Bucharest Bucharest ( , ; ro, București ) is the capital and largest city of Romania, as well as its cultural, industrial, and financial centre. It is located in the southeast of the country, on the banks of the Dâmbovița River, less than north of ...

is the most economically developed and

industrialised Industrialisation ( alternatively spelled industrialization) is the period of social and economic change that transforms a human group from an agrarian society into an industrial society. This involves an extensive re-organisation of an econom ...

city in

Romania Romania ( ; ro, România ) is a country located at the crossroads of Central Europe, Central, Eastern Europe, Eastern, and Southeast Europe, Southeastern Europe. It borders Bulgaria to the south, Ukraine to the north, Hungary to the west, S ...

, producing around 21% of the country's

GDP Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced and sold (not resold) in a specific time period by countries. Due to its complex and subjective nature this measure is often ...

and about one-quarter of its industrial production, while only accounting for 9% of the country's population. Almost one third of national taxes is paid by Bucharest's citizens and companies. In 2009, at purchasing power parity, Bucharest had a per-capita GDP of €26,100, or 111% that of the

European Union The European Union (EU) is a supranational political and economic union of member states that are located primarily in Europe. The union has a total area of and an estimated total population of about 447million. The EU has often been des ...

average and more than twice the

n average. The city's strong economic growth has revitalised infrastructure and led to the development of many shopping malls and modern residential towers and high-rise office buildings. In September 2005, Bucharest had an unemployment rate of 2.6%, significantly lower than the national unemployment rate of 5.7%. Bucharest's economy is mainly centred on

industry Industry may refer to: Economics * Industry (economics), a generally categorized branch of economic activity * Industry (manufacturing), a specific branch of economic activity, typically in factories with machinery * The wider industrial sector ...

and

services Service may refer to: Activities * Administrative service, a required part of the workload of university faculty * Civil service, the body of employees of a government * Community service, volunteer service for the benefit of a community or a pu ...

, with services particularly growing in importance in the last ten years. The city serves as the headquarters of 186,000 firms, including nearly all large Romanian companies. An important source for growth since 2000 has been the city's property and construction boom, which has resulted in a significant growth in the construction sector. Bucharest is also Romania's largest centre for

information technology Information technology (IT) is the use of computers to create, process, store, retrieve, and exchange all kinds of data . and information. IT forms part of information and communications technology (ICT). An information technology system (I ...

and communications and is home to several software companies operating offshore delivery centers. Bucharest contains Romania's largest stock exchange, the

Bucharest Stock Exchange The Bucharest Stock Exchange (BVB) (Romanian: ''Bursa de Valori București'') is the stock exchange of Romania located in Bucharest. In 2019, the capitalization of BVB increased 23.4% compared to the previous year, to the value of EUR 37.8 billion ...

, which was merged in December 2005 with the Bucharest-based electronic stock exchange,

Rasdaq The Bucharest Stock Exchange (BVB) (Romanian: ''Bursa de Valori București'') is the stock exchange of Romania located in Bucharest. In 2019, the capitalization of BVB increased 23.4% compared to the previous year, to the value of EUR 37.8 billion ...

. The city has a number of international

supermarket A supermarket is a self-service Retail#Types of outlets, shop offering a wide variety of food, Drink, beverages and Household goods, household products, organized into sections. This kind of store is larger and has a wider selection than earli ...

chains such as

Kaufland Kaufland is a German hypermarket chain, part of the Schwarz Gruppe which also owns Lidl. The hypermarket directly translates to English as 'buy-land'. It opened its first store in 1984 in Neckarsulm and quickly expanded to become a major chain ...

Auchan Auchan () is a French multinational retail group headquartered in Croix, France. It was founded in 1961 by Gérard Mulliez and is owned by the Mulliez family, who has 95% stake in the company. With 354,851 employees, of which 261,000 have 5% s ...

Mega Image Mega or MEGA may refer to: Science * mega-, a metric prefix denoting 106 * Mega (number), a certain very large integer in Steinhaus–Moser notation * "mega-" a prefix meaning "large" that is used in taxonomy * Gravity assist, for ''Moon-Eart ...

Carrefour Carrefour () is a French multinational retail and wholesaling corporation headquartered in Massy, France. The eighth-largest retailer in the world by revenue, it operates a chain of hypermarkets, groceries stores and convenience stores, which ...

Cora Cora may refer to: Science * ''Cora'' (fungus), a genus of lichens * ''Cora'' (damselfly), a genus of damselflies * CorA metal ion transporter, a Mg2+ influx system People * Cora (name), a given name and surname * Cora E. (born 1968), German hi ...

and

METRO Metro, short for metropolitan, may refer to: Geography * Metro (city), a city in Indonesia * A metropolitan area, the populated region including and surrounding an urban center Public transport * Rapid transit, a passenger railway in an urba ...

. At the moment, the city is undergoing a retail boom, with a large number of supermarkets, and hypermarkets, constructed every year. For more information, see supermarkets in Romania. The largest shopping centres in Bucharest are

AFI Cotroceni AFI Cotroceni is a shopping mall in Bucharest, Romania. It is located in the western part of the city, between the city center and two of the largest residential districts, Militari and Drumul Taberei. With approximately of gross leasable area ...

Băneasa Shopping City Băneasa Shopping City is a shopping center in the north of Bucharest, Romania, opened on 18 April 2008. Located in the Băneasa neighborhood of Sector 1, it is part of the Băneasa Developments owned by convicted crimimaAurel and Radu Timofte. ...

Bucharest Mall Bucharest ( , ; ro, București ) is the capital and largest city of Romania, as well as its cultural, industrial, and financial centre. It is located in the southeast of the country, on the banks of the Dâmbovița River, less than north of ...

Plaza Romania Plaza Romania is a shopping mall in Bucharest, Romania. The construction, based on an uncompleted hunger circus abandoned after the fall of Nicolae Ceaușescu, has three distinguishable parts — a central structure with a dome in diameter ...

, City Mall, Mega Mall, Park Lake and

Unirea Shopping Center Unirea Shopping Center is a chain of two large shopping centres, the initial one being located in Unirii Square, Bucharest, Romania, and the second one in Brașov. Bucharest Opened in 1976 and enlarged in 1989, it was the largest department sto ...

. However, there are also a large number of traditional markets; the one at

Obor Obor is the name of a square and the surrounding district of Bucharest, the capital of Romania. There is also a Bucharest Metro station (on the M1 line) named Obor, which lies in this area. The district is near the Colentina and Moșilor ne ...

covers about a dozen city blocks, and numerous large stores that are not officially part of the market effectively add up to a market district almost twice that size. The city has the head offices of

Air Bucharest Air Bucharest is an charter airline with its head office in Sector 1, Bucharest, Romania. The airline operates charter flights to various destinations in Europe, Africa, and the Middle East out of Henri Coandă International Airport, Iași Inte ...

and

Blue Air Blue Air is a Romanian low-cost airline headquartered in Bucharest, with its hub at Henri Coandă International Airport. It is the largest Romanian airline by scheduled passengers flown. In 2017, Blue Air carried over 5 million passengers, a 40% ...

.Contact
" Blue Air. Retrieved on 26 December 2010. "Romania, Bucharest, Sector 1, Buzesti,l street 71, 5th floor, Tax reg no 16091846"

References

{{Economy of Romania