Prague City Review

Cities

About This Report

Nov 2017

Despite Prague standing as one of the least service-based capitals in the EU (services made up just 70% of Prague's total GVA in 2016), the city's high-tech manufacturing sector is what makes the Czech capital one of the economically-leading Central Eastern European cities. Driven by electronics companies such as Siemens, ABB and Honeywell, Prague in 2016 generated a total GDP of USD70 billion; 176%, 30% and 18% higher than Bratislava, Bucharest and Budapest, respectively.

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Prague City Review

PRAGUE HIGHLIGHTS

Prague's labour productivity (GVA per employee) stood at USD48,000 in 2016 - 63% higher than in the rest of the country. The difference not only stems from the manufacturing sector's focus on the valuable high-tech industry, but from the productive business service sector centralisation in the capital as well (17% of Prague's labour force worked in the business services sector in 2016 versus 8.4% in the rest of the Czech Republic).

One of the richest households in Eastern Europe

Prague's households are some of the richest in Eastern Europe, boasting an annual income level of USD26,200; 30% and 23%, respectively, higher than those of Budapest's and Warsaw's. The advantage in Prague is driven by one of the lowest unemployment levels in EU - just 2.8% in 2016.

Greater budget allocated to education, and recreation and culture

Consumer expenditure per household (transport and housing excluded) stood 16% higher in Prague, than in the rest of the country in 2016. Education and recreation and culture allocated 69% and 52% more expenditure, respectively, in Prague than in the rest of country, due to a larger selection of universities and a booming tourism industry.

Expensive real estate

Combined expenditure on housing and transport was 26% higher in Prague compared to the rest of the Czech Republic in 2016. The difference stems from Prague's real estate's position as one of the most expensive in Eastern Europe (average purchase price EUR2,400 per square metre in Prague, in 2016).

PRAGUE REVIEW AT A GLANCE

Understanding Prague Review structure
Chart 1 Overview
Key facts on Prague
Summary 1 Key Facts On Prague 2011, 2016, 2021

PRAGUE HIGHLIGHTS

History
Delimitation of the metropolitan region
Chart 2 Map Of Prague Metropolitan Area
Main business districts

ECONOMY OF THE CITY

Industrial make-up
Chart 3 Industrial Composition Of Prague 2016
Chart 4 Labour Productivity: Selected Cities 2016
Recent developments and outlook
Chart 5 Dynamics Of Real GDP In Prague, Czech Republic And Other Cities In Eastern Europe, 2011-2021
Summary 2 Labour Market Changes In Prague 2011, 2016

CONSUMER PROFILE

City demographics
Chart 6 Population By Age 2016
Chart 7 Drivers Of Population Growth In Prague 2011-2016
Household income
Chart 8 Household Distribution By Income In Prague 2016 And 2021

CONSUMER EXPENDITURE

Structure of household budget
Chart 9 Comparison Of Household Expenditure In Prague And Czech Republic, 2016
Summary 3 Prague Household Budget Structure By Consumer Expenditure Item, % of total, 2011, 2016, 2021
City lifestyle
Prague's Airport Preparing For Christmas
Public Refrigerators In Prague To Reduce Food Waste And Help The Poor
City affordability
Housing
Chart 10 Household Expenditure On Housing: Selected Cities 2016
Transport
Chart 11 Household Expenditure On Transport: Selected Cities 2016

DEFINITIONS

APPENDIX

Summary 4 GDP Development, 2011, 2016, 2021
Summary 5 GDP By Origin, Current Prices, US$, Million, 2011-2016
Summary 6 Population And Labour Force, 2011-2016
Summary 7 Employed Population By Economic Sector, % of total, 2011-2016
Summary 8 Population By Sex And Broad Age Groups, ‘000, 2011-2016
Summary 9 Population Growth, 2011-2016
Summary 10 Forecast Population Growth
Summary 11 Population By Educational Attainment, 2011-2016
Summary 12 Structure Of Consumer Expenditure By Main Category, 2011-2016
Summary 13 Consumer Expenditure By Main Category, Per Household, Constant (2016) Prices, US$, 2011, 2016, 2021
Summary 14 Households By Income Band, % Of Total, Constant (2016) Prices 2011, 2016, 2021
Summary 15 Households By Income Band, ‘000, Current Prices 2011-2016
Summary 16 Inflation, 2011-2016
Summary 17 Transport Indicators, 2011-2016
Summary 18 Air Pollution, Concentration In Micrograms Per Cubic Metre, 2011-2016
Summary 19 Possession of Consumer Durables, % of Households, 2011, 2016, 2021