Creative Industries Czechia

Global Development Czechia at Red Yellow Blue (RYB)

Creative industries in Czech Republic – Creative Brno

The dialog about the importance of cultural and creative industries (CCI) has been developing in last couple of years since wide range of studies about this topic has been published. Although cultural and creative industries are currently not defined in any of the Czech state´s strategy documents, the Czech Statistical Office (CSO) in cooperation with the National Information and Counselling Centre for Culture (NIPOS) settled in 2008 Culture Account – the first official research publishing annual economic data of the cultural sector.
> creativebrno.cz/ci-in-czech-republic/

Mapping Cultural and Creative Industries in the Czech Republic

This brochure summarises the results and experiences gained during the Arts Institute’s five-year research project entitled Mapping the Cultural and Creative Industries in the Czech Republic (2011–2015). During those five years, we succeeded in establishing cooperation with a number of experts, institutions, and municipal representatives. We are pleased that we can provide information about various studies, methodologies, and specific projects that develop creativity and lead to professionalism in business and in practice. The aim of this publication is to present that which has already taken place, as well as to motivate additional towns and cities, officials, and active groups of experts and entrepreneurs to carry out definite activities, which will help to develop the potential of cultural and creative industries or sectors.
PDF > culturenet.cz/Mapping-Cultural-and-Creative-Industries-in-the-Czech-Republic.pdf

Economy

high income, diversified EU economy; advanced services and automotive exporter; mostly intra-EU trader; low unemployment; usually maintains a positive trade balance; large investments in systems innovation and information technologies

Czechia is a prosperous market economy that boasts one of the highest GDP growth rates and lowest unemployment levels in the EU, but its dependence on exports makes economic growth vulnerable to contractions in external demand. Czechia’s exports comprise some 80% of GDP and largely consist of automobiles, the country’s single largest industry. Czechia acceded to the EU in 2004 but has yet to join the euro-zone. While the flexible koruna helps Czechia weather external shocks, it was one of the world’s strongest performing currencies in 2017, appreciating approximately 16% relative to the US dollar after the central bank (Czech National Bank – CNB) ended its cap on the currency’s value in early April 2017, which it had maintained since November 2013. The CNB hiked rates in August and November 2017 – the first rate changes in nine years – to address rising inflationary pressures brought by strong economic growth and a tight labor market.

Since coming to power in 2014, the new government has undertaken some reforms to try to reduce corruption, attract investment, and improve social welfare programs, which could help increase the government’s revenues and improve living conditions for Czechs. The government introduced in December 2016 an online tax reporting system intended to reduce tax evasion and increase revenues. The government also plans to remove labor market rigidities to improve the business climate, bring procurement procedures in line with EU best practices, and boost wages. The country’s low unemployment rate has led to steady increases in salaries, and the government is facing pressure from businesses to allow greater migration of qualified workers, at least from Ukraine and neighboring Central European countries.

Long-term challenges include dealing with a rapidly aging population, a shortage of skilled workers, a lagging education system, funding an unsustainable pension and health care system, and diversifying away from manufacturing and toward a more high-tech, services-based, knowledge economy.