Top 10 facts about Czech Republic

 

CONTENT:

1. Geography and population in the Czech Republic

2. Official language in the Czech Republic

3. Currency in the Czech Republic

4. Internet in the Czech Republic

5. Economic development in the Czech Republic

6. Job in the Czech Republic

7. Working days and holidays in the Czech Republic

8. The mentality of residents in the Czech Republic

9. Advertising in the Czech Republic

10. Cryptocurrency in the Czech Republic

1. Geography and population in the Czech Republic

The modern Czech Republic was formed as a result of the collapse of Czechoslovakia on January 1, 1993. The country includes historical regions - Bohemia, Moravia, and part of Silesia. This is a unitary state and refers to developed countries.

Prague is a tourist attraction and the largest city in the country.

Since March 12, 1999, the Czech Republic has been a member of NATO, and since May 1, 2004 - a member of the European Union/ EU.

General information about the Czech Republic:

Capital: Prague

Area: 79,000 km²

International Direct Dial Code: +420

Top-level domain/ TLD: .cz

Population: 10,700,000

2. Official language in the Czech Republic

The official language of the country is Czech. It is spoken by about 95% of the population. It is a West Slavic language that shares many characteristics with Russian. If we talk about the language for the advertising campaign, you have to translate words into Czech, because the majority of the population is 95% Czech, and not everyone speaks English. 

3. Currency in the Czech Republic

The Czech koruna (koruna česká) is the currency of the Czech Republic. Formally, it consists of 100 haléř, but coins in hellers are not currently used. The Czech Republic has retained its national currency, although it is a member of the European Union (EU) and the Schengen visa. Almost all shops, restaurants, cafes, souvenir shops accept crowns, and euros - only in some large hotels and restaurants.

1 CZK 0.0468 USD (exchange rate for February 2021) 

4. Internet in the Czech Republic

More than 70% of the Czech population actively uses the Internet, and this number is constantly growing. The most popular sites in the Czech Republic are Google and YouTube, from social networks it is Facebook and Instagram, Twitter, and Pinterest.

Online shopping is very popular among residents of the Czech Republic. More than 40% of people make online purchases at least once a month. Every second Czech is often purchased through online stores. 

A recent poll confirmed that new technologies are firmly rooted in the lives of Czech residents. Only 5% of citizens can declare that they do not use online shopping. And for 1/10 of the respondents, online purchases have become a quite common platform. They search for goods on the Internet about 5 times a month.

5. Economic development in the Czech Republic

Inflation rate for the year 2.2% - Jan 2021

Interest rate 0.25% - Feb. 2021

Unemployment rate 4.3% - Jan 2021

Salary per month – 35.402 CZK/ 1,657.009 USD per month / III quarter 2020

According to statistics, residents of the country are used to paying by card rather than cash on delivery. The financial level of awareness is high. A man in the Czech Republic works in mechanical engineering, metallurgical and chemical enterprises. Many citizens of the country are engaged in business. Today, more than 1 million entrepreneurs are registered here - that is, every tenth citizen of the country. 

The cost of living in the Czech Republic is lower than in Western Europe. The country has a low crime rate, so residents can feel safe here. Affordable education, job prospects, and the ability to travel seamlessly across European countries benefit from living here. 

6. Job in the Czech Republic

Salary in the Czech Republic in 2021 depends not only on the skills and abilities of the employee but also on the standard of living in individual cities and regions. It is quite natural that wages in the capital exceed regional ones. The average salary in the Czech Republic is $1,500.

Average salary by region per month:

Prague - $2,000

Central Bohemian Region (excluding Prague) - $1,600

Brno - $1,500

Pilsen - $1,500

Usti nad Labem - $1,400

Average salary by profession per month:

Music teacher - $1,300

Director of elementary school - $2,700

Handyman builder - $1,650

Construction foreman - $3,200

Police Officer - $1,200

Medium size pension - $1,200

7. Working days and holidays in the Czech Republic

Good Friday and Easter Monday will provide 4 consecutive weekend days from April 2^nd to 5^th.

