Money Buzz! Europa

Category: Bratislava

  • Number of visitors fell by 93% compared to May last year in Slovakia

    Number of visitors fell by 93% compared to May last year in Slovakia

    In May 2020, only 7 % of visitors stayed in tourism accommodation establishments compared to May 2019. Only 2.3 thousand of foreign visitors stayed, show latest Statistical Office of the Slovak Republic data.

    In May 2020, 38.946 people were accommodated in tourism establishments in Slovakia, and the number of visitors fell by 93% compared to May last year.

    Visitors spent 146.726 nights in the establishments, which was by 89,9% less year-on-year.

    Although the number of visitors increased almost 6-fold in May compared to April, their number was only at a 7% level compared to the same period last year.

    In May, the total number of visitors in hotels, boarding houses and other tourism establishments reached 553 thousand of guests last year (in 2018 it was 473 thousand visitors).

    The majority of guests (up to 94%) were represented by domestic visitors, the number of accommodated foreign visitors was only 2,3 thousand. In the same period last year, there were 224,7 thousand of foreign visitors.

    The most visited region during May was the Bratislavský kraj (21,2% of all guests)

    It was followed by two regions, which have a leading position mostly in the number of domestic visitors – the Žilinský and Prešovský kraj.

    During May, visitors spent 3,8 nights in the accommodation establishments on average, including domestic visitors 3,8 nights and foreign visitors 3,5 nights.

  • Twin City Liner will return to Bratislava from August 1st

    Twin City Liner will return to Bratislava from August 1st

    From August 1, 2020, the new Twin City Liner will return to its main line and connect Vienna with the Slovak capital Bratislava three times a week, after a break of more than three months due to coronavirus pandemic.

    The new “Red Ticket” allows a trip with the fast catamaran at the price of 22 euros each way in the category Economy Plus.

    A quick booking is recommended as there are only 22 pieces per trip are available.

    For those who have not been able to get any of the coveted “red tickets” the “Twin City Liner Loyalty Bonus” offers a 10 percent discount on the regular ticket price – no matter in which category.

    Seniors (from 60 years of age), students, staff, civil servants and persons with special needs receive every Friday, during the entire season, an 50 percent discount on the Twin City Liner ticket (ID card required).

    During the entire 2020 season, up to two children travel free of charge when accompanied by an adult. In addition, there is also a Twin City Liner surprise package with children’s sunglasses, coloring book and crayons for the little ones.

    Timetable and tickets

    Departures on Fridays, Saturdays, Sundays (and holidays) from the Vienna City ship station at Sweden Square at 9:00 A.M., arrival in Bratislava at 10:15 A.M.

    Return from Bratislava at 16:00, arrival in Vienna at 17:30.

    Single price per route and person: 22 euros with red ticket, economy from 30 euros, first class from 37 euros (main deck), Captain’s Lounge 47 euros (upper deck).

  • LPP opens a warehouse in Sered, Slovakia

    LPP opens a warehouse in Sered, Slovakia

    LPP has launched a Fulfilment Enter-type warehouse in Slovakia as part of its e-commerce channel development strategy, to support online sales on Central European markets.

    The warehouse located in PNK Park Sered was originally to cover 25.000 m2 of industrial space with an option to expand it by another 7.000 m2 over the next three years.

    The decision to open a warehouse in Slovakia is part of the company’s strategy for the development of its international distribution network.

    The building has been divided into two parts, the first one with an area of 17,000 m2 is mostly dedicated to manual operations.

    The second part (15,000 m2) is dedicated to automatic solutions and cross-dock operations of goods intended for the stores chain. It has also been equipped with high storage racks for e-commerce and brick-and-mortar stores from the Central Europe region.

    The total storage area for this purpose includes as many as 2040 pallet spaces. Despite the relatively short time that has passed since the launch of the facility, the maximum number of products that entered and left the warehouse in one day has reached 152,000.

    The investment makes it possible to offer all customers of LPP brands from the Central European region the next business day delivery, and in some locations even the same day delivery.

  • Bory Business Park Bratislava project sold to the Karimpol Group

    Bory Business Park Bratislava project sold to the Karimpol Group

    Penta Real Estate has successfully completed the sale of Bory Business Park project in Bratislava to the Karimpol Group development company.

    The land with a total area of 60,000 m2 is located in the new Bory district in Bratislava and was sold together with a building permit.

    The project allows the construction of retail space with the possibility of combining showrooms, offices and storage. Both parties have agreed that the transaction value will not be disclosed.

    Plans for the develpoment of Bory district

    In the new city district Bory, there is already a shopping and entertainment centre – Bory Mall – and several other large retail buildings.

