Prague richest city in post-communist zone
Prague is the richest city in the former Eastern Bloc, says the Swiss bank UBS in its annual index of the richest cities in the world. For the second year in a row, the Czech capital has an edge over Ljubljana, the Slovenian capital, which ranks 43rd on the index, while Prague is 41st.
Prague ranks above them all—above Budapest, Bratislava, Warsaw, Riga, and even above Ljubljana. According to data collected by the Swiss bank UBS—which ranked cities according to prices, incomes and purchasing power—of all the post-communist cities of central Europe, the highest standard of living is afforded to residents of the Czech capital, Prague. The global UBS index has granted Prague this status for the second consecutive year, ranking the city 41st, just behind Singapore.
Marius Dragomir, a Romanian who resides in Prague and travels extensively in central Europe on behalf of the Open Society Institute, explains why the Czech capital is such an attractive place:
"I think that what is really great in Prague is the fact that you can navigate it very well, the city is very easy to handle. First of all, the public transportation is wonderful here and this was one thing that I noticed when I came here some six years ago. Then in the past years the city has developed a lot in terms of offering what I would say are good services for a good price. Over the past years I've seen that everything in Prague became a bit more expensive than it used to be some years ago, but it's probably not such a big difference. However, what I want to stress is that it is really, I would say, affordable for everybody to enjoy almost everything."
While the UBS index indicates that there is still a significant difference in the living standards between Prague and nearby Vienna, which ranks 21st on the index, the Czech capital is on the right path.