Slovakia Travel Guide

Slovakia Hotels

Slovakia Travel Destination
Bratislava, Slovakia
Bardejov, Slovakia
Kosice, Slovakia

Slovakia Tourism:
Slovakia Architecture and landmarks
Slovakia Folklore
Slovakia Museums
Slovakia Natural Environment
Slovakia Ski Winter Sports
Slovakia Souvenirs and Shopping
Slovakia World Heritage Site

Slovakia Directory & Slovakia Travel Information

History of Slovakia:
Before the 5th Century

Great Invasions of the 4th-7th Centuries

Slavic States

The Era of Great Moravia
Kingdom of Hungary

Czechoslovakia and World War II

Rule of the Communist Party

Establishment of the Slovak Republic

Slovakia Geography & Climate
Slovakia Demographics

Slovakia Politics

Slovakia Regions & Districts

Slovakia Economy
Slovakia Industry

Slovakia Infrastructures

Slovakia Tourism

Slovakia Science

Slovakia Culture

Slovakia Literature

Slovakia Cuisine

Slovakia Music

Slovakia Sports


Slovakia Vacation Trips

Vacation Holiday Trips offers travel tips and information for top travel places and best destinations. We feature links, resources and large selection of budget airlines, chartered planes, sea cruises, ferries, travel agencies, land transports and attractions including beaches, medical tourism, retirement homes, historical and pilgrimage tours.


Slovakia Economy

The Slovak economy is considered a tiger economy, with the country dubbed the Tatra Tiger. Slovakia has achieved a difficult transition from a centrally planned economy to a modern, high-income market economy. Major privatizations are nearly complete, the banking sector is almost completely in private hands, and foreign investment has picked up.

Slovakia's economy is characterized by sustained high economic growth. In 2006, Slovakia achieved the highest growth of GDP (8.9%) among the members of OECD. The annual GDP growth in 2007 is estimated at 10.4% with the record level of 14.3% reached in the fourth quarter.

Unemployment, peaking at 19.2% at the end of 1999, decreased to 7.51% in October 2008 according to the Statistical Office of the Slovak Republic. In addition to economic growth, migration of workers to other EU countries also contributed to this reduction. According to Eurostat, which uses a calculation method different from that of the Statistical Office of the Slovak Republic, the unemployment rate is still the second highest after Spain in the EU-15 group at 9.9%.

Inflation dropped from an average annual rate of 12.0% in 2000 to just 3.3% in the election year 2002, but it rose again in 2003-2004 because of increases in taxes and regulated prices. It reached 3.7 % in 2005.

Slovakia adopted the euro currency on 1 January 2009 as the 16th member of the Eurozone. The euro in Slovakia was approved by the European commission on 7 May 2008. The Slovak koruna was revalued on 28 May 2008 to 30.126 for 1 euro, which was also the exchange rate for the euro.

Slovakia is an attractive country for foreign investors mainly because of its lower labour costs, low tax rates and well educated labour force. In recent years, Slovakia has been pursuing a policy of encouraging foreign investment. FDI inflow grew more than 600% from 2000 and cumulatively reached an all-time high of $17.3 billion USD in 2006, or around $22,000 per capita by the end of 2008.

Despite a sufficient number of researchers and a solid secondary educational system, Slovakia, along with other post-communist countries, still faces many challenges in the field of modern knowledge economy. The business and public research and development expenditures are well below the EU average. The Programme for International Student Assessment, coordinated by the OECD, currently ranks Slovak secondary education as the 30th in the world.

In March 2008, the Ministry of Finance announced that Slovakia's economy is developed enough to stop being an aid receiver from the World Bank. Slovakia became an aid provider at the end of 2008.


rip Holidays also showcase a unique blend of travel and leisure photos and stories, updates, events and announcements about roads, shopping malls, hotels, bed and breakfast, restaurants, groceries and more. Not just a travel guide but one-of-a-kind discovery of people and places.

Slovakia Travel Destination
Bratislava Slovakia - Bardejov Slovakia - Kosice Slovakia

Slovakia Travel Informations and Slovakia Travel Guide
History of Slovakia: Before the 5th Century - Great Invasions of the 4th-7th Centuries - Slavic States
The Era of Great Moravia - Kingdom of Hungary - Czechoslovakia and World War II - Rule of the Communist Party
Establishment of the Slovak Republic

Slovakia Geography & Climate - Slovakia Demographics - Slovakia Politics - Slovakia Regions & Districts
Slovakia Economy - Slovakia Industry - Slovakia Infrastructures - Slovakia Tourism - Slovakia Science
Slovakia Culture
- Slovakia Literature - Slovakia Cuisine - Slovakia Music - Slovakia Sports

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