Lviv, Ukraine

🇺🇦 Lviv is the largest city in western Ukraine. Lviv is one of the main cultural centres of Ukraine. In 1991, it became part of the independent nation of Ukraine. Administratively, Lviv serves as the administrative centre of Lviv Oblast and has the status of city of oblast significance.

Lviv was the centre of the historical regions of Red Ruthenia and Galicia. The historical heart of the city, with its old buildings and cobblestone streets, survived Soviet and German occupations during World War II largely unscathed. The city has many industries and institutions of higher education such as Lviv University and Lviv Polytechnic. Lviv is also the home of many cultural institutions, including a philharmonic orchestra and the Lviv Theatre of Opera and Ballet. The historic city centre is on the UNESCO World Heritage List.

Economy Lviv is the most important business centre of Western Ukraine. As of 2011 the city has invested 837.1 million US dollars into the economy, accounting for almost two-thirds of total investment in the Lviv region. In 2015, the companies of Lviv received $14.3 million of foreign direct investment; which is however two times less than a year earlier ($30.9 million in 2014). During January-September 2017 the general amount of direct foreign investment received by the local government in Lviv is $52.4 million. According to the statistics administration, foreign capital was invested by 31 countries (some of the main investors: Poland – 47.7%; Australia – 11.3%; Cyprus – 10.7% and the Netherlands – 6%).

The total revenue of the city budget of Lviv for 2015 is set at about UAH 3.81 billion, which is 23% more than a year earlier (UAH 2.91 billion in 2014). As of 10 November 2017, the deputies of the Lviv City Council approved a budget in amount of UAH 5.4 billion ($204 million). The large part of which (UAH 5.12 billion) was the revenue of the fund of the Lviv.

The average wage in Lviv in 2015 in the business sector amounted to 14,041 UAH, in the budget sphere - 9,475 UAH. On 1 February 2014, registered unemployment was 0.6%. Lviv is one of the largest cities in Ukraine and is growing rapidly. According to the Ministry of Economy of Ukraine the monthly average salary in the Lviv is a little less than the average for Ukraine which in February 2013 was 6050 UAH ($755). According to the World Bank classification Lviv is a middle-income city. In June 2019, the average wage was amounted to 23,000 UAH ($920), which is in 18,9% more than in the previous year.

Lviv has 218 large industrial enterprises, more than 40 commercial banks, 4 exchanges, 13 investment companies, 80 insurance and 24 leasing companies, 77 audit firms and almost 9,000 small ventures. For many years machinery-building and electronics were leading industries in Lviv. The city-based public company Electron, trademark of national television sets manufacturing, produces the 32 and 37 inches liquid-crystal TV-sets. The Electrontrans specializes in design and production of modern electric transport including trams, trolleybuses, electric buses, and spare parts. In 2013 Elektrotrans JV started producing low-floor trams, the first Ukrainian 100% low-floor tramways. LAZ is a bus manufacturing company in Lviv with its own rich history. Founded in 1945, LAZ started bus production in the early 1950s. Innovative design ideas of Lviv engineers have become the world standard in bus manufacturing.

The total volume of industrial production sold in 2015 amounted to UAH 24.2 billion, which is 39% more than a year earlier (UAH 14.6 billion in 2014).

There are several banks based in Lviv, such as Kredobank, Idea Bank, VS Bank, Oksi Bank and Lviv Bank. None of these banks have bankrupted during the political and economic crisis of 2014–2016. It can be explained by the presence of the foreign capital in most of them.

In 2015–2019, the city experienced a construction spike. In Q1 2019, according to statistical data, growth in the volume of new housing construction was recorded in Lviv (3.2 times, to 377,900 square meters).

Lviv is a major business centre between Warsaw and Kyiv. According to the Lviv Economic Development Strategy, the main branches of the city's economy by 2025 should become tourism and information technologies (IT), the business services and logistics are also a priority. In addition, The Nestlé service centre is in Lviv. This centre guides the company's divisions in 20 countries of Central and Eastern Europe. Also during 2016 the Global Service Center VimpelCom in Lviv was launched, which serves finance, procurement and HR operations in eight foreign branches of this company.

