Money Buzz! Europa

Category: Bratislava

  • Polish retailer HalfPrice to open first store in Slovakia this spring

    Polish retailer HalfPrice to open first store in Slovakia this spring

    The first store of the HalfPrice chain is just being built in Nitra, Slovakia and will be opened in April 2022.

    Slovakia is the fifth foreign market to which the CCC Group’s off-price chain will be present.

    HalfPrice Nitra will be located in the Promenada Shopping Mall. In this country, CCC currently has 54 offline stores.

    Eight months from its launch, over 40 HalfPrice stores operate in the Czechia, Austria, Croatia and Hungary, in addition to Poland.

    HalfPrice is a store concept in the off-price segment, offering a wide variety of popular brands including clothing, footwear, accessories, cosmetics, toys and home furnishings.

  • Tourism in Slovakia at only 11% of the pre-pandemic values

    Tourism in Slovakia at only 11% of the pre-pandemic values

    In April visits to hotels and boarding houses were one third ahead of March but still rose to only 11% of the pre-pandemic values, Slovak Statistical Office shows.

    The accommodation establishments were visited by 50 thousand people, which was by 89% less than the number of visitors two years ago in April.

    Two years ago (in April 2019), up to 442 thousand visitors used the accommodation services and reported 1,1 million overnight stays.

    A significant majority of visitors in Slovakia in April were also domestic tourists, representing 86,2% of the number of accommodated visitors (43 thousand people).

    In April, the most domestic tourists visited Žilinský kraj, Bratislavský kraj and Prešovský kraj.

    At the same time, accommodation establishments were visited by 7 thousand foreign visitors in April. A year before the pandemic (April 2019), their number exceeded 171 thousand. 

    In total, for the months of January to April 2021, 140,2 thousand visitors were accommodated in tourism establishments, which represents a year-on-year decrease by 87,1%.

    The number of domestic visitors decreased by 83,4% year-on-year in four months and the number of foreigners by 93,9 %.

  • Orlen’s service station chain in Slovakia has doubled in 2020

    Orlen’s service station chain in Slovakia has doubled in 2020

    With two new sites under the Benzina Orlen brand opened recently, Polish group has 20 sites in Slovakia.

    Even more, customers can use Stop Cafe offering at 13 locations. Another 7 stations will be upgraded to the Orlen’s standards in 2021.

    Food and store services are the fastest growing sales segment at the Benzina Orlen stations, its volumes in the Czech Republic having increased by 320% over the past eight years.

    It also enjoys considerable interest from Slovak customers.

    As in the Czech Republic, the chain’s offering in Slovakia includes Polish products, such as beverages, snacks, automotive oils and fluids.

    Currently, motorists in Slovakia can use Orlen stations located in the urban areas of Malacky, Holice, Lužianky, Šelpice, Šurany, Strečno, Tesárske Mlyňany, Senec, Ružomberok, Byteč, Dunajská Streda, Trebatice near Piešťany and Kysucké Nové Mesto.

  • Average monthly wage in Slovakia at EUR 1.113 in Q3 2020

    Average monthly wage in Slovakia at EUR 1.113 in Q3 2020

    In Slovakia, the average monthly wage increased by 4,2 % to EUR 1.113, but the growth was mainly driven by the public sector.

    The unstable period caused by the Covid-19 pandemic in the third quarter has not yet significantly affected the wage growth.

    After a unique decline in the nominal value of the average wage in the last quarter, monthly wages increased by an average of EUR 45 year-on-year in the 3rd quarter.

    After taking into account the inflation rate, real wage growth reached by 2,7 %. Compared to the 2nd quarter of 2020, the seasonally adjusted average wage rose by 6,7 %.

    In the sectors where most people work, the increases reached 2,1 % in industry and 1,5 % in trade.

    Compared to the corresponding period last year, the average nominal wage increased in all sectors monitored, with growth reaching from 0,3 % in administrative services to 10,5 % in public administration and defense.

    Higher increases were also recorded in education (by 10,2 %), health and social work (by 6,7 %) and in professional, scientific and technical activities (by 6,1 %).

