Market Landscape Overview
The Czech economy is open, and its advantageous location and comparatively low labor costs are the main attractions. As a result, a tradable service sector is evolving, and multinationals play a major role in the retail industry. The creation of international production plants has accounted for a huge share of the republic’s sizable foreign-direct investment.
Mobile penetration in the Czech Republic is among the highest in the central European nations and compared to western European levels almost as high. Mobile advertising has been recognized as a future growth market opportunity for operators.
When doing business in the Czech Republic, investors need to be aware of some cultural differences in the Czech Republic. For example, Czech society is not nearly as individualistic as the society of for example the United States, and great inequality exists between those in power and the general population. On the other hand, there are several benefits to doing business in the Czech Republic, including low wage costs, favorable tax rates and an adequate workforce.
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