Czechia Economy

Work abroad sounds like an adventure to many people. However, job search in Czechia requires more than just the obvious Czech CV writing and translation, it requires thorough preparation. You will face problems that probably did not even come to your mind when you made a decision to get an overseas employment.

Do not take too lightly the influence an employment in Czechia can have on the effect of your adventure! For instance, you will experience the different immigration rules and practices, strange job application procedures, unfamiliar job candidate selection criteria and out of the ordinary management culture.

Most visits to Czechia are trouble-free but you should be aware of the risk of indiscriminate terrorist attacks, which could be against civilian targets, including places frequented by expatriates and foreign travelers like restaurants, hotels, clubs and shopping areas. In recent years, the Czech authorities have carried out a number of investigations and operations against terrorist networks.
You should exercise a high level of security awareness and monitor local news broadcasts and consular messages. Making local contacts quickly and seeking support from other expatriates will greatly increase your comfort and safety

Czech economy - overview: One of the most stable and prosperous of the post-Communist states, the Czechia has been recovering from recession since mid-1999. Growth in 2000-07 was supported by exports to the EU, primarily to Germany, and a near doubling of foreign direct investment. Domestic demand is playing an ever more important role in underpinning growth as interest rates drop and the availability of credit cards and mortgages increases.

Negotiations on pension and additional healthcare reforms are continuing without clear prospects for agreement and implementation. Intensified restructuring among large enterprises, improvements in the financial sector, and effective use of available EU funds should strengthen output growth.

When Western Europe and Germany fell into recession in late 2008, demand for Czech goods plunged, leading to double digit drops in industrial production and exports. As a result, real GDP fell 4.7% in 2009 and has slowly recovered with positive quarter-on-quarter growth starting in the second half of 2009 and continuing throughout 2011. The auto industry remains the largest single industry accounts for nearly 24% of Czech manufacturing. The Czechia produced more than a million cars for the first time in 2010, over 80% of which were exported.

Foreign and domestic businesses alike voice concerns about corruption especially in public procurement. Other long term challenges include dealing with a rapidly aging population, funding an unsustainable pension and health care system, and diversifying away from manufacturing and toward a more high-tech, services-based, knowledge economy.

Labor force - by occupation: agriculture: 4.1%, industry: 37.6%, services: 58.3% (2003)

Unemployment rate: 6.6% (2007 est.), 8.5% (2011 est.)

Natural resources: hard coal, soft coal, kaolin, clay, graphite, timber

Industries: metallurgy, machinery and equipment, motor vehicles, glass, armaments

Czechia CurrencyCurrency: Czech Koruna (CZK, symbol Kč) or Crown = 100 haler. Notes are in denominations of 5,000, 2,000, 1,000, 500, 200, 100 and 50Kč. Coins are in denominations of 50, 20, 10, 5, 2 and 1Kč, and 50 haler.

Credit/Debit Cards and ATM's: Major cards such as American Express, Diners Club, Discover, Visa, MasterCard and others may be used to exchange currency and are also accepted in some hotels, restaurants and shops, and in ATM's.

Traveler's Cheques: these are accepted in banks, but only rarely in hotels and almost never in restaurants. To avoid additional exchange rate charges, travellers are advised to take traveller's cheques in US Dollars, Euros or Pounds Sterling.

Exchange rates:Koruny (CZK) per US dollar - 17.25 (2011 est.), 19.098 (2010 est.), 19.063 (2009), 17.064 (2008), 20.53 (2007), 22.596 (2006), 23.957 (2005), 25.7 (2004), 28.209 (2003)

Inflation rate (consumer prices): 2.9% (2007 est.), 1.9% (2011 est.)

Other Czechia Economy Info

We hope that your Czechia job search has been successful and you have an Czechia visa with Czechia work permit too. So, if your Czechia cover letter and Czechia CV are ready, you may distribute them to your future employers and start preparing for a Czechia job interview.

Do not forget to take a look at Czechia dress code because how you dress is the one of the most important attribute in being hired.
Check the job interview tips do's and don'ts, and find out why people are not hired for available jobs.
Also take a quick look at job interview tips and other job search skills pages.

In addition, on the international info, job search, visa, work permit, cover letter, CV & resume, job interview and dress code pages you will find many useful tips for overseas job seekers.

Good luck with the Czechia economy info!