When, in May 2004, the European Union welcomed the accession of 10 new member countries — primarily from former Communist Central Europe and the Baltics — the EU's population increased by 20%. The 10 Accession States added a combined population of 75 million and GDP of more than $430 billion. There is a considerable momentum in these economies as a result of the major investment by global companies, the emergence of local SMEs and the restructuring of former state corporations. Each major country in the region is a substantial industrial and consumer market in its own right and many of these countries are working hard to catch up on the rest of Europe and have shown, by solid economic growth, that they have the capability to become more important players in Europe. This book examines how the accession process has affected the economic prospects of the new member states and the enlarged EU as a whole. It focuses on the opportunities for foreign investors in each of the 10 new members, comparing their economic environment and business conditions with those of the 15 longer-established member states. It also includes a detailed assessment of business conditions in the three latest admission candidates: Bulgaria, Croatia and Romania and details of key inward investors.

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