Poland's 'Family 500+' plan stimulates the rapid growth of the toy industry

by:Ennas      2021-11-10
On February 11, 2016, the Polish House of Representatives passed the Family 500+ plan, which will benefit 3.7 million children in 2.7 million families. According to the plan, Poland will provide a monthly subsidy of 500 PLN for the second and above children of each family, the first child of a family with a per capita monthly income of less than 800 PLN or the per capita monthly income of less than 1,200 PLN The first child of the mentioned family is also entitled to the subsidy if it is disabled. Polish Prime Minister Beata Sidwo said that while the plan provides support for Polish families and responds to changes in the demographic structure, it will also stimulate the country's economic development. This year, 17 billion zlotys will be distributed to Polish citizens through the plan. This fund will eventually form market demand and promote rapid and healthy economic development. A few months after the implementation of the plan, its stimulating effect on market growth has initially emerged. In September of this year, Poland’s 'Business Pulse Daily' released data stating that the Polish children’s market has grown rapidly. Children's products including food, toys, clothes and cosmetics reached 9.48 billion zlotys in 2015, an increase of 4.6% year-on-year. The publication predicts that the average annual growth rate of the market will be between 4.5-5% during 2016-2021. For the Polish children's products industry, this is undoubtedly a new development opportunity. In recent years, Poland's status both in the EU and on the international stage has been increasing day by day. At present, Poland is the country with the largest economic volume in Central and Eastern Europe, ranking 24th in the world in terms of GDP in 2015. What's more worth mentioning is that Poland is the only country in the European Union that has maintained positive economic growth after the outbreak of the international **** crisis. According to data released by the Polish Central Bureau of Statistics, Poland's gross domestic product (GDP) increased by 3.3% in 2014 and 3.6% in 2015. Poland's strong economic momentum depends on the particularity of its economic situation. Poland's economic growth mainly depends on domestic demand. Poland has a population of 38 million, making it the eighth most populous country in Europe. Among them, young people account for 50%-60%, and consumer demand is strong. The implementation of the Family 500+ plan will further stimulate domestic demand and bring great development space to the market prospects of the children's products industry. The GIFT SHOW POLAND held at the Warsaw Exhibition Center in Poland on May 26-28, 2017 provides an excellent platform for Chinese companies to enter the Polish children's products market. The exhibition is currently the largest gift, toy and baby products industry event in Eastern Europe. In 2016, more than 200 companies from 18 countries including Poland, China, Britain, Latvia, Czech Republic, Hungary, Slovakia, Portugal, Belgium, Russia, Romania participated in the exhibition, and the number of registered professional buyers exceeded 10,000.
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