The Czech Republic is an export-oriented economy. Everyone is familiar with some of our famous brands with a long-standing tradition, such as cars from Skoda and beers from the illustrious Pilsner Urquell and Budweiser Budvar breweries. The world is also familiar with shoes made by Baťa and military equipment by Česká Zbrojovka . In the IT world, you may have heard of the cybersecurity company Avast. The Czech Republic is also home to a vibrant start-up scene.
The country has been described in The Guardian newspaper as “one of Europe’s most flourishing economies,” and it continues to rank high in such key metrics as ease of doing business and favorable tax environment.
In addition to having been fully integrated into Europe’s markets, the Czech economy has also been able to maintain one of the highest European GDP growth rates and lowest unemployment levels. The country has been further described by The Guardian as ”one of Europe’s most flourishing economies” with high marks for best regulatory practices, low compliance costs, and favorable tax policies. From developing advanced contact lenses to putting affordable shoes on the world’s feet, the Czech Republic continues to be at the forefront of innovation.