Slovakia is a small country in the Central Europe, with economically advantageous location. Its neighbours are Austria, Hungary, Poland, Czech Republic and Ukraine. If you live in Bratislava region it would take you only about an hour drive to get to Austria and about 2,5 to Hungary, which makes it a unique place in Europe.
There are about 5.5 million people living in the country and population is multicultural and multi-faith. Due to migration inside EU and from other countries, Slovakia attracts a lot of foreign managers and employees for working at niche and highly specialized businesses. Unemployment rate is one of the lowest in Europe – less than 5%.
The country is a part of NATO and the EU; it is land locked and has borders with Czech Republic, Austria, Poland, Hungary and Ukraine.
Slovakia is an industrial country with dynamically developing economy. In 2019, GDP was about 112 billion USD (around $20,600 per capita).
The country got its independence on January 1 of 1993. Through its history, it was a part of many different states and empires: from Samo’s Empire in VII century to Czechoslovakia in XX. During WW2 there was Slovak state that was dependent on the Third Reich but in 1945 it became Czechoslovakia again.
Vienna is the closest Bratislava’s neighbour and the most comfortable city to live according to Mercer’s 2019 city ranking. The area where the cities are located has a mellow climate and beautiful nature. Austrian border lies just 7km to the West from Bratislava and Vienna is 55km away, which makes them two capital cities located closest to each other in the world.
Vienna airport is one of the biggest hubs in Europe and it is very close to Bratislava as well – just 40km away from the center of the city. You can easily find a lot of cheap flights to any part of Europe, there are over 60 destinations that low-costers do from the airports of Bratislava and Vienna. Very often, it happens so that two round tickets to Rome or Paris are cheaper than a dinner in a good restaurant.
Slovakia is a beautiful country that has tall Tatra Mountains, lots of warm lakes to swim in, green valleys and meadows, and moreover it is a country that has the biggest amount of preserved ancient castles. You and your family can have fascinating weekends exploring the country, each time different from another for years.
Slovakia’s GDP:
After Czechoslovakia fell, little by little, Slovakia came from plan economy to market-driven one. Reforms in taxation, healthcare, pension and social security systems that were made in early 2000s allowed the country to apply for the EU membership, which happened in 2004. In 2009, Slovakia became a part of Eurozone and almost all sectors of the economy have passed into private ownership. Active privatization became the reason why foreign companies control almost all banks in the country. The infusion of foreign investment into the country’s economy over the past few years mainly focused on the automotive industry and electronics.
The volume of nominal GDP for 2019 was about $112 billion, which is about $20,600 per capita.
The volume of nominal GDP for 2019 was about $ 112 billion, about $ 20,600 per capita.GDP purchasing power – $203 billion, about $37,268 per capita. For comparison, in Israel in 2019 GDP purchasing power was $42,828 and in Russia – $29,181
Up to the pandemic times, Slovak economy was showing stable growth: in 2018, the growth was 3.8%, but in 2Q of 2019, it slowed down to 1.9%.
Slovakia doesn’t have budget deficit which allows it to control the inflation – in 2019 it was only -0.5%.
Preliminary forecast for GDP growth in 2020 was -3.9% due to economy crisis cause by coronavirus pandemic however, over the summer months, the country managed to improve the actual figure to -3.7%.
Population:
There are about 5.5 million people living in Slovakia and there are slightly more women than men – the difference is just a few percent. In last few years, there are more births than deaths in the country – about 57 thousand newborns and about 53 thousand deaths annually.
Average life expectancy is 75.8 years. For men it’s 71.9 and for women it’s 79.9 years.
The total area of the country is 49 thousand km2. The density of population is 110 people per km2, however in Bratislava region it is over 200 people per km2.
Slovakia is a multicultural country: Slovaks is the major population of 85.8%, the biggest minority is Hungarians with 9.7%, also there live Czech, Rusyns, Gypsies and other nationalities.
Russian language is considered to be a language of a minority along with many other languages – there are about 1.1% of Russian native speakers living in Slovakia.
More than a half of Slovaks are Catholic – 68.9%, Lutherans are 6.9% and 13% are atheists. Yet, there live people of many different confessions, such as Greek Catholic, orthodox Christian, Yahudi and others.
Geography of the country:
Slovakia is located right in the center of Europe; total area of the country is 49,035 km2. In the north, it has a border with Poland, in the east –with Ukraine, in the south – with Hungary and in the west – with Austria and Czech Republic.
On the north and northeast of the country there stand beautiful chains of Carpathian Mountains. On the northeast where border with Poland is, an alpine plateau High Tatras is located. It is the highest part of the Carpathians – Gerlachovský štít is 2,655 meters tall and the highest among the peaks. There are also Kriváň, which considered being the most beautiful mountain of High Tatras, and Ďumbier Mountain, which is the highest point of Low Tatras; both those mountains are higher than 2000 m.
