Czech Republic┬┤s competitiveness is increasingly less dependent on cheap labour

Published: 31.05.2018 Related countries:  United Kingdom United Kingdom

The investment accounted for a quarter of GDP in the Czech Republic and was the highest in the EU this year when compared to the investment of its peers in relation to GDP with companies investing (spending) in improving production and productivity.

 

Czech companies are experiencing a healthy growth coupled with a significant increase in wages and dividend payments; their owners can afford to make large investments.

 

According to Eurostat data, the Czech Republic became the country with the highest share of GDP investment in the European Union last year, and has been at the forefront of the EU countries in a long-term view projections. The economists say that this is due to the high representation of the industrial sector in the domestic economy.

 

The figures give hope that the Czech Republic is finally getting rid of the spurs of the economy based on the cheap labour.

 

Czechtrade continues to work with many businesses across industries assisting them with their export activities, inviting them to attend UK wide trade fairs and help them gain new unique collaborations in foreign markets.