If the tech sector continues to innovate so rapidly, why has overall productivity growth been exceptionally sluggish? David Byrne, Senior Economist, Federal Reserve Board of Governors, and Dan Sichel, Professor of Economics, Wellesley College ask in an article published on the voxeu.org portal.

2017 is turning out to be a good year for Prague’s hoteliers, who have managed to raise their prices to previously unseen levels. Meanwhile, occupancy rates also mean that rooms are producing a markedly higher yield than in the past, according to a report in the business daily E15, Radio Praha writes.

The IT sector has been on the rise in recent years. Employee opportunities are rising as well as demand for external workers - IT contractors. The IT sector has been experiencing a major recovery for several years now and we forecast that the next year will again be a very fruitful period for the IT sector, Hays Czech Republic says, adding that it’s important that companies recognise that if they choose to use an external specialist they will get an invaluable and quick technological advantage over their competitors. The market is becoming and will become a very much candidate-led market as contractors have the choice of projects and salaries.

On August 15, 2017, the amendment of the Act on Stay of Foreigners in the Czech Republic became effective. The main aim of the amendment is to transpose the Directive 2014/66/EU of the European Parliament and of the Council of 15 May 2014 on the conditions of entry and residence of third-country nationals in the framework of an intra-corporate transfer ("ICT Directive"), however, the amendment brings significant changes in all the key areas of business immigration in the Czech Republic.