Bucharest is emerging as one of Europe’s most attractive locations for Global Capability Centres (GCCs) as multinational companies seek lower costs and skilled talent amid tight labor markets in Western economies, according to a new study by Savills and CoreNet Global.
The Romanian capital ranked 14th among 27 global GCC destinations for office costs, averaging EUR 252 per sqm per year in tech-driven districts such as Centre-West. That makes it the third most cost-efficient office market in Europe, said Mădălina Marinescu, head of office agency at Crosspoint Real Estate, Savills’ Romanian associate.
“IT&C, BPO, and SSC companies have consistently represented a significant share of office demand, making up over 40% of the market. With sustainability becoming an increasingly important differentiator, Bucharest has the advantage of over 65% of its modern office stock holding green certifications,” she added.
GCCs – in-house hubs of multinational firms located in lower-cost markets – benefit not only from cheaper office space but also from significantly lower salary costs.
Entry-level wages for STEM graduates and customer support roles in Bucharest are up to 73% below those in New York or London, according to Savills’ benchmark. The report placed Bucharest 21st worldwide for entry-level STEM salaries and 17th for customer support agents.
The findings come as Western Europe grapples with historically low unemployment, aging populations, sluggish productivity growth, and a shrinking pool of skilled workers. In a survey conducted by Savills and CoreNet Global, 63% of companies said talent availability had declined over the past three years.
Globally, India dominates the GCC landscape with more than 1,700 centres and 1.9 million professionals, mainly serving US firms.
In Europe, however, Central and Eastern European countries have become preferred destinations due to regulatory alignment and proximity to EU-based corporations. Poland leads the region, followed by Romania, the Czech Republic, Hungary, and the Baltic states.
Looking ahead, the focus of GCCs is shifting toward advanced technologies. Romania’s workforce is well positioned, with the World Economic Forum’s Future of Jobs Report 2025 showing that 94% of local employers are investing in reskilling and 79% plan to hire workers with emerging skills such as AI.
“With its competitive costs, strong talent base, and growing focus on advanced skills, Bucharest is emerging not just as a cost-efficient location, but as a future-ready hub for Global Capability Centers in Europe,” reads the press release.
Crosspoint Real Estate, Savills’ partner in Romania, marked its 20th anniversary this year. Savills, founded in 1855, reported revenues of GBP 2.40 billion in 2024.
irina.marica@romania-insider.com
(Photo source: press release)
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