Czech Republic among top destinations for expats
26. 9. 2016 | Source: BusinessInfo.cz
Czech Republic jumps from 18th to 4th position in HSBC’s global ranking of best places to live and work for expats. Becoming the best performing European country in this league table.
Czech Republic is becoming an increasingly more popular destination to live and work for expats – reveals HSBC's Expat Explorer Survey. This is demonstrated by the progress the country has made in a league table created on the basis of the survey – in comparison to last year's edition, Czech Republic has moved from 18th to 4th position in the overall ranking.
In the survey expats were asked to comment on three elements of living and working in a country: economy (the shape of the local market, personal finance, career opportunities), experience (lifestyle, people around them, ease of stting up) and family (relationships and social life, education and childcare, raising children abroad). Respondents living in the Czech Republic turned out to be optimistic about the economic conditions – the country was ranked 12th in the economy-dedicated chart, higher than the UK (16.) and Irealand (31.), which are very popular destinations for Czech nationals moving abroad.
Czech Republic got an even better rating (8.) in the experience-related category, scoring better results than many countries famous for their hospitality and openness to different cultures. However, Czech Republic’s biggest achievement in this survey is second best result in family league table.
Michael Hordley, CEO of Czech HSBC shares his view on life in Czech republic: “It is a very easy place to live in. I've moved around the world for over 13 years and have found the Czech Republic to be one of the easiest places to assimilate to. The natural beauty, moderate climate and relaxed laissez-faire approach to life outside of work make for an attractive environment in which to raise a family, whilst the internationally oriented economy offers a good set of professional options and career opportunities.
Prague is a small enough city to be easy to navigate and get to know quite well and yet has all of the amenities you would expect from a large center. It is a very international place without having lost its cultural identity and the people are generally open to new ideas and different perspectives, making it easy to build good connections with locals and internationals alike, resulting in a strongly connected and very interesting place to live.”
64 % of expats in the Czech Republic says the quality of education is better than at home, compared with the global average of 43 %. More than half (59 %) say the cost of education is less expensive there than at home, which compares with 20 % of expats globally. Parents also appreciate the quality of childcare in the Czech Republic, with 64 % of expats rating it as better than in their home country. This compares to just under half (47 %) of expat parents globally. Education and childcare in Czech Republic are valued the best from all 45 countries included in the survey.
“Czech Republic is a beautiful and small country to live in, very easy to settle in with family, the barrier of not speaking the local language is not a serious issue as most people speak English. For some registrations with the local Administration, a translator might be needed though. Located at the heart of Central Europe, it gives the opportunity not only to visit many interesting places within the country but at also to have at few hours drive, cities like Vienna, Berlin, Dresden or the Alps. Prague offers a high standard of living, much cheaper than other European main cities but with similar options for leisure time: an amazing heritage, lots of outdoor and indoor activities and sports to practice and a decent variety of restaurants and cuisines.
Many international companies have subsidiaries in Czech Republic specially considering the know-how of the local work-force in manufacturing activities. There are also many companies opening financial hubs in Czech Republic for their operations in Central Europe. So overall, an interesting place for career opportunities and networking people from many different countries,” comment life in Czech republic Pablo Tovar, Country Head of GTRF and PCM, HSBC – Prague branch.
Expat Explorer 2016 overall league table
The best countries for expats to live and work
- 1. Singapore
- 2. New Zealand
- 3. Canada
- 4. Czech Republic
- 5. Switzerland
- 6. Norway
- 7. Austria
- 8. Sweden
- 9. Bahrain
- 10. Germany
Source: 2016 Expat Explorer Survey
Now in its ninth year, Expat Explorer is the largest and one of the longest running surveys of expats, with 26,871 respondents sharing their views on life abroad including careers, financial wellbeing, quality of life and ease of settling for children. For the first time data for Czech republic is included in the online visualisation – the ratings of 45 host countries are available to explore online through the Expat Explorer interactive tool.
Based on HSBC Press Release