Prague

Prague has a modern and efficient infrastructure that places it among key European cities. The transport system consists of the metro, trams, buses, and suburban trains that connect the city with its surroundings. The metro forms the transport backbone. The road network is well established, including the Prague ring road and motorways connecting the city with other regions and countries. Prague is also an important rail hub and Václav Havel Airport connects the city with most European and some non-European destinations.

Kamila Breen

Head of Research Czech Republic, Cushman & Wakefield

Expert commentary

Prague, the capital of the Czech Republic, has become an increasingly attractive office destination in the CEE region. Its well-established infrastructure, including a highly efficient public transportation network, supports the city’s role as a political and economic hub.

Nearly two-thirds of the population rely on Prague’s integrated transport system, featuring three metro lines, extensive tram and bus routes, and expanding bike lanes. Plans for Line D, a fourth metro line, aim at enhancing accessibility in the southern districts, which will further boost connectivity.

Prague’s development initiatives are positioning the city as a strategic location for international businesses seeking a blend of modern amenities and rich cultural heritage.

The city’s main railway station, Praha hlavní nádraží, serves as a gateway to both domestic and European destinations, accommodating over 27 million passengers annually. Václav Havel Airport, handling 15 million passengers in 2023, emphasises Prague’s global acessibility. Significant projects, such as the transformation of Smíchovské nádraží into a dynamic urban centre, reflect Prague’s commitment to creating a thriving business environment.

Radka Novák

International Partner and Head of Office Agency Czech Republic, Cushman & Wakefield

Expert commentary

Prague’s office market, the largest in the Czech Republic with nearly 4 million square meters, continues to lead as the primary business hub for both international and domestic companies. In 2024, the market reflects stability and strong demand for quality spaces. The city’s vacancy rate is low at 8.1% and causes that more businesses renew leases and upgrade their existing spaces rather than relocating.

Prague’s robust infrastructure, high quality of living and stable political environment make it an attractive location for companies looking to expand in Central Europe.

Future supply will be limited, with only 73,000 sq. m expected in 2024 and larger completions anticipated after 2026. This may lead to lower availability and potential rent increases in prime areas. Flexible office spaces, now accounting for 3% of the total stock, are likely to expand further, offering adaptable solutions for businesses adjusting to hybrid working models. With these factors in place, Prague is well-positioned to maintain its role as a key business centre in Central Europe.

Entrepreneurs in Prague can rely on support from public administration. Municipal and district offices provide advice on local regulations, development and infrastructure, and make it easier to navigate through administrative processes. Public administration provides access to services and offers information on legal conditions, creating a favourable environment for entrepreneurs and investors. A decentralised system allows efficient management and reacting quickly to specific needs of businesses, while maintaining consistency with the city’s economic policy.

Prague is a renowned centre of education, with more than 120,000 people studying there every year. Historically known for its prestigious educational institutions such as the Charles University, the Czech Technical University, and the University of Economics, Prague provides an excellent educational foundation.

Between 2013 and 2021, the number of university students per 1,000 inhabitants in Prague ranked among the top European capitals, underlining its importance as an educational hub. In addition to traditional universities, the city is also characterised by a growing number of specialised research institutes and technology start-ups, which attract top professionals and young talents from all over the world.

Monika Kolmanová

IT Recruitment Lead, IT Services Antal 

Expert commentary

Today, Prague profiles itself as an attractive city not only in terms of education, but also development of technology and innovative ideas. Thanks to its rich cultural and educational background and a strong position in Central Europe, Prague is a magnet for young talents, professionals and start-up founders from all over the world. Here, excellent academic excellence is intertwined with concrete business and technology opportunities, creating a unique environment for innovation and growth.

Important institutions such as the Institute of Organic Chemistry and Biochemistry of the CAS or the newly established Prague AI Hub play a key role in research and applied sciences. Many global technology companies such as Microsoft, Oracle and SAP have chosen Prague as a location for their innovation and development centres. Not only do these companies bring job opportunities for graduates and professionals in the fields of artificial intelligence, cybersecurity, development or data analytics, but also ensure that Prague keeps up with global trends and technological advances.

