Bratislava - Economy

Economy

Main article: Economy of Bratislava See also: List of tallest buildings in Bratislava

The Bratislava Region is the wealthiest and most economically prosperous region in 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. The GDP per capita (PPP), valued at €41,800 (2009), is 178% of the EU average and is the fifth-highest of all regions in the EU member states.

The average gross monthly salary in Bratislava region in 2011 was €1220.

The unemployment rate in Bratislava was 1.83% in December 2007. Many governmental institutions and 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, telecommunications, and tourism. The Bratislava Stock Exchange (BSSE), the organiser of the public securities market, was founded on March 15, 1991.

Companies with the highest value added according to TREND TOP 200 ranking (2011), operating predominantnly in Bratislava, include Volkswagen Slovakia automotive plant, Slovnaft refinery (MOL), Eset (a software developer), Asseco (also a software company), PPC Power (producer of heat and steam) and Trenkwalder personnel agency.

The automaker Volkswagen built a factory in Bratislava in 1991 and has expanded since. Currently, its production focuses on SUVs, which represent 68% of all production. The VW Touareg is produced in Bratislava, and the Porsche Cayenne and Audi Q7 are partially built there.

In recent years, service and high-tech-oriented businesses have prospered in Bratislava. Many global companies, including IBM, Dell, Lenovo, AT&T, SAP, and Accenture, have built outsourcing and service centres here or plan to do so soon. Reasons for the influx of multi-national corporations include proximity to the Western Europe, skilled labour force and the high density of universities and research facilities.

Other large companies and employers with headquarters in Bratislava include Slovak Telekom, Orange Slovensko, Slovenská sporiteľňa, Tatra banka, Doprastav, Hewlett-Packard Slovakia, Slovnaft, Henkel Slovensko, Slovenský plynárenský priemysel, Kraft Foods Slovakia, Whirlpool Slovakia, Železnice Slovenskej republiky, and Tesco Stores Slovak Republic.

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 or are planned in Bratislava. Areas attracting developers include the Danube riverfront, where two major projects are already finished: River Park in the Old Town, and Eurovea near the Apollo Bridge. Other locations under development include the areas around the main railway and bus stations, around the former industrial zone near the Old Town and in the boroughs of Petržalka, Nové Mesto and Ružinov. It is expected that investors will spend €1.2 billion on new projects by 2010. The city has a balanced budget of 277 million Euros (as of 2010), with one fifth 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, and the water utility. The city also manages municipal organisations such as the City Police (Mestská polícia), Bratislava City Museum and ZOO Bratislava.