There are many restaurants and shops as well as street vendors of food, books, clothes, traditional cultural items and tourist gifts. Banking and money trading are an important part of the economy of Lviv with many banks and exchange offices throughout the city.

Information technology Lviv is also one of the leaders of software export in Eastern Europe with expected sector growth of 20% by 2020. Over 15% of all IT specialists in Ukraine work in Lviv, with over 4100 new IT graduates coming from local universities each year. About 2,500 tech enthusiasts attended Lviv IT Arena, the largest technology conference in Western Ukraine. Over 24,000 IT specialists work in Lviv as of 2019. Lviv is among top five most popular Ukrainian cities for opening R&D centre in IT and IT out-sourcing spheres together with Kyiv, Dnipro, Kharkiv and Odesa.

In 2009, KPMG, one of the well-known international auditing companies,[which?] included Lviv in top 30 cities with the greatest potential of information technology development. As of December 2015, there were 192 IT-companies operating in the city, of which 4 large (with more than 400 employees), 16 average (150–300 employees), 97 small (10–110 employees) and 70 micro companies (3–7 employees). From 2017 to 2018 the amount of IT-companies raised to 317.

The turnover of the Lviv's IT industry in 2015 amounted to $300 million U.S. About 50% of IT services are exported to the US, 37% to Europe, and the rest to other countries. As of 2015, about 15 thousand specialists were employed in this industry with the average salary of 28 thousand UAH. According to a study of the Economic Effect of the Lviv IT-Market, which was conducted by Lviv IT Cluster and sociological agency "The Farm", there are 257 IT companies operating in Lviv in 2017, that employs about 17 thousand specialists. The economic impact of the IT industry in Lviv is $734 million U.S.

There are 15 top universities in Lviv, 5 of which prepare highly skilled specialists in computer and IT technologies and supply over 1,000 IT graduates to the market annually.

Lviv IT out-sourcing companies gathered all kinds of Ukrainian developers in one place, resulting in many front-end interns, JavaScript developers, back-end and full-stack coders with proper qualifications, experience, and good English language skills. Some IT companies in Lviv offer out-sourcing software services to international corporations rather than developing their software product. Lviv is an up and coming city[according to whom?] with a long history tied to Europe and has a strongly developed tourism sector. There are direct flights to the EU from Lviv.

Lviv, Ukraine 
<b>Lviv, Ukraine</b>
Image: Adobe Stock ivan kmit #247641815

Lviv is rated E by the Global Urban Competitiveness Report (GUCR) which evaluates and ranks world cities in the context of economic competitiveness. E cities are regional gateway cities. Lviv was ranked #52 by the Nomad List which evaluates and ranks remote work hubs by cost, internet, fun and safety. Lviv has a population of over 717,803 people.

Twin Towns – Sister Cities Lviv is twinned with: 🇨🇦 Winnipeg, Canada; 🇩🇪 Freiburg im Breisgau, Germany; 🇵🇱 Rzeszów, Poland; 🏴󠁧󠁢󠁥󠁮󠁧󠁿 Rochdale, England, UK; 🇭🇺 Budapest, Hungary; 🇮🇱 Rishon LeZion, Israel; 🇵🇱 Przemyśl, Poland; 🇵🇱 Kraków, Poland; 🇷🇸 Novi Sad, Serbia; 🇬🇪 Kutaisi, Georgia; 🇵🇱 Wrocław, Poland; 🇵🇱 Łódź, Poland; 🇧🇦 Banja Luka, Bosnia and Herzegovina; 🇵🇱 Lublin, Poland; 🇬🇪 Tbilisi, Georgia; 🇱🇹 Vilnius, Lithuania; 🇨🇳 Chengdu, China.

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