Holidays Day of Saints Cyril and Methodius (July 5) and the Day of Execution of Jan Hus (July 6) will be on Monday and Tuesday, which means there will be 4 more days off in a row.

Public holidays in the Czech Republic and weekends in 2021:

January 1 (Friday) - Day of Restoration of the Independent Czech State/ New Year

Weekends - January 1, 2 and 3

April 2 - Good Friday

April 5 - Easter Monday

Weekends - April 2, 3, 4 and 5

May 1 (Saturday) - Labor Day

May 8 (Saturday) - Victory Day

July 5 (Monday) - Day of Slavic Saints Cyril and Methodius

July 6 (Tuesday) - Day of execution of Jan Hus

Weekends - July 3, 4, 5 and 6

September 28 (Tuesday) - Day of Czech Nationhood

October 28 (Thursday) - Independence Day of the Czechoslovak Republic

November 17 (Wednesday) – Day of Struggle for Freedom and Democracy

December 24 (Friday) - Christmas Eve

December 25 (Saturday) - Christmas

December 26 (Sunday) - The second day of Christmas

Weekend - December 24, 25, 26

8. The mentality of residents in the Czech Republic

The main value for a Czech is family. All life is built around it. After work, Czechs spend time with their loved ones, and on weekends they travel and have picnics. Czechs are very calm, and judicious, and rarely show emotions. They are also friendly and practical - they rarely buy unnecessary trinkets and try to spend money wisely. Every young person here aspires to get higher education.

The residents of the country have a high level of education. Everyone is obliged to attend school until the age of 15. Every third citizen of the Czech Republic has a secondary education, and every tenth has higher education. Czech specialists have very high qualifications, and they are in demand not only in their own country, but also abroad. The Czech Republic has a low unemployment rate - no more than 2.5%.

9. Advertising in the Czech Republic

The main feature of marketing in the Czech Republic is the focus on the older generation. Why? Because the size of cash savings and pension payments from pensioners allows you to live without denying yourself anything. The older generation more often goes on vacations and travels, buys expensive cars, makes gifts to children and grandchildren, purchases expensive goods, and uses the services of healthcare companies. The older generation in the Czech Republic makes up about a third of the population, but Czech marketers understand that the demand for a marketing strategy that targets the older generation will continue to increase. Also, this group has one feature: in the field of the entertainment business, this group is considered unpromising in the Czech Republic.

10. Cryptocurrency in the Czech Republic

The Czech Republic became one of the European countries that are loyal to Bitcoin transactions, even before the cryptocurrency boom in 2017. So, in April 2015, the Czech National Bank issued a document that determined the state's attitude towards cryptocurrencies.

The Czech Republic was one of the first in Europe to take steps to smoothly regulate cryptocurrencies and their status in the country. Back in April 2015, the former governor of the Czech National Bank, Miroslav Singer, published a summary “Security of Internet payments and virtual currency from the point of view of the Czech National Bank”. According to this document, operations with cryptocurrencies were not limited in any way by the law of the country, only the norms of EU legislation were applied to them.

This allows you to freely play with cryptocurrency in the Czech Republic: for example, in Prague, you can rent a hotel for bitcoins and pay a check in some cafe (in particular, in a separate institution of the Paralelni Polis center and in 80 other outlets in the country). You can also pay with bitcoins in the Alza online equipment store.

In addition, dozens of blockchain companies operate in the Czech Republic, such as fintech startups SDK.finance, Cashila, finGOOD, and the bitcoin banking service wBTCb. General Bytes from the Czech Republic is recognized as one of the largest crypto ATMs in the world. They account for 30.6% of the global cryptocurrency ATM market. 

According to representatives of the Czech National Bank and the Czech Ministry of Finance, in the near future, new rules and laws on cryptocurrencies in the country will not exist. So, at the moment, the Czech Republic is still one of the most attractive countries where you can conduct crypto business and carry out transactions with digital currencies. Cryptocurrencies in the Czech Republic are mainly subject to regulation according to EU directives, in particular the AML-5 code, which prevents money laundering and illegal financial transactions.