    Average nominal monthly wage was higher than on average for the entire economy of the Slovak Republic only in Bratislavský kraj (EUR 1.358).

    In all the other regions, it ranged from EUR 893 in Prešovský kraj to EUR 1.064 in the Trnavský kraj.

  • Slovakia: Unemployment rate at 7,2 % in Q3 2020

    Slovakia: Unemployment rate at 7,2 % in Q3 2020

    The corona crisis increased the unemployment rate in Slovakia to 7,2 %, leaving almost 200,000 thousand people without work.

    A growth rate of the unemployment accelerated in the third quarter, the Statistical Office of the Slovak Republic reports.

    The number of unemployed persons reached 196,5 thousand persons and was higher by 21,9 % year-on-year, which represents 35,3 thousand persons.

    The unemployment rate increased by 1,3 p.p. to 7,2 % year-on-year. It thus grew for the third consecutive quarter and reached the level of the turn of 2017 and 2018.

    In a quarter-on-quarter comparison (3rd quarter of 2020 compared to the 2nd quarter of 2020), seasonally adjusted unemployment increased by 10,6 thousand persons, which represents an increase of 5,9 % to 190,7 thousand persons.

    As a result of the corona crisis, the short-term unemployment rose

    The number of unemployed within six months reached 96,1 thousand, which means that every second person without work has become unemployed in the last six months.

    The share of this group in the total number of unemployed increased to 48,9 %, a year ago it was less than a third.

    Unemployment increased the most in the two most numerous age groups of unemployed, namely in the group of 35-49 years old by 34,7% and among young people 25-34 years old by 29 %.

    Number of unemployed decreased slightly in 55-59 years old and in 50-54 years old, year-on-year.

  • Slovakia: Tourism industries accounted for a share of 2,74 % of GDP in 2018

    Slovakia: Tourism industries accounted for a share of 2,74 % of GDP in 2018

    In 2018, the tourism industries produced a total value of EUR 9,9 billion and accounted for a share of 2,74 % of total GDP in Slovak economy and slightly increased year-on-year.

    The tourism direct gross domestic product reached the value of EUR 2,4 billion, which represented a year-on-year higher value of 10,8 %, the Statistical Office of the Slovak Republic reported.

    The number of people employed in tourism has been growing continuously since 2013, in 2018 there were 180,7 thousand. Most of them worked in food and beverage services and in passenger transport.

    In total, tourism participants spent almost EUR 5,9 billion (expenditures of domestic and foreigners in the territory of the Slovak Republic as well as expenditures of Slovak citizens on trips abroad).

    Total expenditures increased by 10,2 % year-on-year. The highest part of expenditures of visitors in the territory of the Slovak Republic (domestic and foreign visitors in the Slovak Republic) went to the payments for accommodation and food and beverage services (38 % of expenditures).

    The total number of holiday and business trips within the domestic, inbound and outbound tourism reached the value of 60.9 million trips and increased by 9,5 % year-on-year.

    In Slovakia, domestic visitors and foreigners made a total of 52,6 million trips, of which almost three quarters were same day trips.

  • At 115 meters tall, Klingerka becomes Slovakia’s tallest residential building

    At 115 meters tall, Klingerka becomes Slovakia’s tallest residential building

    After twenty months of construction, Klingerka project developed by J&T REAL ESTATE (JTRE), has reached its highest point and at 115 meters is officially the tallest residential building in Slovakia.

    The 36 above-ground floors were built at a rate of one floor every 10 days.

    Klingerka is designed as two lenticular buildings – apartment tower and administrative building – connected by an above-ground car park with grassed roof.

    Thus, the central area will be complemented by all necessary civic services and amenities on the ground floor.

    The 36-storey residential tower sits on the plot’s eastern side and the 11-floor office building creates a smooth transition to the existing area of older Klinger-area family houses.

    Klingerka, 115 meters high, 36 above-ground floors, offers 380 two to four room apartments, 376 balconies, 5 lifts, 678 parking spaces and 425 m2 retail space.

    The project is scheduled for completion in 2022.

