The report, which ranks cities and regions across Europe based on their potential for investment, growth, and business development, placed Prague in the top 10 of its overall ranking for mid-sized cities in Europe. Prague has been ranked third in the overall category of economic potential, which measures the city's attractiveness for foreign investment, economic growth, and business expansion. This ranking is based on factors such as the size of the city's economy, its growth potential, and its business environment. The Czech capital was recognized as the best city for business friendliness in its category, highlighting the ease of doing business in Prague.
One of the key factors that contributed to Prague's success in the report was its highly skilled workforce. The city has a large pool of talented professionals with expertise in a range of industries, including technology, finance, and engineering. Prague is also home to several prestigious universities, which provide businesses with access to the latest research and cutting-edge technologies.
Another strength of Prague is its central location within Europe. The city is well-connected to other major European cities by road, rail, and air, making it an attractive location for businesses that need to be able to reach other markets quickly and easily. Prague has also been investing in its transportation infrastructure, with major upgrades to its airport, public transportation systems, and highways. These improvements make it easier for businesses to move goods and people in and out of the city, and they help to reduce congestion and improve air quality.
In addition to its strategic location and highly skilled workforce, Prague has also been investing heavily in infrastructure and innovation. The city is home to several technology parks and innovation hubs, which provide a supportive environment for startups and established businesses alike. These hubs are designed to foster collaboration and knowledge sharing, and they provide access to a range of resources and support services. Prague also has a large number of research and development centers, which attract foreign investors looking to tap into the Czech Republic's highly skilled talent pool.
Overall, the latest European Cities and Regions of the Future 2023 report by fDi intelligence highlights the many strengths of Prague and the Prague region as a location for business and investment. With its highly skilled workforce, central location, supportive business environment, and strong infrastructure, Prague is well-positioned to continue its growth and attract new businesses and investors in the future.