While geographical and political definitions of the region may vary, in most common definition the Balkans consist of 11 countries with a population of 57.9 million people. Romania, Greece, and Bulgaria are the largest regional economies in the region.
Locals across the Balkans are well financially included – 80% of adults in the region have bank accounts. The E-commerce market revenue across the region is over 37 billion USD, and continues to rise with a rapid compound annual growth rate of 21.7%, expected to reach 81 billion USD market size by 2029.
With regards to payments, banking systems and cards are widely available across the region. Still, wallets and bank transfer solutions are often the preferred way to pay for the large amount of the regional population.
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Population 57.9 M -
Land size 0.47 M KM² -
GDP 990.1 Bn USD -
Median age 43.8 Yr
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E-commerce growth 21.7% -
E-commerce volume 37 Bn USD
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People with mobile phone (% age 15+)95%
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People with internet access (% age 15+)93.8%
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People with bank account (% age 15+)79.9%
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People with debit card (% age 15+)62.6%
- Card payments
- Online banking
- Wallets
- Other
The following opportunities in Balkans should not be missed by international merchants:
● Croatian digital infrastructure is well developed: more than 90% of the adult population have access to the Internet, as well as use mobile phones. Croatia’s E-commerce market is projected to grow by 21.5% annually, reaching over 5.9 billion USD by 2029. Learn more about opportunities for your business in Croatia.
● Thanks to a well-developed mobile and internet infrastructure, Slovenia’s E-commerce market volume is 2.3 billion USD, with an expected continuous compound annual growth rate of 21.2%. In 2029, it is expected that the E-commerce market will more than double and reach 5 billion USD. Learn more about opportunities for your business in Slovenia.
