Prague Invests Record Amount in Transportation Infrastructure and Quality of Life

Published: 26.06.2023 Related countries:  Czech Republic Czech Republic

By investing in infrastructure, Prague aims to attract new businesses, create job opportunities, and promote economic growth.

The city of Prague has increased its investment in transportation infrastructure and improving the quality of life for its citizens by 6.4 billion Czech korun (approximately USD 295 million) last year, bringing the total investment to 16.5 billion Czech korun (USD 761 million). The majority of the investment budget was allocated to infrastructure and transportation projects. The city’s tram service was expanded, bus lines were modernized, and work on the construction of the D metro line began. Additionally, the city repaired the lower portion of Wenceslas Square, improved public transportation shelters, and completed the reconstruction of the Barrandov Bridge and the construction of the Stvanice footbridge.

The increase in investment spending is a remarkable achievement for the city, especially given the global crises of recent years. Prague was able to invest in important projects that contributed to the development of the city and the improvement of the lives of its citizens. However, the city’s planned investments exceed its annual investment spending budget, so there will be difficult negotiations over investment priorities in the future.

The city’s commitment to investment in public transportation infrastructure is commendable. Improving public transportation infrastructure can reduce the number of cars on the road, which can alleviate traffic congestion and improve air quality. These investments should quickly pay for themselves and help save money in the long term.

Investing in transportation infrastructure is not only essential for the improvement of the quality of life of citizens, but it also boosts the economy. By investing in infrastructure, cities can attract new businesses, create job opportunities, and promote economic growth. Additionally, improving public transportation can increase mobility, which can lead to increased social inclusion and access to opportunities for all members of society.

Prague’s investment in transportation infrastructure has set an excellent example for other cities to follow. Investing in transportation infrastructure can improve the quality of life for citizens, boost the economy, and promote social inclusion. Other cities should follow Prague’s example and prioritize investment in transportation infrastructure to achieve similar benefits.

Delivered by CzechTrade team Canada.
Source: Prague Forum.