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Slovakia Business

Slovakia business prospects are bright thanks to a number of advantageous economic fundamentals. Dubbed the "Tatra Tiger", the Slovakian economy boasts a cheap and skilled labour force, a low, flat tax for corporations and individuals, no dividend taxes, a relatively liberal labour code and a favorable geographical location lying in the center or Europe. A member of the EU since 2004, Slovakia has a rather diverse economy based on manufacturing, agriculture and services. The main industrial sectors are car manufacturing and production of electrical and optical apparatus. Other important industries include metallurgy, machinery, oil, gas, chemicals, plastics, manmade fibers, paper, printing, ceramics and earthenware. Rich farmland, particularly in the southern region bordering Hungary, supports a vibrant food and beverage industry. Tourism has been growing in recent years, however this sector still remains underdeveloped in comparison with neighboring countries. Slovakia tourism features natural landscapes, mountains, caves, medieval castles and towns, folk architecture, Carpathian Mountain spas and ski resorts. In terms of skilled services like IT, engineering and research centers, business ventures will find favorable conditions in the eastern part of the country, where government investment stimuli, higher rates of unemployment, and lower overall costs are quite desirable for foreign investment.

Slovakia flag
  • population (2011): 5,477,038
  • population growth rate: 0.117%
  • median age: 37.6 years
  • official language: Slovak
  • area: 49,035 km² (18,932 miles²)
  • GDP (PPP) per capita (2010): $22,000
  • Doing Business 2017 rank: 33
  • one of world's largest car producers per capita
  • Bratislava - strategic logistic location for trade
  • adopted the Euro currency in early 2009
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Slovakia Info


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