    Bory district will also include a New Generation Hospital, built by Penta Real Estate, which will be capable to provide healthcare for patients from all over Bratislava.

    Bory also include a residential district – Bory Bývanie, which will bring more than 1.000 residential units, in its first four phases. Overall, a new modern city district with all the civic amenities, including a kindergarten is emerging.

    The transport infrastructure is already completely built including a connection to the D2 highway.

  • Postova Banka reduces current account fees

    Postova Banka reduces current account fees

    Slovak Postova Banka is reducing the current account management fee to 5 euro per month. It’s a 15 per cent discount from the current price of EUR 5.90 per month.

    Postova Banka fee for personal accounts is one of the lowest in the entire banking market in Slovakia.

    The decision comes in a moment when Slovaks are already in a negative developing economic situation and welcome every possible saving.

    As many as 16 per cent say they have been negatively affected by the pandemic and have a problem paying their bills. 34 per cent expect the effects of the corona crisis to be felt and will have difficulties in paying current expenses.

    More than half of people want to limit their consumption. On average, they plan to cut monthly spending, especially in restaurants and bars, leisure, travel and want to spend less on clothes, consumer goods and electronics stores.

  • Slovakia: In June consumer prices rose by 1,8 % compared with 2019

    Slovakia: In June consumer prices rose by 1,8 % compared with 2019

    In June compared with May, consumer prices decreased by 0,1 % in total and compared with June 2019, they rose by 1,8 %.

    Compared with May, in particular, prices of Food and non-alcoholic beverages (milk, meat, oils and fats, bread and cereals), they grew mainly in health (mostly dental and outpatient services).

    Compared with June last year, prices rose mainly of miscellaneous goods and services and of education.

    In year-on-year comparison, consumer prices increased in the divisions of miscellaneous goods and services by 4,6 %; education by 4,5 %; food and non-alcoholic beverages; housing, water, electricity, gas and other fuels; health equally by 2,6 %; communications by 2 %; furnishings, household equipment and regular household maintenance, recreation and culture; restaurants and hotels equally by 1,8 %; alcoholic beverages and tobacco by 0,9 %.

    Prices of transport dropped by 5,4 %, of clothing and footwear by 0,2 %.

    On average, over the first six months of 2020 compared with the same period of 2019, consumer prices increased by 2,3 % in total. 

    In June 2020, index of consumer prices increased, year-on-year in households of employees by 1,7 %, in households of pensioners by 2,1 % and in low-income households by 1,9 %.

    On average,over the first six months of 2020 compared with the same period of 2019, index of consumer prices increased in households of employees by 2,3 %, in household of pensioners by 2,6 % and in low-income households by 2,4 %.

  • Slovak car production was less than half of its last year’s production in May

    Slovak car production was less than half of its last year’s production in May

    Despite the fact that the performance of Slovak industry in May 2020 compared with April 2020, increased by almost 20 %, the total industrial production of the Slovak Republic reached only two thirds of the volume compared with last May. 

    In May, industrial production decreased by 33,5 %, year-on-year. The development was affected by a drop in manufacturing by 37,6 %, in electricity, gas, steam and air-conditioning supply by 5 % and in mining and quarrying by 9 %.

    The overall result was most significantly affected by the year-on-year drop in the production of transport equipment was by 56,9 %. The overall result was also favorably affected by high growth in the production of coke and refined petroleum products, which, however, is related to last year’s production shutdown of one of the large producers.

    From the total of 3 sections and 13 specific groupings of the industrial sectors, 8 groupings recorded a larger decrease in May by 25 %.

    As regards the specific groupings of the industrial sectors, which contributed the most to the total production fall, the most significant decrease was recorded in manufacture transport equipment by 56,9 %, manufacture of rubber and plastic products and other non-metallic mineral products by 35,5 %, manufacture of basic metal and fabricated metal products except machinery and equipment by 32,6 %, manufacture of electrical equipment by 42,2 % and manufacture of machinery and equipment n.e.c. by 32,8 %.

    The whole production was affected by a growth in manufacture of coke and refined petroleum products by 125,2 % which is, however, due to the last year´s low performance of the sector.

    Compared with May, in terms of the main industrial groupings, production of investment goods dropped by 48,9 %, production of durable products by 39,8 %, production of intermediate goods by 31,4 % and production of non-durable consumer goods by 19,3 %. Production related to energy was higher by 6,5 %.

    After seasonal adjustment, industrial production increased by 19,7 % in May 2020 compared with April 2020.

  • How many tourists visited Slovakia through travel agencies and tour operators

    How many tourists visited Slovakia through travel agencies and tour operators

    In 2019, within the organized tourism, the number of inbound foreign visitors in the Slovak Republic reached over 330 thousand people (it concerns one-day visitors and foreigners on overnight stays).

