Prague demonstrates an iconic metamorphosis from a city of historical and cultural grandeur to one of modern innovation and sustainability. Czech Republic’s capital city 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 does Prague perform in areas like reputation and influence, business attractiveness, livability, and sustainability, according to leading rankings and indices?
Let’s take a closer look at:
- Economic competitiveness and financial performance
- City brand strength and global reputation
- How appealing it is for talent, visitors, and locals?
Economic Competitiveness
The Global Financial Centres Index 35 ranks Prague 86th, just behind Sao Paulo (85th). Within Eastern Europe, the city ranks a very strong 3rd – between Tallinn (2nd) and Warsaw (4th).
Prague is ranked 59th in 2thinknow’s Innovation Cities Index 2022-2023, comparable with Hong Kong (58th) and Lisbon (60th).
City Brand Strength and Reputation
Brand Finance’s City Index 2023 positions Prague 49th, between Dallas (48th) and Helsinki (50th). The report places a spotlight on Prague, stating that it 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 well for Sustainability & Transport (29th), Green Spaces and Recreation (25th), and as a Clean and Environmentally Friendly City (28th).
Resonance‘s 2024 World’s Best Cities Report ranks Prague 12th – between Rome (11th) and Madrid (13th). The city is well-known for its tourism, being affordable, compact, and walkable, and having numerous high-quality museums and historic sites. Prague ranks 3rd in Attractions and 4th in Nightlife.
Kearney’s 2023 Global Cities Report ranks Prague 47th in its Global Cities Index, between São Paulo (46th) and Dallas (48th). In Kearney’s Global City Outlook ranking, the city is placed 50th, between Hangzhou (49th) and Shanghai (51st).
How Attractive as a Place to Live, Work, and Study?
The Mercer Quality of Living City Ranking places Prague 71st, between Los Angeles (70th) and Cleveland (72nd). Mercer’s Cost of Living Ranking places the city at 33rd, between Kinshasa (32nd) and Helsinki (34th).
In the Best Urban Cities for Digital Nomads ranking by Spot a Home, Prague ranks 31st, between Bern (30th) and Vilnius (32nd). 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.
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 248th.
Urban Sustainability
The Arcadis Sustainability City Index 2022 ranks Prague 58th, between Lisbon (57th) and Houston (59th). The city’s sustainability goals and aim to be carbon neutral by 2050 are visible in its balanced (yet improvable) pillar rankings: Planet 47th, People 44th, Profit 68th.
Last updated in April 2024. Explore more city profiles here.
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Disclaimer: The information in this article is intended to provide a general overview of Prague’s economic and cultural landscape and facilitate comparison over time. While we strive for accuracy and completeness, we are not responsible for any typographical errors or inaccuracies. The data is provided ‘as is’ without warranty of any kind. Users should verify any information before relying on it for decision-making purposes.
