COUNTRY PROFILE. Czech Republic
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1 COUNTRY PROFILE Czech Republic
2 IMD WORLD COMPETITIVENESS RANKING 18 All data are available from the World Competitiveness Online. Visit our eshop 1
3 COMPETITIVENESS TRENDS - OVERALL CZECH REPUBLIC OVERALL PERFORMANCE (63 countries) CHALLENGES IN 18 Form Form a stable a stable government: government: provide provide sufficient sufficient policy policy stability stability and and predictability; avoid short-run populistic fiscal measures at the expense of long-run issues (education, innovations and R&D). Improve quality of transport infrastructure (incl. overdue repairs) without creating additional unexpected challenges. Find adequate adaptation to cost pressures caused by overheating labour market and fast-growing housing prices. Improve the anti-corruption and public procurement framework without hurting the competitiveness of especially SMEs. Find a reasonable and constructive compromise (both country and EU) on the migration crisis and the allocation of EU funds. Provided CERGE-EI, by: Prague CERGE-EI, Prague BASIC FACTS Rank Capital Land area (square km '000) Prague Exchange Rate (per $) Population - market size (millions) Gross Domestic Product (GDP) (US$ billions) GDP (PPP) per capita (US$), Real GDP growth (%) Consumer price inflation (%) Unemployment rate (%) Labor force (millions) Current account balance (% of GDP) Direct investment stocks inward ($bn) Direct investment flows inward (% of GDP) COMPETITIVENESS LANDSCAPE Economic Performance Government Efficiency Business Efficiency Infrastructure Domestic Economy International Trade International Investment Employment Prices Public Finance Tax Policy Institutional Framework Business Legislation Societal Framework Productivity & Efficiency Labor Market Finance Management Practices Attitudes and Values Basic Infrastructure Technological Infrastructure Scientific Infrastructure Health and Environment Education PEER GROUPS RANKINGS EUROPE - MIDDLE EAST - AFRICA (40 countries) POPULATIONS < MILLION (34 countries)
4 COMPETITIVENESS TRENDS - FACTOR BREAKDOWN CZECH REPUBLIC ECONOMIC PERFORMANCE Sub-Factor Rankings : 17 Domestic Economy 41 International Trade 13 International Investment 36 Employment 25 Prices GOVERNMENT EFFICIENCY Sub-Factor Rankings : 17 Public Finance 18 Tax Policy 45 Institutional Framework 26 Business Legislation Societal Framework BUSINESS EFFICIENCY Sub-Factor Rankings : 17 Productivity & Efficiency Labor Market 44 Finance 32 Management Practices 34 Attitudes and Values INFRASTRUCTURE Sub-Factor Rankings : 17 Basic Infrastructure 18 Technological Infrastructure 26 Scientific Infrastructure 28 Health and Environment 31 Education
5 IMD WORLD COMPETITIVENESS DIGITAL RANKING 18 All data are available from the World Competitiveness Online. Visit our eshop 4
6 DIGITAL TRENDS - OVERALL CZECH REPUBLIC OVERALL PERFORMANCE (63 countries) Overall Alpha Alpha Factors Beta BetaLabel Gamma GammaLab Sub-Factors Knowledge Talent Training & education Scientific concentration Technology Regulatory framework Capital Technological framework The direction of the triangle indicates the performance change from the last year: improved or stable declined Future readiness Adaptive attitudes Business agility IT integration OVERALL & FACTORS - 5 years OVERALL Knowledge Technology Future readiness COMPETITIVENESS & DIGITAL RANKINGS Digital Competitiveness N.B. This graph provides only a comparison of the country s performance in the two rankings PEER GROUPS RANKINGS EUROPE - MIDDLE EAST - AFRICA (40 countries) POPULATIONS < MILLION (34 countries)
7 u Overall top strengths w Overall top weaknesses FACTORS BREAKDOWN - STRENGHTS AND WEAKNESSES CZECH REPUBLIC KNOWLEDGE Subfactors Talent Training & education Scientific concentration Talent Rank Rank Rank Training & education Scientific concentration Educational assessment PISA - Math 26 Employee training 24 Total expenditure on R&D (%) 22 International experience 31 w Total public expenditure on education 50 Total R&D personnel per capita 23 Foreign highly-skilled personnel 41 Higher education achievement 42 Female researchers 45 Management of cities 36 w Pupil-teacher ratio (tertiary education) 54 R&D productivity by publication 33 Digital/Technological skills 36 Graduates in Sciences 33 