Digital Challengers in the next normal in Central and Eastern Europe

Acceleration of creating a digital, tech-driven economy could be the key to post-pandemic growth in the region.

 
The development of Central and Eastern European economies over the past few decades is truly a remarkable achievement. The ten CEE countries analyzed in this report—Bulgaria, Croatia, the Czech Republic, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia, and Slovenia—increased per capita GDP by 115 percent in the period 2004–2019.1 In 2019, the market openness of these Digital Challengers, as we call them, reached 123 percent2 and the average unemployment rate across the region was the lowest in recent history, at just 4.6 percent. Productivity increased to €36 per hour worked in 2019 and is catching up with the levels seen in Western Europe.

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Πηγή: mckinsey