For business, 2021 will be a year of reinvention. One year into the COVID-19 pandemic, we surveyed 5,050 CEOs around the world about their plans to respond to new threats, transform their operating model and create a more sustainable future.

Year-on-year data from the real economy will start to show a strong expansion from March, due to comparison with last year's pandemic outbreak. On a month-on-month basis, however, we expect weak data in the case of retail sales, as stores have closed. The manufacturing could grow in March despite problems with the supply of components. Higher prices at petrol stations will increase year-on-year inflation. For the time being, the CNB will wait for further developments. We expect interest rates to continue to rise in the fourth quarter of this year, respectively, once the risks associated with the epidemic have subsided.

During this month, Prague Airport offers direct air connections to around 35 destinations, including charter flights. The list comprises routes to major European cities (e.g., Amsterdam, Frankfurt, Paris and more), popular holiday retreats (such as Hurghada, Madeira, Canary Islands, etc.) and large hubs in the Middle East (namely Dubai and Doha). Many flights from Prague will be re-launched at the beginning of May 2021.

Bold innovation by some firms under pressure of the pandemic could deliver a productivity dividend, but that depends on corporate action broadening and robust demand.