International Property News

Prague 12th richest region in EU

12th February 2008

Prague is the twelfth richest region in the European Union, data from the EU statistical office Eurostat showed.

Per capita gross domestic product (GDP) in the Czech capital is 60 percentage points higher than the European average (EU=100), which makes Prague the richest region in the twelve member states that joined the EU in 2004 and 2007.

However, other Czech regions are below 75 percent of the EU average and are therefore regarded as developing, which entitles them to subsidies from European funds.

Within the Czech Republic, the second richest region behind Prague is central Bohemia, which hovers around 70 percent of the EU average, while central Moravia is at the bottom of the ladder with 59.8 percent of the EU average.

Among regions exceeding 125 percent of the EU average, which indicates richness to a certain extent, Prague and the Slovak capital of Bratislava are the only representatives from the new EU member states.

The poorest EU region is Romania's Nord-Est, which is below 25 percent of the EU average.