Prague’s Positive Immigration Boom in 2019

The Czech Republic in general, and Prague in particular, is experiencing a shortage of local IT professionals – which is prompting Czech startups to try and convince IT workers and engineers from across the European Union to migrate to the Czech Republic. In 2018 alone, the number of IT workers in the country grew by 20,000, reaching a total of 206,000.

The Czech Republic is Calling for Tech Professionals

According to representatives from local HR companies that recruit employees, this is far from over – for one simple reason: there are tens of thousands of open job opportunities for IT workers in the Czech Republic in the immediate term. Conservative estimates put the number at 30,000, but some claim it could be as high as 50,000. And as the internet and tech industries continue to develop, these figures are expected to keep rising in the coming years.

As mentioned, most of the employees come from EU countries with high unemployment rates (such as Spain, Italy, and Greece), but also from outside the EU and from South American countries.

Visa Applications on the Rise

One of the consequences of this recruitment effort is a surge in visa applications for residence in the Czech Republic. Between the beginning of January and the end of June 2019, 408,000 visa applications were submitted – a 13% increase compared to the same period the previous year. 95% of all visa applications are approved by the Czech authorities.

In 2018, 722,000 visa applications were submitted in the Czech Republic – an all-time high, but estimates suggest that this number will surpass 800,000 in 2019.

While some applications come from countries that require a visa to visit the Czech Republic (such as India and China), others are economic in nature – for example, entrepreneurs and businesspeople coming to the Czech Republic for business purposes. However, most applications are from individuals arriving for work purposes.

This places the Czech Republic 7th in this category among the 26 European Union member states. Which brings us to the reason we wrote this article: IT professionals are looking for places to live in the Czech Republic, particularly in Prague.

This is the perfect time to purchase real estate in Prague at reasonable prices, with excellent financing options, and benefit from the expected value increases in the coming years.

We’d be happy to assist you, contact us here.