Czechia Set to Surpass Spain and Italy in Living Standards

Published: 17.05.2024 Related countries:  Morocco Morocco

Bloomberg predicts that Czechia's rapidly rising GDP per capita at purchasing power parity (PPP) will elevate its living standards above those of Mediterranean countries by the end of the decade.

Bloomberg predicts that Czechia's rapidly rising GDP per capita at purchasing power parity (PPP) will elevate its living standards above those of Mediterranean countries by the end of the decade.

Advancing Beyond Mediterranean Nations

Czechia already outperforms Portugal and Greece in GDP per capita and is expected to surpass Spain and approach Italy's living standards by 2029, alongside neighboring Poland, Slovenia, and Lithuania.

Economic Growth and Labor Market Dynamics

While access to the EU common market and increased foreign investment have driven economic convergence, concerns linger about labor market mobility amidst economic instability in Italy and Spain.

Prague: A Beacon of Economic Prosperity

Prague, the capital of Czechia, stands out as the fourth-richest region in the EU based on GDP per capita levels at PPP, boasting significantly stronger economic performance compared to neighboring capitals like Warsaw and Paris.

 

The article was prepared by the CzechTrade Morocco team.

Source: www.expats.cz

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