Companies / Romania
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Romanians Continue Retail Spending Spree
November 2006 | Market AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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Rising incomes, easier borrowing, lower taxes - this mix of factors appears to be fuelling a retail boom in Romania as accession to the EU approaches at the beginning of 2007. Romania's National Statistics Institute reported that retail sales of food, alcohol and tobacco rose around 21% year-on-year (y-o-y) in September, with non-food sales rising 23%. The strong retail data comes amid a flurry of announcements by food retailers of expansions and massive investments in new shopping