  • Volkswagen abandons investment in Turkey and expands production in Slovakia

    Volkswagen abandons investment in Turkey and expands production in Slovakia

    Volkswagen will move production of its Passat model and premium Skoda Superb model to its plant in Bratislava, after initially wanting to produce the two cars in Turkey, The Slovak Spectator reported on Tuesday.

    The German group’s investment will be much higher than expected by Prime Minister Igor Matovič’s government.

    It is unknown whether electric vehicles will be produced in Bratislava, said another Slovak publication, Denník N.

    In July, the Slovak government signed a memorandum with Volkswagen representatives, suggesting an investment of 500 million euros, but recent information indicates an investment of over one billion euros.

    The amount was mentioned by Herbert Diess, Volkswagen CEO, in an interview with the German magazine Automobilwoche. He confirmed the increase in production at the plant in Slovakia.

  • Vectary secures $7 million round led by EQT Ventures

    Vectary secures $7 million round led by EQT Ventures

    Vectary announced a $7.3 million round led by the EQT Ventures fund. Existing investor BlueYard also participated in the round.

    Lauched six years ago, Vectary became the most accessible browser-based 3D and AR platform, helping millions of creators get into the 3D design.

    The increased network speeds now enable a wider range of applications for 3D/AR content, and in the upcoming years, we will see a fundamental shift in design.

    Configurable 3D assets and content for the 2D web, as well as VR/AR, will become increasingly commonplace. As a result of COVID-19, there was a 300% increase in AR views as more businesses started showcasing their products in 3D and Augmented Reality.

    ”3D will eventually outpace 2D. Understanding the shape, depth, and scale of objects is particularly important when choosing and purchasing products and soon having 3D content on a site will be as familiar as having a JPEG image is now”, says Michal Koor, CEO Vectary.

  • Coronavirus: Slovakia to test all persons older than 10 years

    Coronavirus: Slovakia to test all persons older than 10 years

    Slovakia Prime Minister Igor Matovič said at a press conference that the state prepares nationwide coronavirus testing.

    This should take place during two consecutive weekends, Slovak Spectator reports.

    The pilot testing will take place next weekend in the districts of Tvrdošín, Námestovo, Dolný Kubín, and Bardejov. Testing for the rest of the country will take place the following two weekends.

    The testing will be free of charge and available to everybody. It is not clear whether the testing will be mandatory.

  • JTRE receives EUR 105 million loan for new Eurovea apartments

    JTRE receives EUR 105 million loan for new Eurovea apartments

    VÚB banka and UniCredit Bank have provided a EUR 105 million syndicated loan for the construction of Eurovea’s extended residential part.

    The project will include approximately 500 apartments in Eurovea Tower – Slovakia’s very first skyscraper – and waterfront Eurovea Riverside residences. This loan is one of the highest granted for a Slovak development project in recent years.

    70% of apartments have already been sold

    Launched to market last summer, 70% of Eurovea Tower and Eurovea Riverside apartments have already been sold.

    Construction work broke ground in December 2019, and underground floors are currently being built.

    The Eurovea expansion project also includes two office buildings with 40.000 sqm combined leasable area, 25.000 sqm additional retail space, and 1400-car underground parking.

    A new 25.000 sqm waterfront park will environmentally expand the popular Danube promenade, and a new activity park will revitalise the area below Apollo Bridge.

    Pribinova Street will be transformed into a tree-lined city boulevard. The ribbon should be cut at the enlarged shopping centre in 2022, with the whole project completed in 2023.

  • 73% of Slovaks consider that eggs from local production are of the highest quality

    73% of Slovaks consider that eggs from local production are of the highest quality

    Almost a third of Slovaks buy eggs several times or at least once a week and 39% at least once every two weeks, Ekonomika reports.

    At the same time, 73% consider that eggs from local production are of the highest quality, while 63% think that Slovakia is self-sufficient in egg production.

    Almost half of Slovaks declare that it is important for them in what conditions the chickens that lay the eggs live.

    Also, only 36% understand the symbols that indicate the type of farming on the eggs.