Last week, we detailed the difference between GDP and GNI (which calculates what is left of the GDP after netting dividend and other flows out of and into the country). That gives us the foundation for assessing what sort of prosperity is being created in the Czech Republic. The news is good. This week will we jump to the other side of the spectrum to take a look at how individual citizens are spending that prosperity.

Recently, AmCham participated in a workshop on the development of economy held under the guidance of the  Economic Committee of the Senate of the Czech Parliament. Speakers of all shapes and stripes were present: businesses, academics, union reps, and politicians. Everyone agreed that the country was at an economic crossroad (one could argue that every country always is at a crossroad), but disagreed on what directions we could choose to take.