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Tourism

Popular destination

Since the end of the Soviet era in Eastern Europe the Czech Republic, and in particular its capital city Prague, has become one of the major tourist destinations in Europe. The city started out as a cheap stag weekend location, but visitors soon realised its universal appeal. Tourists now come to the Czech Republic not only for its capital, but for the country’s historic and cultural appeal, and for spa, ski and activity holidays.

Nightlife tourism

Prague attracts large amounts of foreign tourists due to the exceptionally low cost of its nightlife, particularly its beer. The availability of Absinthe (the alcholic drink said to be mildly hallucinogenic that is still banned in many countries), the leniency of law enforcement on drug use and prostitution, and the large number of bars and clubs, located close together and often open late, serve as additional incentives for tourists from Western Europe. It is not only the nightlife of Prague that attracts tourists: the Stodolni street in Ostrava, the third largest city in the Czech Republic, has more than 60 pubs, clubs and bars, all in one strip.

A vital industry

The travel and tourism industry plays a vital role in the economy of the Czech Republic. Foreign exchange income reached CZK 113.1 billion in 2006 and had a GDP share of 3.5%. According to the World Travel and Tourism Council (WTTC), there are 105,000 people employed in the foreign exchange sector of the tourism industry alone, which is 2.2% of the overall employment of the Republic. Employment in industries related to travel and tourism accounts for approximately 569,000 jobs, which is 11.7% of overall employment. This effectively means every eighth person is employed in the travel industry or a related field.

Predicted growth

Travel and tourism in the Czech Republic in 2007 is expected to generate $29.6 billion of economic activity, according to forecasts from the WTTC. The WTTC also predicts that the Czech Republic’s travel and tourism economy (direct and indirect impact) in 2007 is expected to account for 12.7% of GDP and is expected to grow by 4.3% in 2007 and by 5.6% per annum, in real terms, between 2008 and 2017.

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Documents and Reports

	Czech Republic property investment report (360Kb)
Documents and Reports

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