Slovakia

Slovakia’s economic engine

As conurbation of the capital, the Bratislava and Trnava Regions embody the most highly developed part of Slovakia and hence play a central role in the strategic development of the country as a whole. The two regions boast the highest gross national product per capita, the lowest unemployment rates, the highest monthly average incomes and the highest density of scientific research and educational institutions in Slovakia. The Bratislava and Trnava Regions are moreover the main recipients of foreign investment disbursed in Slovakia.

Top foreign investors include e.g. Volkswagen, Siemens, Whirlpool, Jacobs Suchard Figaro and IBM. The field of industry is dominated by automobile manufacturing, the production of refined petroleum and petrochemical products as well as food production. Collectively, the strong foreign direct investment focus, the high standards of industrial production and the diversified economic base offer favourable conditions for economic development driven by technology and innovation.

Latterly, the construction industry, too, has demonstrated that marked growth can be attained through mixed-use building and housing construction. Tourism has become another important factor of economic development, which reflects the upward turn experienced by many small and medium-sized enterprises active in the trade and service sectors. Finally, the Bratislava and Trnava Regions benefit essentially from their geographic location, which favours direct exchange with highly evolved regions. This is clearly mirrored by the constant intensification of international economic co-operation and the increase in foreign direct investment.