Nearly 2,500 companies relocated from Slovakia

Most of them moved to neighbouring countries, consultancy company finds.

(Source: Sme)

A total of 2,389 companies decided to quit Slovakia and relocate abroad in 2017. Most often, these companies went to neighbouring European countries: to Hungary (622 companies), the Czech Republic (514 companies) and Bulgaria (129 companies).

Most of the companies left Bratislava Region, the SITA newswire writes, citing data on the departure of Slovak companies abroad published by the Bisnode consultancy firm.

Among the reasons for departing abroad the company included simpler conditions for doing business, more acceptable legislation, lower taxes, better courts, less corruption, lower payroll costs, and higher demand.

Desired destinations

“In the long term, Hungary and the Czech Republic are the countries where companies from Slovakia choose to relocate most often when they leave,” Petra Štěpánová, a Bisnode analyst, told SITA. “On the one hand, it is regional proximity, and in the case of Hungary it is specifically the very favourable tax burden. Entrepreneurs there pay a 9-percent tax while in Slovakia they pay a 21-percent income tax. The low tax burden of 10 percent can also be a plus for Bulgaria. Regarding the Czech Republic, the nonexistent language barrier is important, too.”

The top five most popular countries to relocate to from Slovakia includes Romania and Poland – mostly known for their lower labour costs.

“It is possible that some companies could have also considered this factor,” Štěpánová admitted in a press release.

The biggest number of companies left Bratislava Region (1,009), followed by Nitra Region (344). On the opposite end of the chart are Prešov and Trenčín Regions (94 both). One-fifth of all companies that left Slovakia in 2017 are active in wholesale and retail (506), in expert, scientific and technology activities (435) and administration and support activities (412), Bisnode reported.

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Theme: Economics


Top stories

Everybody wants to be home for Christmas, even migrants

Flight and train tickets are hopelessly sold out by now. But what about those who cannot make it?

Slovak family in Australia builds a sandman instead of a snowman for Christmas.

IIHF: Sudden death to determine 2019 ice hockey world champion

A new overtime format will be used for the first time at the Ice Hockey World Championship in Slovakia.

Migrants face problems when it comes to health care. Mainly myths

The issues include finding a general practitioner and securing health insurance.

Devils return to Piešťany

The second year of the march again raised some controversy.

The devils marched through Piešťany.