Prague has the lowest level of differences between the rich and poor,
according to a study conducted by the consulting firm A. T. Kearney, which
analysed the quality of life in 130 metropolises across the world. The
Czech capital came in first in the so-called Gini coefficient, a measure of
statistical dispersion intended to represent the income or wealth
distribution among residents.
According to last year’s Eurostat data, the Czech Republic is also the state with the most equal distribution of income in the European Union.
An annual survey of the Czech Republic’s 14 regions has placed the east
Bohemian region of Hradec Králové as the best place to live in, followed
by South Bohemia and the Moravian region of Zlín.
Hradec Králové, which is last year’s winner as well, scored well in all categories, including healthcare, environment and safety. By contrast, the worst place to live in is the region of Ústí nad Labem in north Bohemia.
To get the results, the annual survey ranks numerous criteria across eight categories and polls some 1250 respondents all around the country.
The living standard of Czechs has grown significantly since the country
joined the EU fifteen years ago, the results of a Eurostat survey indicate.
When the Czech Republic entered the EU in 2004, the living standard of Czechs was at 69 percent of the EU average, in 2017 it reached 83 percent, according to Eurostat data.
The data also show that consumer prices in the Czech Republic are closer to the EU average than wages.
Malta, Estonia and Lithuania are reported to have made similar progress.
Nearly a third of Czech households saw their financial wealth grow last year, a study published by GfK reveals. The market researcher’s director, Tomáš Drtina, told journalists at a press conference that this was the largest wealth increase since the study began to be conducted more than twenty years ago. Households expect their income to continue growing in 2019 as well.
The number of Czechs who are happy with the economic situation in the
country and their own living standard has reached 49 percent, according to
the results of a poll carried out by the CVVM agency.
Thirty-six percent of respondents said they were neither satisfied, nor dissatisfied, while 13 percent described their living standard as poor.
The number of people who are happy with their living standard grew from 45 to 49 percent as compared to 2018.
Around 9.6 percent of Czechs were threatened by poverty last year,
according to data released by the Czech Statistics Office on Thursday. The
number has grown by 0.6 percent on the previous year.
The poverty line is set at 11,963 crowns per individual and 25,122 per family with two children. The Czech Republic continues to rank among the EU countries with the lowest share of people under the poverty level.
The average monthly wage in the Czech Republic currently stands at 33,840 crowns.
The Czech capital offers the best quality of life among the cities of the
former Eastern bloc, according to the latest survey by the US consultancy
Globally, Prague ranked 69th, ahead of the capitals of its central European neighbours Budapest (76th), Bratislava (80th) and Warsaw (82nd). Also making the top 100 from the bloc were Ljubljana (74th), Riga (90th) and Zagreb (98th).
European cities continue to have the highest quality of living in the world, according to Mercer, with Vienna (1st), Zurich (2nd) and Munich (3rd) ranking first, second and third globally, though the German city shared the honour with Vancouver and Auckland.
Minsk (188th), Tirana (175th) and St. Petersburg (174th) remained the lowest ranking cities in Europe this year, while Sarajevo (156th) rose three places due to a fall in reported crime.
The growth of the Czech economy provides the opportunity to deepen
structural reforms, the European Commission advised Prague in its annual
analysis of economic and social affairs in the Czech Republic. According to
the commissions study data, the relatively low rate of social inequality
and growing quality of life is masking a growing regional divide in the
Based on its findings, the commission advises focus should be put on investments in education and local innovations, while growth potential in the more backward regions of the country should be boosted by digital and transport infrastructure.
Prague was the seventh richest region in the European Union in 2017 in
terms of per capita GDP, according to the latest data released by Eurostat.
The Czech capital occupied the same position in the rankings a year
GDP per person in Prague two years ago stood at 187 percent of the average for the whole of the EU. UK capital London topped the rankings, achieving 626 percent of the EU average.
Young working Czechs are the least at risk of falling into poverty in the
European Union, according to data from the bloc’s statistical arm,
Eurostat. Youth in Romania are most at risk, it said.
According to Eurostat, the percentage of employed people in the Czech Republic aged 18-24 who are at risk of poverty stood at just 1.5 percent in 2017. By comparison, the EU average was 11 percent.
A young person is at risk of poverty if their net income is less than 60 percent of the national average, according to the methodology of the EU statistical arm.
Apart from the average salary, the average size of families also factors into the calculations. In the Czech Republic, families typically have no more than two children.
Apart from the Czech Republic, only two other EU countries had rates below 5 percent: Slovakia (3.8 percent) and Finland (4.2 percent).
The highest proportion of young people aged 18-24 in work and at risk of poverty in 2017 was in Romania (28.2 percent), followed by Luxembourg (20.0 percent), Denmark (19.1 percent), Spain (19.0 percent) and Estonia (18.4 percent).