Economy of 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. [cite web | publisher = City of Bratislava | url = http://www.bratislava.sk/en/vismo5/dokumenty2.asp?u=700000&id_org=700000&id=2018019 | title = Economy and employment | date = February 23, 2006 |accessdate = April 26 | accessyear = 2007] The Bratislava Stock Exchange (BSSE), the organiser of the public market of securities, was founded on March 15, 1991. [cite web | publisher = City of Bratislava | url = http://www.bsse.sk/Content/EN/StockExchange/Basic%20information.htm?LANG=EN | title = Basic Information | date = no date |accessdate = May 3 | accessyear = 2007]

Budget

Bratislava has a balanced budget of almost six billion Slovak korunas (€182 million) as of 2007.cite web |title= Budget|url= http://visit.bratislava.sk/en/vismo/dokumenty2.asp?id_org=700014&id=1034&p1=1812|accessdate=2007-04-29 |author= Official Website of the City of Bratislava] 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.cite web |title= Obchodné spoločnosti mesta|url= http://www.bratislava.sk/vismo5/o_index.asp?u=700000&id_org=700000&d=13&p1=52000|accessdate=2007-04-29 |author= Official Website of the City of Bratislava |language= Slovak] The city also manages municipal organisations such as the City Police ("Mestská polícia"), Bratislava City Museum, ZOO Bratislava, etc.cite web |title= Mestské organizácie|url= http://www.bratislava.sk/vismo5/o_index.asp?u=700000&id_org=700000&d=12&p1=52000|accessdate=2007-04-29 |author= Official Website of the City of Bratislava |language= Slovak]

GDP

Bratislava region accounts for about 26% of Slovak GDP. [cite web | publisher = Eurostat | url = http://forum.europa.eu.int/irc/dsis/regportraits/info/data/en/sk01_eco.htm | title = Bratislavsky Kraj (Bratislava Region) - Economy | date = February 2004 | accessdate = April 25 | accessyear = 2007] The GDP per capita (PPP), which was valued at €27,802 (2004), reaches 129.3% of the EU average, which is the second highest level (after Prague) of all regions in all the recently joined countries. [cite web | publisher = Eurostat | url = http://epp.eurostat.ec.europa.eu/pls/portal/docs/PAGE/PGP_PRD_CAT_PREREL/PGE_CAT_PREREL_YEAR_2007/PGE_CAT_PREREL_YEAR_2007_MONTH_02/1-19022007-EN-AP.PDF | title = Regional GDP per inhabitant in the EU27 | date = February 19, 2007 | format = PDF | accessdate = April 25 | accessyear = 2007]

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. [cite news | author= Jeffrey Jones|work=The Slovak Spectator | url = http://www.slovakspectator.sk/clanok-7923.html | title = VW Bratislava expands production | date = 1997-08-27 | accessdate = 2007-04-25] 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. [cite web | publisher = Volkswagen | url = http://www.volkswagen.com/vwcms_publish/vwcms/master_public/virtualmaster/en2/unternehmen/geschichte.html | title = A brief journey through a long history: 2000-2003 | date = 2007 | accessdate = April 25 | accessyear = 2007] [cite web | publisher = Global Auto Systems Europe | url = http://www.globalautoindex.com/maker.plt?no=2082 | title = Volkswagen (Slovak Republic) | date = no date | accessdate = April 25 | accessyear = 2007] [cite web | publisher = The Slovak Spectator | url = http://www.slovakspectator.sk/clanok-27262.html | title = Volkswagen sales up to a record Sk195.5 billion | date = April 2, 2007 | accessdate = April 25 | accessyear = 2007]

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. [cite web | publisher = Slovak Investment and Trade Development Agency | url = http://www.sario.sk/?news&novinka=58 | title = Lenovo invests in Slovakia with new jobs | date = April 20, 2006 | accessdate = April 25 | accessyear = 2007] [cite web | publisher = Dell | url = http://www.job.dell.sk/buxus/generate_page.php?page_id=398 | title = Dell in Bratislava | date = 2007 | accessdate = April 25 | accessyear = 2007]

Biggest industries and companies

Other important companies and big employers with headquarters in Bratislava include: [cite web | publisher = eTREND | url = http://english.etrend.sk/rankings/ | title = 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 | date = 2006 | accessdate = April 25 | accessyear = 2007]
*IT companies - BGS Distribution, Asbis SK, Hewlett-Packard Slovakia
*Telecommunication companies - Slovak Telekom (owner of T-Mobile Slovensko), Orange Slovensko, Slovanet
*Financial institutions - Slovenská sporiteľňa, Všeobecná úverová banka, Tatra banka, UniBanka, Allianz – Slovenská poisťovňa, Kooperativa poisťovňa, Winterthur
*Construction companies - Doprastav, ZIPP Bratislava, Strabag
*Chemical and Pharmaceutical companies - Slovak's largest oil refinery Slovnaft, Henkel Slovensko
*Utility companies - Slovenský plynárenský priemysel (literally Slovak Gas Industry), Slovenské elektrárne (Slovak Electric company)
*Food companies - Kraft Foods Slovakia, Palma-Tumys, Rajo
*Engineering companies - Whirlpool Slovakia, Johnson Controls International, SAS Automotive
*Travel companies - Satur Travel
*Transportation companies - Železnice Slovenskej republiky, Cargo Slovakia, Dopravný podnik Bratislava
*Retailing companies - Tesco Stores Slovak Republic

Construction boom

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. [cite web | publisher = City of Bratislava | url = http://www.visit.bratislava.sk/en/vismo/dokumenty2.asp?id_org=700014&id=1084&p1=1859 | title = Visit Bratislava: Real Estate Market | accessdate = June 3 | accessyear = 2007] Areas attracting developers include the Danube riverfront, with two major projects already under construction: River Park [cite web | publisher = City of Bratislava | url = http://visit.bratislava.sk/en/vismo/dokumenty2.asp?id_org=700014&id=1072&p1=1850 | title = River Park | accessdate = June 6 | accessyear = 2007] in the Old Town, and Eurovea [cite web | publisher = City of Bratislava | url = http://visit.bratislava.sk/en/vismo/dokumenty2.asp?id_org=700014&id=1072&p1=1849 | title = EUROVEA International Trade Centre | accessdate = June 6 | accessyear = 2007] near the Apollo Bridge. Other locations under development include the areas around the main railway and bus stations, [cite web | publisher = City of Bratislava | url = http://visit.bratislava.sk/en/vismo/dokumenty2.asp?id_org=700014&id=1073&p1=1851 | title = Regeneration of Central Railway Station Square Area | accessdate = June 3 | accessyear = 2007] around the former industrial zone near the Old Town, [cite web | publisher = The Slovak Spectator | url = http://www.slovakspectator.sk/clanok.asp?vyd=2007004&cl=26446 | title = Twin City to uplift bus station | accessdate = 6 June | accessyear = 2007] and in the boroughs of Petržalka [cite web | publisher = City of Bratislava | url = http://www.visit.bratislava.sk/en/vismo/dokumenty2.asp?id_org=700014&id=1074&p1=1852 | title = Petržalka City | accessdate = June 6 | accessyear = 2007] and Ružinov. It is expected that investors will spend €1.2 billion on new projects by 2010. [cite web | publisher = City of Bratislava | url = http://www.bratislava.sk/vismo5/dokumenty2.asp?u=700000&id_org=700000&id=2011114 | title = New investments in Bratislava, especially near the Danube river | accessdate = 6 June | accessyear = 2007] 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%.

External links

* [http://www.bratislava.sk/soubory/700000/mayorcitybratislava2005.pdf] -Facts and figures (pdf format).

References