2021 was a year of large-scale changes worldwide, and the Czech Republic was no different. Whether it was changes in employment, banking, consumer protections or prices, the country is going through many other things, and if you plan on visiting, it’s good to know what to expect.
Consumer protections
The country is pushing to make a living within its borders better every year, which is no different. With the new government now entirely in power, there are plans to completely ban companies from cold-calling without first establishing a contractual relationship with the customer. This should prevent random companies from calling you day and night.
Another protection is a result of a sudden price rise in energy. It includes requiring energy companies to be transparent about any price changes with their customers and prohibiting the ending of any contracts for the next three years. While this is just one way of combatting the rising costs of living, and there is undoubtedly more to do, this is a step in the right direction.
Daily life
In a landmark decision, the Czech government will allow all people with the feminine suffix “ová” in their surname to change their name and remove the suffix without giving a reason. This is a significant change since the suffix was previously removable only by foreigners or Czech citizens. They expected to work abroad for an extended period. This also has a positive impact on the rights of LGBTQI+ people since the change from a feminine to a masculine form of a surname can otherwise be a struggle.
There are also several price increases on the horizon for the Czech Republic. First is the rising price of housing which has been steadily increasing as a result of property speculation. Another price increase will be at vets and in the famous store IKEA as both have had problems securing materials for their products.
Similarly, thanks to the pandemic-related slowing down of car production, second-hand cars are likely to get even more expensive. Lastly, the new government will likely scale down the significant discounts for students and seniors alike regarding public transport and rail fares. While this is unlikely to make much of a difference to visitors from wealthier countries, Czech citizens will feel these changes for sure.
Banking and finance
Apart from two mergers of banks (Equa bank being acquired by Raiffeisenbank and the Air bank and Moneta bank merger), there have been many rapid changes. The spiralling inflation in the Czech Republic has long been the result of the populist public spending of the previous government. As a result, many banks like the Czech National Bank, ČSOB, and the Česká spořitelna will all increase their mortgage rates.
This move will most likely make the mortgage even less accessible than it already was in 2021.
Another significant shift, this time for the better, is an increase in pensions for senior citizens. The increase won’t be gigantic, only about 800 Czech crowns (about €33) per month, but it is a welcomed step in the right direction.
