ČS analysis: standard of living in Czechia has improved thanks to EU accession

If Czechia were not part of the EU, the country would be faring a lot worse economically, according to an analysis by the Czech bank Česká spořitelna, the results of which were presented at a press conference on Wednesday. Since joining the EU, the standard of living in Czechia has improved, with GDP per capita in terms of purchasing power reaching 91 percent of the European average in 2023, compared to 80 percent in 2004, the analysis suggested. Real GDP per capita in the Czech Republic has increased by 40 percent since the country's accession to the EU, from CZK 249,000 in 2004 to CZK 675,000 in 2023.