Eurostat, the statistical office of the European Union, recently published GDP figures for the member states and NUTS regions for the year 2022.
Particularly important for the Czech state is what emerges from the analysis of GDP per capita (taking purchasing power into account). Ranking according to these criteria, the Prague region ranks fourth, surpassed only by Luxembourg and two Irish regions.
Comparison with main European regions
In recent years, the economy of the European Union has shown complex dynamics, with significant differences between the various regions. In this context, Prague has stood out as one of the most dynamic and growing areas, allowing it to achieve such a coveted position.
The excellent result achieved increases its value even more when one considers the comparison with other European regions known for their economic prosperity, often linked to the capitals of the main EU countries. According to Petr Dufek, chief economist at Creditas Bank and one of the first to announce and comment on the achievement, Berlin is 60% of Prague in terms of GDP per capita in purchasing power parity.
Here in detail the data on the areas of the main European capitals and those of the countries bordering the Czech Republic.
| Region | Percentage ratio with the European average |
| Prague | 207 |
| Berlin | 122 |
| Ile-de-France (Paris) | 163 |
| North Holland (Amsterdam) | 168 |
| Brussels | 196 |
| Wien | 142 |
| Bratislava | 146 |
| Warsaw | 162 |
| Budapest | 158 |
Of particular note is the economic comparison with the Slovakian capital Bratislava. This shows a picture of significant divergence between the two regions in recent years. In 2013, Bratislava had a wide economic advantage over Prague, but recent statistics indicate a reversal of this trend. Bratislava now achieves only 71% of Prague’s economic level, with a modest 2% increase in GDP per capita over the last decade, compared to a 48% growth recorded by the Czech region over the same period. These figures highlight a broader trend of economic estrangement between the Czech Republic and Slovakia, with the latter dropping from 92% to 80% of the Czech economic level from 2012 to 2022. Prague’s success is attributed to an economic strategy focused on innovation, infrastructure development and attracting business and talent, signalling the importance of economic policies and effective resource management in stimulating economic growth.
Analysis and comparison with Czech regions
While the Czech people can only be cheered by the situation concerning their first city in terms of importance, the internal comparison of the data opens up prospects that are not entirely positive. Prague emerges as the centre of considerable prosperity, but enthusiasm is dampened by significant regional inequality.
Prague’s GDP per capita is more than twice the national average, placing it well above the other regions, while the Czech Republic’s aggregate figure remains below the EU average of 10%. Although the Berlin region is only slightly more than half the level of Prague, in a comparison of nations, Germany remains ahead of the Czech Republic by more than 30%.
| Region | Percentage ratio with the European average |
| Prague | 207 |
| Střední Čechy (Central Bohemia) | 79 |
| Jihozápad (South-East) | 73 |
| Severozápad (North-West) | 60 |
| Severovýchod (North-East) | 72 |
| Jihovýchod (South-East) | 83 |
| Střední Morava (Central Moravia) | 73 |
| Moravskoslezsko (Moravia-Silesia) | 71 |
A more detailed analysis of the Czech regions reveals further nuances. Regions such as Severozápad and Moravskoslezsko record percentages not far from the lowest-performing European areas, at 60% and 71% respectively. Central Moravia and Central Bohemia reach 83% and 79% of the European average, higher percentages but still far from being able to keep up with the capital region.
Conclusions
Petr Dufek’s statements go on to point out that although GDP per capita is an interesting indicator of the economic level, it does not fully reflect the standard of living in a region. It is crucial to consider whether the increase is due to an actual improvement in living standards or simply the profitability of businesses. However, GDP per capita shows significant regional differences and provides crucial indications to guide a country’s economic policies.
In conclusion, the situation in Prague, which emerges as a successful example, strengthens the argument for a more inclusive and distributed approach to economic growth. In this context, the Union’s objective remains to ensure that the benefits of economic progress are accessible to all Europeans, thus demonstrating the importance of policies that balance economic development, social justice and care for the environment within the economic framework of the Czech Republic and beyond.
Sources: https://www.camic.cz/it/news/, https://www.novinky.cz/clanek/, https://ec.europa.eu/eurostat/web/products-eurostat-news/w/ddn-20240220-2?language=it&etrans=it
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Graphic source: www.storyset.com
