In the recent years however the company has faced favorable economic conditions again and is fast becoming one of the rising economies in the region. ‘By contrast the rapid expansion of wholesale and retail trade, hotels and catering, financial and business services, transport and other services since 1989- to 53.4 percent of the GDP in 2006 – reflects their low level of development under the former command economy, as well as the subsequent stimulus from a huge increase in tourism.’ (‘Czech Country Profile’, 2008)
The country now has been reporting a positive balance of payments along with substantial growth I the service and retail base industries. Most of the influx and the growth in the service sector have been created due to the increase in the number of students coming intoCzechRepublicfor education and the increase in tourism exchange along with the membership of the country with the European Union.
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