Warsaw
Economy

Warsaw is the leading economic and financial hub of the Visegrád Group and the Three Seas Initiative. In 2021, the city's gross metropolitan product (GDP) was estimated at €100 billion, which places Warsaw 20th among the metropolitan areas in the European Union with largest GDP. Warsaw generates almost 1/5 of the Polish GDP and the country's national income. In 2020, Warsaw was classified as a global city, because Warsaw is a major global city that links economic regions into the world economy.

Warsaw's city centre (Śródmieście) and commercial Wola district are home not only to many national institutions and government agencies, but also to many domestic and international companies. Warsaw's ever-growing business community has been noticed globally, regionally, and nationally. In 2019 Warsaw was one of the top destinations for foreign investors in Europe.

The average monthly gross salary in the enterprise sector in the last quarter of 2022 amounted to 8,104 PLN and was 404 PLN higher than the average in the Masovian Voivodeship and as much as 1,450 PLN higher than in Poland. The highest gross salary was received by employees working in the information and communication section (11,701.47 PLN). There are 525,475 registered business entities in Warsaw, most of them in the districts of Śródmieście, Mokotów, Wola and Praga-Południe, 1.1 million people work in the enterprise sector. Warsaw has a well-developed office base, the office space is 6.27 million m2. The largest office buildings are Varso (63,800 m), Warsaw Spire (60 000 m), Forest Tower (51,500 m) and P180 (32,000 m), the largest projects under construction are The Bridge (47,000 m) and Skyliner II (38,000 m). The space resources of shopping centers in the Warsaw agglomeration in amount to over 1.7 million m.

In October 2019 Warsaw's unemployment rate was 1.3%, the lowest in the country. Shopping and consumerism is an important component of Warsaw's economy. The retail streets in Warsaw are New World Street (Nowy Świat) along with Krakowskie Przedmieście. These streets and their neighboring areas host many luxury stores and popular restaurants. However, most retailers choose to operate in the central shopping centres and malls such as Złote Tarasy-Golden Terraces, Galeria Mokotów and Westfield Arkadia. Luxury goods as well as designer labels can be found in the Vitkac Department Store and around Frascati.
keywords:forbidden_words