In the Czech Republic, only 1% of the Czech population, roughly 100,000 people, have financial assets exceeding CZK 5m. They account for 58% of these assets. According to a study by the Boston Consulting Group (BCG), a strong upper middle class has not yet emerged in the country. Whereas 20 years ago the Czech Republic accounted for 17% of all financial assets in the CCE region and 14% of real assets, by the end of 2022 it will account for only 9% and 6% respectively.

The Czech Republic still has the potential to return to its growth trajectory. However, it needs vision, modern legislation and the removal of regulation. FinTechs, among others, have great potential; there are hundreds of them in the country. 

Created by the team of CzechTrade Shanghai
Source: CIANEWS