William Malcolm

Study Ranks The Czech Republic Best Manufacturing Destination In Europe

As in previous years, the Czech Republic has the most favorable conditions from European countries for expanding production. It ranks fifth in the global rankings behind China, India, the USA, and Canada. Last year, the Czech Republic was fourth. This follows from the results of a study by the real estate consulting company Cushman & Wakefield.

According to the survey, Czechia scored well in all areas, such as operating costs, labor force, political and economic risks, or the ability to restart after the coronavirus crisis. Czechia was number one in Europe last year and the year before.

“The Czech Republic has traditionally been proud of its status as a country suitable for the manufacturing sector. The fact that it holds this position is very good news for the whole economy, which shows the country’s attractiveness for new construction. Several factors contribute to this. strategic location within Europe, qualified workforce and stable economic environment, “said Jiří Kristek, partner and head of the lease of Cushman & Wakefield industrial areas and shopping parks.

This year, the Czech Republic took fifth place in the ranking assessing risks, seventh last year. Of Europe, it was surpassed only by Finland in fourth place.

The ranking also assessed countries’ ability to recover from the coronavirus crisis by monitoring population vaccination percentages and projected GDP growth. The Czechia thus placed in the second quarter of the countries with the best position for a restart. China, Ireland, and the Netherlands finished in the first place. “Despite the slower start of vaccination, the Czech Republic is quickly ranking among the progressive countries that are striving to get out of the coronavirus crisis as quickly as possible. The steps taken are essential for the manufacturing sector to function without any obstacles or restrictions. “said Kristek.

The Cushman & Wakefield Manufacturing Risk Index rates each country on the basis of 20 variables, which are the basis for three weighted rankings assessing production conditions, costs, and risks.

Top ten countries of the Global Manufacturing Risk Index 2021:

5Czech Republic