Business Chief Europe Magazine January 2020 | Page 68

CITY FOCUS | PRAGUE
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T he capital city of the Czech Republic , Prague , is the largest city in Czechia . A vibrant city of almost 1.3 million inhabitants , it is also the oldest city in the country . With a surface area of 298 kilometres , it has a population density of 4,600 people per square kilometre , as reported by the European Commission . Prague has a strong cultural heritage . It is home to Prague Castle , the largest ancient castle in the world according to the Guinness Book of World Records . It is also one of 39 UNESCO Creative Cities of Literature , a title held since 2014 .

Prague ’ s economy has been strong since the Czech Republic joined the European Union ( EU ) in 2004 . The most expensive street in Central Europe is in Prague , and the city makes up 25 % of the entire country ’ s Gross Domestic Product ( GDP ), according to World Population Review . The Eurostat Regional Yearbook 2018 and 2019 designated Prague as one of the most economically developed regions in the EU , with great potential for continued growth . In 2017 , Prague had a GDP of € 48.8mn . Recently , data from Eurostat placed Prague as the seventh richest region in the EU , with the city ’ s GDP per capita at 187 % the EU average . This prosperity extends to the
JANUARY 2020