suwałki Gap,” emphasizes Mark Brzeziński, CEO of Brzezinski Global Strategies and former U.S. Ambassador to Poland.
Poland is particularly attractive due to its infrastructure and human capital. From an investor’s perspective, the Polish economy offers access to highly qualified workers, especially in new technology sectors. Additionally, the strong proficiency of Polish professionals in English and other foreign languages enhances their global competitiveness.
“British investors in Poland rank among the top five foreign investors. The main factors attracting British investments to Poland are a highly skilled workforce, human capital, and the expertise of employees who have gained valuable experience either through cooperation with foreign investors or by developing their competencies in knowledge-based industries,” explains Dr. Eliza Przeździecka, professor at SGH and director of the Institute of International Economics at SGH.
Although Poland is no longer perceived as a low-cost labor market, it remains one of the top global locations for business service centers, employing over 450,000 people in more than 1,900 centers. As this sector evolves and customer expectations rise, the Polish market is not only undergoing transformation but is also focusing on improving service quality. Additionally, it has shown high resilience to global crises. Another key factor for investors is Poland’s strategic location.
“Poland, being centrally positioned in this region with a well-developed road and transportation infrastructure and unrestricted access to EU markets, can be a highly attractive investment destination for British investors,” says Eliza Przeździecka.
The BPCC report indicates that the cumulative value of British investments in Poland has already reached €91.4 billion, representing a 103% increase compared to 2018. Major British investors include GSK, BP, Castorama, and HSBC, making the UK the fifth-largest foreign investor in Poland.
“We have highly rated and well-developed economic relations based on both trade and investment. The future looks promising, and I believe we have yet to explore all the industries and economic sectors in which we could deepen our cooperation,” adds the director of the Institute of International Economics at SGH.
BPCC data also confirms that, despite Brexit, trade relations between Poland and the UK have gained new momentum. In 2023, the total value of traded goods and services reached a record €36.4 billion, reflecting a 35% increase compared to 2018.
The primary categories of Polish exports to the UK include machinery, equipment, transport goods, food, and livestock, as well as industrial products. On the import side, the UK supplies Poland mainly with machinery, equipment, transport goods, and chemicals.
“In trade and industrial production, a key area of cooperation remains the large sector of machinery and equipment, particularly components supplied to the UK, including data processing machines. This is a significant group of goods in which we can strengthen our long-term competitiveness. Additionally, the UK has substantial food supply needs, and Poland can be a key provider,” concludes Dr. Eliza Przeździecka.
