GfK’s local subsidiary grows 10 times more than the group

The Romanian subsidiary’s turnover amounted to €5.1 million last year, 40 percent higher than in 2006, according to GfK Romania’s Managing Director, Andi Dumitrescu, for Business Standard. Globally, GfK’s turnover totaled €1.16 billion, 4.5 percent higher year-on-year.

“The economic development of Central and Eastern European countries in recent years has resulted in constant growth of business in all industries. Market research is no exception and our growth comes from the interest of market players to provide the best solution to their clients’ needs,” Dumitrescu said.
For 2008, GFK Romania estimates €8 mln worth of business, or 56 percent higher year-on-year. The growth rate of the local market research segment amounts to 25-35 percent annually, significantly above the 5 percent rate of Western countries.

GfK’s main competitors on the local market are Daedalus Consulting, Synovate, Mercury Research and MEMRB.