Prague’s unique advantage is the proximity between universities and key business zones, which enables rapid knowledge transfer between the academic and commercial sectors. This dynamic flow of information supports the emergence of postgraduate programmes that respond to market needs. The number of international students at Czech universities in 2022 reached a record number of 55,000 people from more than 160 countries, demonstrating the international importance of the city as an education hub.

Kateřina Janičatová

Team Leader CZ & SK Engineering & Operations, Antal Czech Republic and Slovakia

Expert commentary

As a key business centre in Central and Eastern Europe, Prague is highly valued for its employment opportunities for professionals and managers. Thanks to its strategic location and stable economic environment, Prague has become home to many global companies. The city’s developed corporate and innovation ecosystem is characterised by its diversity and dynamism, which attracts both domestic and international talents.

The city is characterised by very low unemployment, which has long been around 3%, one of the lowest in the Czech Republic. According to data from the Ministry of Labour and Social Affairs (MLSA), Prague’s labour market is healthy and dynamic, which is confirmed by high employment rates and favourable working conditions. This low number of the unemployed is one of the reasons why Prague inhabitants rate the opportunities to find a job in the city very positively – up to 79% of inhabitants in 2023 said it was “easy to find a job”. By comparison, only few cities, such as Munich or fast-growing Eastern European capitals, such as Bucharest, offer similarly favourable conditions. However, Prague has already encountered limitations in local labour resources and is increasingly dependent on foreign workers, especially in technical and professional fields.

Prague’s workforce is characterised by a high level of expertise and competence, especially in high value-added sectors such as IT, fintech, cyber security, and R&D.

Prague continues to strengthen its position as a leading business hub in Central Europe. In the 2024 ranking by fDi Intelligence, a prestigious British investment magazine, Prague was listed among the top 25 European regions of the future. The city also ranked as the third-best European metropolis in terms of human capital and lifestyle, just behind London and Paris, in the rating of European Cities and Regions of the Future.

Marek Žalud

Country Manager, Antal Czech Republic and Slovaki

Expert commentary

Prague is one of the most important business and investment centres in Central Europe. Its strategic location, stable economic environment and large market of modern office space attract investors from all over the world. The city has long maintained a high positionin international rankings that assess economic potential and business friendliness.

One of the main factors attracting investors to Prague is the highly developed office property market. As of the second quarter of 2023, the total volume of office space in the city amounted to 3.75 million m². Modern buildings often meet strict sustainability criteria and are certified according to LEED or BREEAM standards, which is a key aspect for investors focused on environmental sustainability.

In addition, Prague is committed to zero-emission projects and supports initiatives that contribute to the long-term environmental sustainability of the city. The city participates in projects such as EBRD Green Cities, which promote green urban development and contribute to improving the quality of life in the city.

Prague’s diversified labour market provides a wide supply of skilled workers, another key factor attracting businesses to the city. Growing emphasis on sustainability and technology makes Prague an ideal destination for companies looking for innovative and sustainable solutions.

The city is also becoming a hub for the growth of modern technology, creating opportunities for businesses focused on IT, data analytics and cyber security. Prague thus not only offers a stable environment for investment, but also supports innovative and technology-driven projects that are key to future economic growth.

Prague offers a vibrant lifestyle with a wide range of cultural activities. From theatres and cinemas to concerts and sporting events, there’s always something to do. Its strong online presence and positive business image contribute to its reputation as a top city for living.

Data on tourism and cultural development of the city

• 7.4 million tourists – and 78,6 % of them are foreign tourists
• In the Top 20 Europe destinations to visit
• 844 tourist accommodation facilities
• More than 90 museums
• 200 parks, squares and green spaces
• 3965 hectares of green spaces