Regional Development Agency of the City of Prague
Key Competitive Attractions
Prague is the capital of the Czech Republic, and is home to 1.3 million people in the city, and 1.9 million in the metropolitan area. Prague is a city with a rich cultural heritage, and was named in 2010 as the best city in Eastern Europe for business by Cushman & Wakefield. Combining a highly modern business environment, with the Prague Stock Exchange, and specialist business venues, such as the Exhibition Grounds and Congress Centre, whilst offering competitive production costs, it is easy to see why Prague is so popular with foreign investors.
Prague has a GDP/head far above the Czech national average, at €42,800, the 5th highest GDP per inhabitant of any region in the EU, ahead of Paris and just behind Hamburg. Prague generates one fifth of all investment in the Czech Republic and over 20% of the GDP of the entire country.
Prague’s economy is largely based on the services sector and exports. Machinery and transport equipment is by far the largest sector, making up 44% of total exports. General manufacturing, chemicals, raw materials and fuels are all also important sectors.
Assistance and Support For New Business Investors
The Prague Regional Development Agency provides assistance for small and medium businesses looking to move into the region. The Prague local government itself offers simple advice on running a business in the region, and on the local tax system.
