The Central Bohemia Region has long been one of the most economically developed regions in the Czech Republic. Measured in GDP per capita, the level of economic prosperity reaches 84% of the EU28 average. The region is one of the most economically developed in Central and Eastern Europe. The economic growth is on a higher order than in the other EU countries, and it is higher than Germany’s.
Foreign companies play an important role in the Central Bohemia economy, accounting for almost 75% of the output and 50% of the jobs in the business sector. The largest influx of foreign investment took place around 2000, though their volume remained significant in the regional economy in the following years.
Gradually more sophisticated activities with higher added value such as research and development developed across the economic spectrum. This was aided by the region’s highly qualified and educated workforce and long industrial tradition with unique know-how. The manufacturing industry, however, still plays a crucial role in the regional economy. The companies operating in this field account for almost 40% of the economic output and create more than 30% of jobs.