Bosnia and Herzegovina: Doing business and staying in touch
Doing Business in Bosnia and Herzegovina
Building trust and personal relationships is crucial in Bosnian business culture. Initial meetings are often more about getting to know each other than immediate business negotiations.
Business interactions are generally formal, especially in initial meetings. Titles and formal forms of address (Mr., Ms., or academic/professional titles) are important and should be used until invited to use first names.
Handshakes are the standard greeting; they should be firm but not overly aggressive.
The official languages are Bosnian, Serbian, and Croatian, but English is widely spoken in business, particularly among younger professionals.
Economy
Bosnia and Herzegovina is a developing economy characterised by moderate growth and a diverse industrial base. The country also has strong trade ties predominantly within Europe.
GDP
US$27.05 billion (2023).
Main exports
Electricity, furniture, wood, iron and steel products.
Main imports
Mineral fuels and oils, machinery, vehicles, and plastics products.
Main trading partners
Croatia, Germany, Serbia, Italy, Austria.
Keeping in Touch in Bosnia and Herzegovina
Mobile Phone
Mobile coverage in Bosnia and Herzegovina is generally reliable in urban areas like Sarajevo, Mostar, and Banja Luka, as well as along major roads and highways. However, coverage can be patchy or unavailable in rural and mountainous regions. Tourists should plan accordingly if travelling to remote areas.
The major telcos are BH Telecom, m:tel, and HT Eronet.
Internet
Free Wi-Fi is widely available in hotels, restaurants, and cafés, especially in tourist areas.
Media
Media freedom in Bosnia and Herzegovina is classified as partially free, with significant challenges stemming from political pressures, ethnic divisions, and financial instability within the media sector.
Online platforms are increasingly popular but face challenges like disinformation and cyber harassment.
Online platforms that provide news in English include Sarajevo Times, Balkan Insight, Total Bosnia and Herzegovina News, and Al Jazeera Balkans (English versions).
