Poorest Countries in Europe: Risk or Opportunity?

Poorest Countries in Europe: Problem or Opportunity
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In this video we will discuss the poorest countries in Europe by GDP per capita (PPP adjusted).
data source: tradingeconomics

01:09 10 Bulgaria

We will start our list with Bulgaria, which is currently the tenth poorest country in Europe. There are many countries which are poorer than Bulgaria on the continent, but currently Bulgaria is the poorest country in Europe which is also a member of the European Union.
Bulgaria has been one of the poorest nations in Europe for many decades, and it is still doing a long transition from a highly centralized and planned economy to a more dynamic and efficient market economy.
The fact that Bulgaria has joined the European helped the country immensely in economic and social terms. Bulgaria, however, still struggles with some of its old problems, such as inefficient infrastructure and a high level of corruption. For that reason, Bulgaria is currently the poorest country in the European Union and the 10th poorest country in Europe.

02:17 9 Belarus

Belarus is currently the 9th poorest country in Europe if we consider GDP per capita as our measure to rank countries by wealth.
This Eastern European nation currently has a GDP per capita of 19148 USD.

03:08 8 Montenegro

The next country is Montenegro. Montenegro is one of the smallest countries in Europe in terms of population, with slightly more than 600k inhabitants. Montenegro, like most Southern Balkan nations, is struggling to keep its economy competitive, as well as to attract foreign investment. Economic sectors that are doing well are mostly focused on exploring the natural beauties of the country, located on the Adriatic coast. Tourism and real estate are two sectors doing relatively well in the country.

04:03 7 Serbia

Serbia is the next country in our list, and it comes unfortunately as no surprise to see this Balkan nation in the list of the poorest countries in Europe.
Serbia currently has a GDP per capita of 18210, which is comparable to some countries bordering it, like Bulgaria and Bosnia and Herzegovina, but also much inferior to other neighboring countries such as Hungary and Croatia.
There are many factors slowing down growth in Serbia such as the rampant corruption and the excessive bureaucracy.

05:02 6 N Macedonia

North Macedonia is another country in the Western Balkans which ranks high in the list of the poorest nations in Europe. It is also the country with the newest name in Europe, after a two decade long name dispute with its Southern neighbor Greece.

05:54 5 Bosnia and Herzegovina

Bosnia and Herzegovina is another country in the Western Balkan region, ranked among the poorest in Europe. The relatively recent events in Bosnia in the 90s definitely contributed to the country currently unexciting economic prospects.
Bosnia and Herzegovina is one of the countries with the highest unemployment rates currently in Europe.
On the good side of things, Bosnia uses a flat tax system, currently at 10%, and it is relatively easy to get residency in the country.

06:43 4 Albania

Albania is the fourth poorest country in Europe currently, and a country full of opportunities in my personal opinion.
Even though Albania was one of the most secluded nations in the world until the early 90s, now the country is pretty open for foreigners willing to invest in it.
Of course, Albania still has a lot to develop in many sectors, such as transport infrastructure for example, but it is showing good signs of improvement.

07:47 3 Ukraine

Ukraine is the third poorest country in Europe, and by far the largest in our list both in terms of area, as well as in population.
Ukraine is a country with huge potential and it has many things in its favor, but it also has severe problems that impact its economic performance.

08:40 2 Moldova

Moldova is the second poorest nation in Europe, and it is the first one if we consider only countries that are recognized by a vast majority of the UN states.
Moldova currently has a GDP per capita of 12325 and the average salaries in the capital Chisinau range around Y.
Moldova was once part of the Soviet Union, and its political past still affects its present day economy.

09:30 1 Kosovo

Kosovo is currently listed as the poorest country in Europe. I am not going to enter the matter of whether Kosovo should be considered a country or not, but according to the current financial data, Kosovo is the poorest country in Europe.
Currently, Kosovo’s GDP per capita is 10776 dollars. That’s roughly 10 times less than in Luxembourg, currently the wealthiest nation in Europe by GDP per capita.