The survey found that nearly six in ten industry representatives rate current business conditions as better or the same as a year ago, compared to 44% in 2023. "The importance of, among other things, the skills of Poland's workforce compared to the EU has increased, with 62% of respondents rating them as better than average. A year ago it was 42%." In turn, the positive assessment of the speed of supply chain operations grew to 46%.
For the first time since the 2018/2019 edition, the value of the Confidence Index broke the 50-point barrier, indicating improved sentiment in the sector.
In 2024, economic pressures appear to be easing, with inflation levels in Poland significantly lower than in previous years. GDP results for the first quarter of 2024 and its forecast for the rest of the year are positive. "Logistics service providers, in particular, are cautiously optimistic about the coming year, despite a number of market challenges, including rising labor costs and unfavorable exchange rate changes," says Michal Sniadala of CBRE.
Last year, 56% of respondents considered the current business situation more difficult. This year, 56% rate conditions as better or the same. In addition, for 4% of respondents, business conditions are significantly more favorable, in contrast to no such opinion last year.
The most positive impact on the company's performance in Poland at the moment is transport capacity (39%), followed by the size of warehouse space (33%). At the end of Q1 2024, Poland offered more than 32.1 million sq m of storage space. Negative factors include increases in fuel and energy prices and higher labor costs.
2023 has been a challenging year for the warehouse market, but recent months have seen an improvement in sentiment. "56% of companies see increased demand for logistics space in 2024, but are counting on some challenges in acquiring it," says Bartlomiej Hofman of P3 Logistic Parks.
Respondents to the Confidence Index 2024 survey rated Poland's workforce skills (62%) and speed of supply chain operations (46%) as higher than the EU average. Poland is seen as average in terms of the cost of supply chain operations, but in line with European averages in terms of investment attractiveness and quality of logistics space.
The seventh edition of the Confidence Index 2024 survey, conducted by Analytiq in March-May 2024, included 50 respondents from logistics companies and manufacturers and retailers.