    They spent in Slovakia almost 200 thousand days on overnight stays.

    At the same time via travel agencies and tour operators, altogether 760 thousand people travelled (one-day visitors and overnight visitors as well) and the number of stay days reached nearly 5,3 million.

    Top 5 European destinations for Slovaks in 2019

    The top 5 destinations to which the Slovaks traveled included Turkey with 131.328 visitors, Croatia with 83.382 visitors, Greece with 78.133 visitors, Bulgaria with 60.992 visitors and Italy with 57.536 visitors.

    The total turnover for the services provided exceeded EUR 740 million.

  • Energy efficiency investments are a low priority for EU firms

    Energy efficiency investments are a low priority for EU firms

    The new European Investment Bank (EIB) report, Going Green – Who is investing in energy efficiency, finds that less than half of EU firms have invested in energy efficiency measures and that this accounts for only a small share of their total investment budget.

    The surveyed firms also state that, on average, only a third of their building stock satisfies the highest energy efficiency standards, showing a huge potential for further energy efficiency savings.

    The report further finds that firms’ awareness of energy efficiency benefits is critical for the uptake of energy-saving measures.

    Slovakia: Highest percentage of firms investing in energy efficiency

    In 2019, only 40% of EU firms took measures to improve energy efficiency. Slovakia displayed the highest percentage of firms investing in energy efficiency (61%), followed by Spain, the Czech Republic, Austria, Slovenia, Portugal and Sweden.

    Only these seven EU countries show a greater share of firms investing in energy efficiency than in the United States, where 47% of firms have invested in energy efficiency.

    By contrast, Lithuania, Estonia, Greece, Romania and France were at the other end of the spectrum. As regards their share of total investment in energy efficiency improvements, European firms spent only 10%, whereas this figure was 12% for US firms.

  • FYSAM Auto Decorative Slovakia will cut 33 jobs

    FYSAM Auto Decorative Slovakia will cut 33 jobs

    FYSAM Auto Decorative Slovakia will dismiss 33 employees, HN shows. In total, as of 31 August 2020, staff will be reduced to 44 employees.

    “Based on the current situation, the management of FYSAM Auto Decorative’s parent company has taken the decision to consolidate the staff and costs in its plants” said Róbert Kramárik, managing director of the company.

    This decision also affected the company’s plant in Veľký Krtíš, which is located on the premises of the former LIAZ.

    The company started business in Veľký Krtíš two years ago as Sam Automotive with a German owner.

    The plant was originally due to start production in the summer of 2018, but the investment was delayed due to the parent company’s problems, its restructuring and the expected entry of a new investor into the group.

    This became the Chinese company FUYAO last year.

  • InoBat Auto to be the first European supplier of customised batteries

    InoBat Auto to be the first European supplier of customised batteries

    InoBat Auto has secured additional EUR 10m investment to fund the development of a firstof-its kind 100 MWh R&D centre and production line in Slovakia.

    The funding has been secured from CEZ Group who will join lead investor IPM Group (IPM), technology investor Wildcat Discovery Technologies and other investors

    The investment from CEZ is in the form of a loan, which following subsequent additional investment, will have the potential to be converted into shares. I

    The construction of the first phase 100 MWh production line will begin later this year with the first batteries ready for distribution in 2021.

    InoBat Auto is also progressing plans to build a 10 GWh Gigafactory with the
    potential to provide 240,000 Electric Vehicles with cutting edge, bespoke batteries by 2024.

  • Industrial production at an all time low in Slovakia

    Industrial production at an all time low in Slovakia

    In April, industrial production reached the historical minimum since the establishment of the independent Slovak Republic, decreasing by 42 % year-on-year.

    This fall was mainly affected by a sharp decrease in manufacture of transport equipment by 78,9 %.

    This situation was significantly influenced by a cessation or restriction of the production at four Slovak car manufacturers as well as the production restrictions at subcontractors in the car industry as a whole, which responded to the measures taken against the spread of the COVID-19 in Europe.

    The most significant drop was recorded in manufacture of transport equipment

    The most significant drop was recorded in manufacture of transport equipment by 78,9 %, manufacture of rubber and plastic products and other non-metallic mineral products by 42,9 %, manufacture of machinery and equipment n.e.c. by 34,5 %, manufacture of metal and fabricated metal products except machinery and equipment by 26,2 % and manufacture of electrical equipment by 41,8 %.

    Compared with April 2019, in terms of the main industrial groupings, production of investment goods decreased by 62,8 %, production of durable consumer goods by 52,7 %, production of intermediate goods by 32,2 %, production of non-durable consumer goods by 30,3 % and production relating to energy by 5,1 %.