Size & Growth of business services in the czech republic
“Our forecast prediction is that by 2025 our sector will be approaching 180 000 employees making us the largest sector of the Czech economy, far greater than the auto industry or the combined engineering industries as the Czech Republic moves to a truly digital global service environment.”
In 2020, the business services sector in the Czech Republic grew at a rate of 5%. Its double-digit growth has been slowed by the spring period of uncertainty across the world economy due to COVID-19. Even so, more than half of the centers report growth, and a third did not increase or decrease the number of employees.
For 2021, 58% of Czech centers predict further expansion, and new investors are expected to arrive. Despite the COVID-19 slowdown in the economy, several new centers are planned to open in Prague, Brno and Ostrava. In total, they will create 10,000 new jobs.
Despite the COVID-19 pandemic, 53% of the surveyed centres plan to expand within the next 2 years mainly due to performing new activities and obtaining new customers. Compared to the previous years, the centres also plan to increasingly focus on stabilization and optimization of their current activities.
What will be driving the expansion in the centres that plan to expand their operations in the next 2 years?
Source: ABSL Survey 2020