Like PCU, the Czech Republic is growing ever stronger
by Alex Went, on 23 July 2021 11:00:32 CEST
Thinking of applying to Prague City University? In terms of quality of life, happiness and stability, there's no better time to consider moving to and studying in the Czech Republic.
Historically, the Czechs have always had a strong industrial economy. In the 1930s, Czechoslovakia was among the ten most developed countries in the world with a thriving sector in engineering and manufacturing. This is evident in our Pragovka campus, originally built for Praga Automotive. Even under communist rule, this region remained the most prosperous country in the Eastern Bloc.
But the revolution of 1989 changed all that: compared to their new European neighbours, the Czechs were comparatively poor; and for the last thirty years the country has been gradually playing 'catch-up' with major economies in the West.
Now, a recent report by the International Monetary Fund suggests that a tipping point has been reached. With GDP growth in the Czech Republic predicted to reach 4.3% in 2021 (higher than in 2018 or 2019), the country has overtaken both Italy and Spain in financial forecasts.
A second report, delivered by the Sustainable Development Solutions Network on behalf of the United Nations, shows a related improvement in citizens' happiness. Measured according to factors such as life expectancy, spending power, and basic freedoms, the Czech Republic now appears 16th in the World Happiness Report, ahead of the United States and France.
Change can be seen all around Prague. There is huge investment in redeveloping former industrial sites (such as Pragovka, PCU’s third campus mentioned earlier, and the focus of some exciting plans in the near future). The public transport infrastructure continues to develop, and new cafes and work spaces seem to pop up all the time. Employment prospects are excellent, especially for those with an international education or degree.
But don't take our word for it. Economist Lukáš Kovanda of the Czech National Economic Council remarks that:
"It is no exaggeration to say that for the Czech lands, the past thirty years have been the most successful thirty-year history in economic terms. Today, the Czech economy is much freer, more efficient, more environmentally friendly, incomparably more involved in the global market, and more service-oriented.”
Want to learn more?
Watch our PCU student experience video below which showcases just some of the many features that Prague offers, and visit out our new website: https://www.praguecityuniversity.cz
We have places available to start in September and February, so get in touch!