Market Size of Czech Republic Freight And Logistics Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 3.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Czech Republic Freight and Logistics Market Analysis
The Czech Republic Freight and Logistics Market is expected to register a CAGR of 3% during the forecasted period.
- The Czech Republic's economy is growing mostly because people are spending more and the transportation system is getting better. About 38% of the costs of logistics in the country come from the activities involved in moving goods, mostly transportation. Also, the country's location makes it easier to trade with countries in Europe. The lower cost of labor and the current growth of the domestic market, which offer many opportunities, help to attract foreign investors.
- As per a survey, more than 50% of companies expressed that the industry shows lower costs in the supply chain. The positive relationship between trade unions, the government, and companies is a key long-term factor that will help the economy of the Czech Republic grow.
- The country is one of the top 15 car producers by volume, producing 107.5 vehicles per 1,000 people. Prague is the key logistics center in the country, but other cities such as Plzen, Brno, and Ostrava are also growing in importance. The position of the Czech Republic is reasonable in comparison with other European countries.
- The Czech Republic is seen as a country that has a competitive advantage when it comes to skilled human resources in the logistics industry. Between 2022 and 2023, the number of people with jobs in the Czech Republic was expected to rise by a total of 0.01 million, or 0.19 percent. The number is estimated to amount to 5.24 million people in 2023.
- As defined by the International Monetary Fund, the number of employed people refers to persons who, during a predefined period, either: year over year: a) performed wage or salary work; b) held a formal attachment to their job (even if not currently working), c) performed for-profit work for personal or family gain; or d) were with an enterprise although temporarily not at work for any reason.
