The Standard of life
The standard of life in the Czech Republic is fairly high taking into account the relatively low prices of food, shoes and clothes.
The government is focused on reforms aimed at boosting the development of the market economy. The availability of fairly inexpensive goods makes people commute to Prague particularly from Germany and France. The status of Prague as the capital causes many people from around the Czech Republic to visit there. On the other hand, many people from Prague travel to the rest of the Czech Republic for recreational reasons. The availability of an inexpensive labour combined with the relative stability has allowed some foreign investors to open up a number of enterprises producing high quality goods at fairly cheap prices. The crown exchange rate has been fluctuating between 30 and 40 crowns per US dollar for quiet a while. It should be stressed that the majority of the country's budget is funded from the tourism industry. Prague has been declared the world's cultural capital of the year for 1999-2000 by the UNESCO committee. With a population of 1,300 m people nearly 50 m tourists visit every year. The Czech Republic enjoys the lowest unemployment rate in Europe with a high standard of life. Residency permit holders have equal rights with all Czech citizens and that allows for free high education.
Life in the Czech Republic is relatively inexpensive compared to other European countries. The cost of living obviously depends on the consumer habits of the individual. The accommodation costs are believed to take the largest part of a family's income. People who plan to change their employment and accommodation would consider the lower property prices a beneficial factor to their salary. However, the family's prosperity not only depends on their salary and expenses but generally on the level of potentially earned income given the qualifications of adult members in the family.
Real estate prices are continuously getting higher and it is forecasted that after the Czech Republic joins the EU they would reach up to the level of other developed European countries.
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