International tourism contributes more to the country’s economy than is revealed in national statistics. Not only do tourists serve an “export” role by spending income earned abroad at Czech hotels and in other industries designated as the tourist sector, but tourists also support the restaurant, retail, culture, banking (through withdrawal fees), telecommunication, and transport industries. National and city assessments of the economy do not assess this impact. We estimate, conservatively, that tourists contribute CZK 11,189 per night spent in Prague.  

The Czech economy declines again The second wave will push the economy lower once again. Consequently, GDP growth will also be lower next year. Compared with our July forecast, we expect the return to pre-crisis GDP to be postponed by one year, to 2023.