On the east of the country the Carpathian rivers are flowing. To the south from the mountains, numerous tributary streams that start high up in the mountains, flow into Danube, and three biggest tributaries are Váh, Nitra and Hron. Danube creates a natural border on the southwest of the country.
Most part of Slovakia’s territory averages 750 meters above sea level – about 80% of the country. The region of Bratislava and Komárno is located in the Pannonian Basin and is the breadbasket of the country.
Almost 40% of the territory in Slovakia is taken by forests of different sorts. Here you can find beeches and oaks, on the northern slopes there grow mostly coniferous forests of fir and silver-fir trees, if you go higher up to the mountains, you’ll find alpine meadows.
Many different kinds of wild animals inhabit mountain forests – reindeers, lynxes, wolves, bears, foxes, squirrels, various weasels and others.
Education:
In Slovakia nursery education, primary and middle schools are managed by the system of nursery education, they call it predškolské zariadenia; schools can be state, private or church-run.
High education institutes can be of three kinds: public (Verejné vysoké školy), state (Štátne vysoké školy) and private (Súkromné vysoké školy), or by three types: universities (univerzitné vysoké školy), non-university high schools (neuniverzitné vysoké školy) and professional high schools (odborné vysoké školy). There people can their first – bachelor’s –higher education degree.
The education in Slovakia is free if your studies are in Slovakian language. In private universities you can study in Slovakian (starting €500 per year), English, German and French (starting €3000 per year)
The best universities in the country are: Comenius University in Bratislava, Slovak University of Technology in Bratislava (STU), Slovak Medical University in Bratislava (SMU), Technical University of Košice, University of Economics in Bratislava, Matej Bel University (UMB), Pavol Jozef Šafárik University in Košice.
In the higher educational institutions of the university type, professional universities and in Slovak Academy of Science people run their scientific researches and can apply for degrees of Master and higher.
Income:
Salaries in Slovakia are lower than in most developed EU countries, however, low prices for food, fuel, and essential goods largely equalize the purchasing power between residents of different EU countries.
Average salary before tax €1371 / $1520,65 a month (2019)
Average salary after tax €1024.05 / $1135,92 a month (2019)
From 1 January 2020 the minimum wage is €580 before tax and €476,74 after tax. It also affects the basic amount of social and other insurance payments.
Living and working in Slovakia has its pros and cons, as everywhere.
The main benefits of it are:
The main disadvantages are:
Medicine:
The modern health care system of Slovakia is funded by the state and is being implemented through the compulsory health insurance for its citizens. The Ministry of healthcare of Slovakia and the Bureau of healthcare supervision controls medical services.
There are five insurance companies in Slovakia that provide the health insurances, and two of them – the largest ones – belong to the state. People can change their insurance company anytime, but there are virtually no competition among them.
If you have a job in Slovakia – you have to pay insurance contributions, this is obligatory for all. Although there are benefit-entitled citizens, for whom their contributions are paid by government:
Kids before 18 that live on the territory of Slovakia, despite if they are citizens or not, have to have state medical insurance, it is free and guaranteed by the government.
Minimal contribution that can be taken for medical insurance is €91, though the maximum amount is limited as well and that makes the system loyal to people with high income.
Medical insurance covering most of the medical expenses like supervision by specialists, hospitalization and all types of operations, prenatal care, supervision of newborns, rehabilitation. Sometimes they might charge you extra for some prescription drugs, dental services and medical devices.
Unnecessary medical procedures such as cosmetic surgery, sterilization and medical treatment abroad are not covered by the insurance.
Ambulance
Calling an ambulance in Slovakia is always free even for those who do not have the medical insurance and people can get it at any hospital anytime they need it. Yet, ambulance will only come if you really have an emergency, if the operator considers that you are able to come to the emergency room yourself, no matter what time of the day it is, you’ll be offered exactly this option.
Slovak mentality:
Slovaks have very peculiar mentality, as life is slow here and people are relaxed. We gathered a few interesting facts about them to understand who actually are those people around us.
An average Slovak prefers to live where his or her children are living or studying. Even if you would offer such person a job with a much higher salary but they would need to relocate for that – that’s not happening.
Wine. Slovaks love their local products and, obviously, wine is among them, everyone would tell you that Slovakian wine is the best in the world. It may be too sour, too sweet or too harsh, but it is local and favourite just because of this fact. Sure, you can find good wines in Slovakia too but in lower price category, they are not as good as Italian or French ones (for the foreigners, of course).