Czechs spend more abroad than statistics claim
Financial analysts at the Česká spořitelna bank have calculated that Czechs spend approximately 5% of their total expenses abroad, based on the fact that their spending outside of the Czech Republic by credit and debit cards amounted to 45.9 billion crowns last year. Analysts claim that the number of trans-border shopping trips is on the rise due, to a large extent, to the rise in the Value Added Tax and the weakening of the crown. What is interesting is that the Czech Statistical Office estimated the amount spent abroad to 2.3%, Mladá fronta Dnes reported on Saturday. This may mean that the Czech households are not as badly off as it has seemed from official statistics, the report claims.