Prague City Performance, Brand Strength and Reputation

Prague demonstrates an iconic metamorphosis from a city of historical and cultural grandeur to one of modern innovation and sustainability. The city stands as a beacon of Eastern European excellence. It takes advantage of its strong reputation as a tourist destination to compete with other Central and Eastern European cities to attract young international talent and foreign investment, including tech giants such as Microsoft, Cisco, and Oracle.

But how is Prague performing in terms of reputation and influence, business attractiveness and sustainability? Let’s explore deeper how Prague positions itself on the world stage, drawing insights from data provided by leading rankings and indices.

Let’s take a closer look at:

• Prague’s competitiveness and financial performance
• Prague’s brand strength and global attractiveness
• Liveability: Prague’s appeal for digital nomads and locals

Prague’s competitiveness and financial performance

How attractive is Prague as a place to work and do business?

The Global Financial Centres Index 35 ranks Prague 86th, just behind Sao Paulo (85^th). Within Europe, the city ranks 3^rd  – between Tallinn (2^nd) and Warsaw (4^th) – making it a significant regional center in Eastern Europe.

Prague is ranked 59th in 2thinknow’s Innovation Cities Index 2022-2023, sitting between Hong Kong (58^th) and Lisbon (60^th).

Prague’s brand strength and global attractiveness

Which factors hurt and help the brand of Prague? 

Resonance’s 2024 World’s Best Cities Report ranks Prague 12^th – between Rome (11^th) and Madrid (13^th). The city is well-known for its tourism, being affordable, compact and walkable, and having numerous high-quality museums and historic sites. Prague ranks 3^rd in Attractions and 4^th in Nightlife.

Kearney’s 2023 Global Cities Report ranks Prague 47^th in the Global Cities Index, between São Paulo (46^th) and Dallas (48^th). In Kearney’s Global City Outlook ranking the city is placed 50^th, between Hangzhou (49^th) and Shanghai (51^st).

Brand Finance’s City Index 2023 positions Prague 49^th, between Dallas (48^th) and Helsinki (50^th). The report places a spotlight on Prague, stating that Prague has the best city brand in Central and Eastern Europe. This is primarily due to its ability to leverage its reputation as an affordable, tourist friendly, and modern metropolis.

Prague also actively pursues sustainability goals, aiming to be carbon neutral by 2050. The city ranks high for Sustainability & Transport (29^th), Green Spaces and Recreation (25^th), and as a Clean and Environmental Friendly City (28^th).

Livability: Prague’s appeal for digital nomads and locals

Which aspects of Prague make it an attractive place to live, work and study?

The Mercer Quality of Living City Ranking places Prague 71^st, between Los Angeles (70^th) and Cleveland (72^nd). The Mercer Cost of Living Ranking places the city at 33^rd, between Kinshasa (32^nd) and Helsinki (34^th).

In the Best Urban Cities for Digital Nomads ranking by Spot a Home, Prague ranks 31^st, between Bern (30^th) and Vilnius (32^nd). The city ranks highly in Quality of Coworking Spaces, Average Rental Cost for a 1-Bedroom Apartment, Green Spaces and Parks, and Cost of a Beer, highlighting its appeal to young talent and tourists alike.

The Arcadis Sustainability City Index 2022 ranks Prague 58^th, between Lisbon (57^th) and Houston (59^th). The city’s sustainability goals and aim to be carbon neutral by 2050 are visible in its balanced pillar rankings as follows: Planet 47^th, People 44^th, Profit 68^th.

In 2024, the Times Higher Education ranking placed Charles University in the 401-500 bracket. Being the oldest and largest university in the Czech Republic, the university is a respected research-orientated institution that is home to over 50,000 students. The QS World University ranking ranks Charles University 248^th.

Last updated in April 2024. More city benchmarking insights, profiles and reports in our City Observatory.

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