Competitiveness / Business and Industry
This section feature research, opinion and progress reports on how the Czech Republic compares to other EU countries economically. It includes analysis of international rankings such as the WEF and World Bank.
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Spotlight issue
AmCham Annual Commercial Real Estate Overview: Domestic demand is necessary for the economy to pick up and behavior of consumers is crucial for all sectors. Will the investment and spending rebound?
On March 24, AmCham Real Estate Council met for an annual commercial real estate market update, moderated by Jan Adámek of JAN Hospitality, covering the office, retail and industrial sectors. Experts from JLL (Blanka Vačkova, Mike Atwell, Tomáš Soukup), 108 Agency (Petr Florián) and BNP Paribas (Dušan Drábek, Kamila Breen) outlined most recent data and trends. The traditionally strong demand for office space has weakened, the pandemic-hit demand for retail space and hotels has not recovered, and the demand for „beds and sheds“ (residential and industrial real estate) has been on the rise. Prime yields from real estate assets have decreased across Europe, but the market could recover from 2022.
Prague will need a longer time to recover and government support, including vaccination, is crucial. Domestic demand is necessary for the economy to pick up and behavior of consumers is crucial for all sectors. Will the investment and spending rebound?
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Prague business launched recovery program for SMEs
Prague businessmen and experts launched a platform "DoToho!" to support recovery of mostly Prague-based SMEs with turnover from CZK3 million to CZK300 million. The program initiated by AmCham member Opero´s owner Pavel Přikryl and supported by City of Prague, EU funded Prague Smart Accelerator project and other companies such as Google or T-Mobile, will become part of Prague Innovation Strategy.
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AmCham Real Estate Council Hotel Market Overview: “The ones who are best at managing costs will come out as winners.”
AmCham Real Estate Council chair Bert Hesselink of CTP Invest presented results of AmCham Hotel Market Survey, showing that less than 5% of respondents are definite about closure of their hotel. Around 75% of respondents see strong demand from customers to travel. Respondents rate government support at 3 out of 5 (on the scale 1-highest, 5-lowest score). Agata Janda of JLL added the CEE perspective and trends, Jan Adámek of JAN Hospitality provided further data on the Prague market, and hoteliers shared their experience from day-to-day operation of hotel nowadays.
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