Economic conditions in the Central Bohemia Region
The Central Bohemian Region has long been one of the most economically developed regions in the Czech Republic. Measured in GDP per capita, the level of economic prosperity reaches 83% of the EU27 average. The region is one of the most economically developed in Central and Eastern Europe. The economic growth is on a higher order than in the other EU countries, and it is higher than Germany’s.
The unemployment rate in the Central Bohemian Region has been 1–2% lower than the Czech average over the long term, and significantly below the unemployment rate of the EU-27 countries. This indicates the presence of a strong regional economy and a functioning labour market. Even now, the unemployment rate in the Central Bohemia Region is one of the lowest in the EU at 2.5%.
Gradually more sophisticated activities with higher added value such as research and development have developed across the economic spectrum. This was aided by the region’s highly qualified and educated workforce and long industrial tradition with unique know-how. The manufacturing industry, however, still plays a crucial role in the regional economy. The companies operating in this field account for almost 40% of the economic output and create more than 30% of jobs.
Find more information about R&D&I and economic conditions of the region on the Atlas of Innovation Environment in the Central Bohemia Region.
