Prague

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Prague, the capital of the Czech Republic, lies right in the heart of Europe, beside Germany, Austria, Slovakia and Poland. The most commonly spoken languages here are Czech and Slovak, though most people in Prague speak English or German, too. Prague has played an important role in the history of the Czech Republic and Europe.
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Prague Economy


Prague generates over 20% of the national gross domestic product and double the average of the whole country is attributable to it in per capita terms.

Approximately one-fifth of all investment in the Czech Republic takes place in the city’s territory.
The largest part of Prague’s economy has undergone profound transformation, and a vast majority of the private sector that has emerged through privatisation over the last decade has successfully adapted to the new conditions of the market economy.
In addition to Czech businesses a number of foreign companies operate in the city and their business interests spread in all directions throughout the continent. The favourable investment climate is also confirmed by the city’s ‘A’ rating by Standard & Poor’s.
The services sector has grown significantly while the percentage of manufacturing industries is decreasing. In addition to business services (finances, real estate market, information technologies, consulting, advertising, etc.) and services for individuals (primarily retail), the tourist industry holds an exceptional position in Prague.
The most important industrial sectors are the printing, food, chemical, and engineering industries. A significant proportion of research and development is based in Prague.

The GDP per capita of Prague is more than double that of the Czech Republic as a whole, with a per-capita GDP (PPP) of 33,784 (purchasing power standard) in 2004, which is 157.1% of the European Union average, ranking Prague among the 12 richest EU regions, in Purchasing Power. However, the price level is significantly lower than in comparable cities.

The city is the site of the European headquarters of many international companies.

Since the late 1990s, Prague has become a popular filming location for international productions and Hollywood motion pictures. A combination of architecture, low costs and the existing motion picture infrastructure have proven attractive to international film production companies.

Prague's economy is based on various industrial sectors. Prague's industrial sector is split into aircraft engines, diesel engines, refined oil products, electronics, chemicals, food, printing, automobiles etc. Also a significant proportion of research and development is based in Prague. Approximately one-fifth of all investment in the Czech Republic takes place in Prague city. 

Almost one-half of the national income from tourism is spent in Prague. The city offers approximately 73,000 beds in accommodation facilities, most of which were built after 1990, including almost 51,000 beds in hotels and boarding houses capable of satisfying all categories of visitors.