Prospering Czechia Still Needs a Bigger Workforce

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Czechia has the lowest unemployment in the European Union, at 2.9 per cent, says the recent Eurostat report. The country is followed by Germany (3.8 per cent) and Malta (4.1 per cent). Even though there are countries with lower labour costs, Czechia’s costs are still significantly lower than in Western Europe; the average hourly wage cost in the country is only €10.20 compared to €24.40. So, what else makes Czechia an attractive business destination? Continue reading Prospering Czechia Still Needs a Bigger Workforce

EU-CEE Is Still Growing at a Healthy Rate

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A host of flash estimate GDP data released by Eurostat and national statistics offices on August 16th showed that the economies of EU-CEE had another highly impressive quarter of growth in April-June. In seasonally-adjusted terms, growth strengthened in relation to Q1 from already elevated levels in the Czech Republic, Latvia, Poland and Bulgaria. In Romania and Slovakia momentum was unchanged relative to the previous three months, while in Lithuania and Hungary it slowed slightly. Data for the other EU-CEE economies—Slovenia, Estonia and Croatia—are not yet available. Continue reading EU-CEE Is Still Growing at a Healthy Rate

Cautious Upturn in Emerging Europe Haunted by the Spectre of Uncertainty

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For the economies of emerging Europe, the international economic environment appears generally positive. In 2017-2018, GDP growth in the Euro area is expected to hover at around 1.7 per cent. The international financial markets have stabilised and the current economic mood is improving. Because of the global recovery, the US Fed is expected to increase interest rates further in 2017, while oil prices are likely to rise. In the EU, disbursements from the payments’ cycle of the European Structural and Investment Funds are only just beginning, indicating higher co-financed investments in the Central and Eastern European EU member states (EU-CEE) from this year onwards.

Continue reading Cautious Upturn in Emerging Europe Haunted by the Spectre of Uncertainty

Ostrava Is Aiming at Innovative Sectors

Tomas Macura, mayor of Ostrava, told Emerging Europe that his city needs to continue its transformation from traditional industries to innovative sectors and is changing its approach in order to attract more investment, for example, in business services.