Prague is the capital and largest city of the Czech Republic. Prague's economy is based on various industrial sectors. Prague's industrial sector is split into aircraft engines, diesel engines, refined oil products, electronics, chemicals, food, printing, automobiles etc. Also a significant proportion of research and development is based in Prague. Approximately one-fifth of all investment in the Czech Republic takes place in Prague city. The Czech Republic is in Central Europe, between Germany, Poland, Slovakia, and Austria. The climate is temperate with cool summers and cold, cloudy, humid winters. The official language is Czech. It belongs to the Western Slavonic group of languages. Learning a few basic words will be appreciated. Many young people speak English, while German is also widely spoken. Most people can speak Russian, but will refuse to do so. The main religion is Christianity. The economy of the Czech Republic is developed and industrialized. It is one of the most stable and prosperous of the post-Communist states of Central and Eastern Europe. In the Czech Republic, business is conducted relatively formally, albeit at a general slower pace compared to the west. It is advisable to address associates formally unless someone has invited you to use their first name. Expatriate business dress tends to be conservative. Most international business is conducted in English, however German can be useful. The security risk for expatriates in Czech Republic is low. Risks include petty crime such as pickpocketing and car theft, particularly in Prague. Other risks include harassment by conservative groups, particularly of people belonging to visible ethnic and religious minority groups. The currency of the Czech Republic is the Czech Koruna (CZK). ATMs, and the use of debit and credit cards is generally acceptable. The standard of healthcare in Czech Republic is reasonable, however costs of treatment for expatriates from outside the EU can be high. The population of Prague is 2.6 Million (Metro) (2019 est.), while the inflation rate (CPI) is 2.7% for the Czech Republic as at September 2019. Xpatulator Hypothetical Tax for Czech Republic is based on the current personal income tax rate which is a flat rate of 15%.
Cost Of Living
The cost of living for expatriates / professional migrants in We have collected prices for the same items, world wide, and converted them to $USD so that we can compare the cost of 13 different baskets in 780 global locations. For each basket, compared to New York, the equivalent cost in Prague is as follows: Prague as at 1 October 2019 is average in comparison to other places in the world. 1) Alcohol (where available) & Tobacco: for items such as beer, spirits, wine and tobacco related products such as cigarettes. A basket costing USD$1000 in New York costs USD$590 2) Clothing: for items such as business, casual and children's clothing and footwear. A basket costing USD$1000 in New York costs USD$970 3) Communication: for various communication costs such as home telephone rental, internet subscription, mobile service provider tariff and data costs. A basket costing USD$200 in New York costs USD$160 4) Education: for items such as creche / pre-school fees, primary school fees, high school fees and tertiary study fees. A basket costing USD$30000 in New York costs USD$23100 5) Furniture & Appliances: for items such as dining table and chairs, home entertainment, kitchen appliances, and sofas. A basket costing USD$2500 in New York costs USD$2350 6) Groceries: for items such as consumables, cleaning products, dairy, fresh fruit & vegetables, general food products, snacks, soft drinks. A basket costing USD$1000 in New York costs USD$550 7) Healthcare: for general heath care, doctor visits, hospital stays, non-prescription medicine, and medical insurance. A basket costing USD$1000 in New York costs USD$590 8) Household Accommodation: for items such as apartment rent, house rent, property purchase, mortgage rate, and utilities. A basket costing USD$5000 in New York costs USD$2800 9) Miscellaneous: for items such as dry cleaning, linen, magazines, newspapers, office supplies, and postage stamps. A basket costing USD$500 in New York costs USD$530 10) Personal Care: for items such as cosmetics, hair care, and toiletries. A basket costing USD$500 in New York costs USD$270 11) Recreation & Culture: for items such as books, cinema, sport and theatre tickets. A basket costing USD$500 in New York costs USD$385 12) Restaurants Meals Out and Hotels: for items such as hotel daily room rates, meals and beverages in a restaurant, and take away food and beverages. A basket costing USD$1000 in New York costs USD$670 13) Transport: for items such as fuel (petrol/gasoline), car hire, public transport, vehicle purchase and maintenance. A basket costing USD$1000 in New York costs USD$690 Prague is -14.8% cheaper than Houston TX for groceries, 31.1% more expensive for household costs than Kuala Lumpur, and 17.4% more expensive for transport costs than Dubai. The hardship premium for Prague for an expat from Perth, is for example 10%, i.e. host location (Prague) premium of 20% minus home (Perth) location premium of 10%. Prague is ranked as a some hardship location. Want to know more about cost of living, hardship (quality of living) or expat salary in Prague? Register subscribe to your home location and Prague and run your personalised reports.