Benchmarking of the Czech Republic in the V4 context

About

The Visegrad Group (also known as the “Visegrad Four” or simply “V4”) was formed in 1991 with the aim of reflecting the efforts of the countries of the Central European region to work together in a number of fields of common interest within the all-European integration. Czechia, Hungary, Poland and Slovakia have always been part of a single civilization sharing cultural and intellectual values and common roots in diverse religious traditions, which they wish to preserve and further strenghten. (Source: MVCR, 2020)

What’s trending in the Czech Republic
  • Nearly two-thirds of companies employ or plan to employ foreign workers. (Hofmann Personal Survey, 2021)
  • Remote working and the rise of hybrid teams has become a new reality, although adapting to this new style of work has been a real challenge for many companies and individuals. (Hays Czech Republic Salary Guide, 2021)
  • The need for digital skills is growing significantly, which affects the requirements of employers in the labour market. (Hays Czech Republic Salary Guide, 2021)
  • ESG has become a hot topic among international buyers, especially in the office sector. (CBRE Czech Republic Real Estate Market Outlook, 2022)
  • ESG is maturing faster than predicted. In 2019, not one respondent envisaged a future where 75% or more of an investor’s portfolio would integrate ESG by 2021. Today 22% of investors surveyed integrate ESG into at least 75% of their portfolios, and this is set to grow in the next two years. (BNP Paribas, ESG Global Survey, 2021)
  • The appetite for assets remains strong, with a lack of products seen in all segments. The investment volume in the Czech Republic is not driven by demand, but rather by supply. (CBRE Czech Republic Real Estate Market Outlook, 2022)
  • The key sectors in 2021 were offices (36%) and industrial premises (35%). The volume of investments increased by 133% year on year due to strong interest in industrial properties; conversely, the retail sector declined by 33% compared to 2020. (Market in Minutes, Savills Research 2021)

 

CZ.jpg

 

Hungary.jpg

Poland.jpg

Slovakia.jpg

 

overall rank.jpg

Source: IMD, 2021

FDI graf.jpg

Source: OECD, 2021

Global Innovation Index 
Rank
2021
Country Score
24 Czech Republic 49.00
34 Hungary 42.70
37 Polan 40.20
40 Slovakia 39.90
Source: WIPO, 2021
Global Talent Competitivness Index
Rank
2021
Country Score
24 Czech Republic 65.03
38 Slovakia 56.70
40 Poland 55.69
42 Hungary 53.57
Source: INSEAD, 2021
Quality of Life Index
Rank
2021
Country Score
19 Czech Republic 162.64
31 Slovakia 151.16
38 Poland 140.02
39 Hungary 137.15
Source: Numbeo, 2022