COUNTRY PROFILE Czech Republic
IMD WORLD COMPETITIVENESS RANKING 18 All data are available from the World Competitiveness Online. Visit our eshop 1
COMPETITIVENESS TRENDS - OVERALL CZECH REPUBLIC OVERALL PERFORMANCE (63 countries) 33 29 27 28 29 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 79 17 Exchange Rate (per $) 23.376 17 Population - market size (millions) 10.59 17 36 Gross Domestic Product (GDP) (US$ billions) 216.5 17 42 GDP (PPP) per capita (US$),476 17 31 Real GDP growth (%) 4.6 17 12 Consumer price inflation (%) 2.43 17 42 Unemployment rate (%) 2.89 17 7 Labor force (millions) 5.38 17 36 Current account balance (% of GDP) 0.88 17 33 Direct investment stocks inward ($bn) 115.2 16 39 Direct investment flows inward (% of GDP) 4.25 17 14 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 32 16 17 14 41 27 34 25 36 45 25 26 26 39 PEER GROUPS RANKINGS EUROPE - MIDDLE EAST - AFRICA (40 countries) POPULATIONS < MILLION (34 countries) 18 17 17 18 21 19 18 18 18 2
COMPETITIVENESS TRENDS - FACTOR BREAKDOWN CZECH REPUBLIC ECONOMIC PERFORMANCE 26 19 16 Sub-Factor Rankings : 17 Domestic Economy 41 International Trade 13 International Investment 36 Employment 25 Prices 15 18 32 16 17 GOVERNMENT EFFICIENCY 38 31 29 29 27 Sub-Factor Rankings : 17 Public Finance 18 Tax Policy 45 Institutional Framework 26 Business Legislation Societal Framework 29 18 14 41 27 34 25 BUSINESS EFFICIENCY 40 31 34 32 Sub-Factor Rankings : 17 Productivity & Efficiency Labor Market 44 Finance 32 Management Practices 34 Attitudes and Values 39 18 36 45 INFRASTRUCTURE 28 28 26 28 Sub-Factor Rankings : 17 Basic Infrastructure 18 Technological Infrastructure 26 Scientific Infrastructure 28 Health and Environment 31 Education 31 18 25 26 26 39 3
IMD WORLD COMPETITIVENESS DIGITAL RANKING 18 All data are available from the World Competitiveness Online. Visit our eshop 4
DIGITAL TRENDS - OVERALL CZECH REPUBLIC OVERALL PERFORMANCE (63 countries) Overall Alpha Alpha Factors Beta BetaLabel Gamma GammaLab Sub-Factors 1 2 2 2 2 2 2 4 4 4 2 2 6.5 4 4 2 2 8.5 4 4 2 2 10.5 4 4 2 2 38 29 55 36 Knowledge Talent Training & education Scientific concentration 33 31 44 19 18 Technology Regulatory framework Capital Technological framework 34 34 25 34 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 31 31 32 32 33 38 36 34 36 38 26 26 26 26 31 33 33 34 37 34 COMPETITIVENESS & DIGITAL RANKINGS Digital Competitiveness N.B. This graph provides only a comparison of the country s performance in the two rankings. 29 27 28 29 31 31 32 32 33 33 PEER GROUPS RANKINGS EUROPE - MIDDLE EAST - AFRICA (40 countries) POPULATIONS < MILLION (34 countries) 21 21 22 21 22 21 21 5
u Overall top strengths w Overall top weaknesses FACTORS BREAKDOWN - STRENGHTS AND WEAKNESSES CZECH REPUBLIC KNOWLEDGE Subfactors Talent 25 22 26 29 Training & education 49 50 50 49 55 Scientific concentration 39 36 33 34 36 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 34 39 43 44 Capital 23 17 15 19 Technological framework 25 24 15 15 18 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 46 48 42 34 Business agility 34 29 33 25 IT integration 31 31 36 33 34 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
IMD WORLD TALENT RANKING 18 All data are available from the World Competitiveness Online. Visit our eshop 7
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: 1 2 2 2 2 2 2 improved or stable declined 4 4 4 2 2 38 31 37 Investment & Development Appeal Overall Investment & Development Appeal Readiness 37 33 33 34 36 39 36 36 37 38 38 39 40 36 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 18.97 ratio 51 Pupil-teacher ratio (secondary education) Ratio of students to teaching staff 11.46 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 44.48 % 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) 65.80 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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