Romania's business environment has attracted a great deal of foreign interest in recent years. With one of the lowest labour costs in the EU, a strategic geographic location within Southeastern Europe, a relative abundance of natural resources, a fairly diverse economy, and a growing middle class, the Romanian economy has been referred to, by some, as the “Tiger of the East”. Not over-reliant on one sector or another, agriculture, industry and services are all significant contributors to the economy. With over 10 million hectares of farmland, agricultural production employs roughly one quarter of the population (one of the highest rates in Europe). Romania's mineral production is adequate to supply its manufacturing base, while it has diverse energy sources (including coal, oil, natural gas, hydro, nuclear and wind). In terms of services, Romania is a regional leader in IT and software development, while tourism is one of the most dynamic and fastest growing sectors of the economy.
Tourism's success is due to the fact that Romania offers popular seasonal attractions (summer sunbathing on the Black Sea, winter downhill skiing in the mountains) that are very reasonably priced on a European-wide comparison. In addition, cultural and historic attractions, like the medieval cities of Transylvania, are exceptionally popular with foreign visitors.