Business environment in Bucharest
By far the country’s economic powerhouse, Bucharest is a city of more than 2 million people and is bustling with life and open to business. Bucharest is home to 9% of Romania’s population but accounts for almost a quarter of the nation’s GDP. A majority of national and international companies have selected Bucharest for their headquarters, thanks to its modern business centers, public safety and an efficient and growing public transport system. It’s relatively easy to open a business in Romania, while the cost of living is still cheap compared to Western European markets. Everything you expect from a metropolis can be found in Bucharest from street food to gourmet restaurants, exclusive entertainment, nightlife etc.
Bucharest, Romania
Communications, media and PR market in Bucharest
Bustling and very competitive, younger than many mature markets like the U.S. or Germany. The market is dominated by large international and some local players, with Free Communications constantly ranking among Romania’s top 15 agencies by turnover. With legacy press dying and a media landscape dominated by TV & social media, the main action fields for comms agencies are digital communication, BTL, consulting and online, TV and outdoor advertising.
Key expertise of Free Communication
Free Communication specializes in business consulting, branding, rebranding and brand positioning, strategic communications, digital communication and events/BTL. The agency has won numerous awards in such fields as social media communication, corporate communication, creative content and CSR communication. Our expertise includes retail & FMCG, service industries, pharmaceuticals, banking, aviation and automotive industries.
Top 3 advice for foreign companies to navigate the media and communications environment in Bucharest
1. Cultural Insight is Crucial: Bucharest is not your typical Eastern European city, so leave this prejudice behind before trying to succeed in this market. Bucharesters are generally educated, welcoming and speak English. There’s a whole industry specialized in helping foreign investors and entrepreneurs enter the local market. Sitting at the crossroads of three major cultural influences – Western, Levantine and Slavic – the Bucharest business world is a juxtaposition of all of them, with fine nuances. As a first advice, a newcomer should trust and act upon written, legal agreements, rather than verbal promises.
2. Befriend peers and local advisors: Bucharest has a rather mature networking and business environment, with expat, culture and business events aplenty. Support from authorities and public administration depends on specifics such as the location of your business or the political culture of that institution. Ask for local advice prior to commitments, build trust and nurture relationships with local contact and peers from the industry.
3. Blend with locals until you’re one of them: Living in a younger and growing Western democracy, Romanians are generally early adopters Western trends, from language and mindset to how-tos and consumer goods. Bucharest is a cosmopolitan, digital-savvy city, with high broadband Internet speed and virtually everyone using smartphones, thus being a good ground for testing & deploying new business, products, services and technology.
Most influential media for consumer communication in Bucharest
- No. 1 are social media and influencers. Notably Facebook and Tik Tok.
- General and news-oriented major TV stations. TV consumption is still huge, particularly among people over 40.
- Newspapers are all but dead, legacy media is still powerful online, but losing ground to information and advertisement in social media.
- Radio is still a thing in the city as car-obsessed locals spend a lot of time in traffic jams and are exposed to radio.
- While in slow decline, outdoor advertising is part of daily life in the city, scattered with billboards, both classic and digital
The most popular social media channels in Romania
- YouTube: 12.9 million users. Preferred platform for streaming & podcasts
- Facebook: 11 million users. Romania’s favorite social media platform
- TikTok: 7.4 million users. Mostly young, medium education
- Instagram 5.4 million users.
- LinkedIn: 4.2 million users monthly
- X: 1.51 million users. Not used in consumer communications
Most important international events in Romania in 2024
Political: Four rounds of elections will be held in Romania in 2024 (European, local, parliamentary, presidential)
Business: Brand Minds (the region’s biggest business event)
Culture: (music festivals such as Neversea, UNTOLD, Rockstadt Fest, Electric Castle, Summer Well, and international film & theater festivals like TIFF, Animest, FITS, FILIT)
Sports: Bucharest Marathon