Scientific and technical employment 24 u Net flow of international students 13 Women with degrees 42 High-tech patent grants 31 TECHNOLOGY Subfactors Regulatory framework Capital Technological framework Regulatory framework Rank Capital Rank Technological framework Rank Starting a business 40 u IT & media stock market capitalization 12 Communications technology 43 Enforcing contracts 47 Funding for technological development 25 u Mobile Broadband subscribers 11 w Immigration laws 57 u Banking and financial services 17 Wireless broadband 24 Development and app. of technology 38 Investment risk 21 Internet users 28 Scientific research legislation 39 Venture capital 26 u Internet bandwidth speed 13 Intellectual property rights 27 Investment in Telecommunications 36 High-tech exports (%) 25 FUTURE READINESS Subfactors Adaptive attitudes Business agility IT integration Adaptive attitudes Rank Business agility Rank IT integration Rank w E-Participation 52 Opportunities and threats 34 E-Government 41 Internet retailing 18 Innovative firms 18 Public-private partnerships 48 Tablet possession 31 Agility of companies 18 Cyber security 29 Smartphone possession 29 w Use of big data and analytics 51 Sofware piracy Attitudes toward globalization 50 Knowledge transfer 36 6
8 IMD WORLD TALENT RANKING 18 All data are available from the World Competitiveness Online. Visit our eshop 7
9 IMD World Talent Ranking 18 CZECH REPUBLIC OVERALL PERFORMANCE (63 countries) The direction of the triangle Alpha indicates AlphaLabel the Beta BetaLabel Gamma GammaLabel performance change from the last year: improved or stable declined Investment & Development Appeal Overall Investment & Development Appeal Readiness Readiness 45 Investment & Development w Total public expenditure on education Percentage of GDP 3.6 % 50 u Gov. expenditure on education per student Percentage of GDP per capita (secondary education) 23.4 % 17 w Pupil-teacher ratio (primary education) Ratio of students to teaching staff ratio 51 Pupil-teacher ratio (secondary education) Ratio of students to teaching staff ratio 22 Apprenticeships are sufficiently implemented 4.50 Survey [0..10] 36 Employee training is a high priority in companies 6.00 Survey [0..10] 24 Female labor force Percentage of total labor force % 40 u Health infrastructure meets the needs of society 7.27 Survey [0..10] Value 18 Rank Appeal u Cost-of-living index Index of a basket of goods & services in the main city, including housing (New York City = 100) index u Attracting and retaining talents is a priority in companies 7.38 Survey [0..10] 16 Worker motivation in companies is high 5.96 Survey [0..10] 32 Brain drain (well-educated and skilled people) does not hinder competitiveness in your economy 4.96 Survey [0..10] 33 Quality of life is high 7.76 Survey [0..10] 27 Foreign highly-skilled personnel are attracted to your country's business environment 4.50 Survey [0..10] 41 Remuneration in services professions Gross annual income including supplements such as bonuses, US$ 12,607 US$ 48 Remuneration of management Total base salary plus bonuses and long-term incentives, US$ 104,114 US$ 46 Effective personal income tax rate Percentage of an income equal to GDP per capita.99 % 42 Personal security and private property rights are adequately protected 7.65 Survey [0..10] 27 Value 18 Rank Readiness Labor force growth Percentage change 0.51 % 41 w Skilled labor is readily available 3.14 Survey [0..10] 60 w Finance skills are readily available 5.18 Survey [0..10] 51 International experience of senior managers is generally significant 5.38 Survey [0..10] 31 w Competent senior managers are readily available 4.96 Survey [0..10] 49 Educational system The educational system meets the needs of a competitive economy 5.77 Survey [0..10] 33 Science in schools is sufficiently emphasized 5.62 Survey [0..10] 32 University education meets the needs of a competitive economy 6.08 Survey [0..10] 29 Management education meets the needs of the business community 5.96 Survey [0..10] 34 Language skills are meeting the needs of enterprises 5.77 Survey [0..10] 37 u Student mobility inbound Foreign tertiary-level students per 1000 inhabitants 3.96 number Educational assessment - PISA PISA survey of 15-year olds 493 Average 26 Value 18 Rank 8
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