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Prague: Harnessing positive perceptions to elevate its city brand

Brand Finance
08 June 2023

Lucia Legathova, Economic Diplomacy Specialist for the City of Prague, discusses the attraction of the city of Prague as a top tourist destination, including its affordability, rich cultural heritage, and sustainable commitment.

Lucia Legathova, Economic Diplomacy Specialist, City of Prague
Lucia Legathova, Economic Diplomacy Specialist, City of Prague

Prague has been named the best city brand in Central and Eastern Europe, largely thanks to its popularity as a destination to visit. Are there plans at Prague City Hall to leverage these positive perceptions in order to attract more talent and investment alongside visitors?

We understand that if Prague wants to maintain its competitiveness, it is necessary to strengthen its reputation abroad and holistically communicate its position as a progressive and modern metropolis. We have exciting plans in motion to capitalise on our popularity as a tourist destination and attract more talent and investment. In the fall, we will be launching a public tender for a new place branding strategy for the City of Prague.

This tender will be open to branding agencies and consultants from around the world to create a shared understanding of what Prague is and how it should be communicated. Our goal is to showcase Prague as an enticing place to live, study, work, and invest, emphasising the vibrant lifestyle, cultural heritage, and excellent educational institutions in the Czech capital.

Prague

The city ranks high globally for Sustainability & Transport (29th), especially for being easy to get around by bicycle (25th) and public transport (26th), as well as for green spaces and recreation (25th), and as a clean city that cares for the environment (28th). What role does sustainability play in Prague’s development strategy?

Prague's commitment to sustainability is at the heart of its development strategies. The city has devised two key plans for future sustainable development that serve as a roadmap for the city's future development. Prague's dedication to creating a greener, cleaner, and more livable urban environment for both residents and visitors is exemplified by these strategies.

Prague's vision to address climate change and reduce greenhouse gas emissions is defined in the Climate Plan 2030.

It sets ambitious targets and outlines specific measures to achieve a more sustainable and resilient city, emphasising the importance of energy efficiency, waste management, green spaces and sustainable transportation to mitigate the impacts of climate change.

Additionally, Circular Prague 2030 focuses on fostering a circular economy within the city. By transitioning to a circular economy model, Prague seeks to reduce resource consumption and promote sustainable production and consumption practices. Our goal is nothing less than to reduce CO2 emissions by 45% by 2030 and achieve carbon neutrality by 2050.

Lucia Legathova, Economic Diplomacy Specialist, City of Prague

Prague counts among the top 10 most affordable cities in the world according to the global audience of respondents in the Brand Finance City Index. How do you strike a balance between promoting perceptions of affordability and quality?

In Prague, we firmly believe that affordability and quality go hand in hand. Visitors and residents alike can immerse themselves in a wide range of affordable and high-quality activities that Prague has to offer.

Prague is a treasure trove of cultural wonders waiting to be explored. Everybody can delve into our rich heritage by visiting world-class museums, historical sites, and iconic landmarks, all at budget-friendly prices.

The city also offers a vibrant arts and entertainment scene, with affordable options ranging from theatre to live music, visual art or cinema. When it comes to dining, Prague caters to diverse tastes and budgets. From cosy cafes to authentic Czech restaurants, people can enjoy our delicious local cuisine without breaking the bank. Nevertheless, nature enthusiasts will find solace in numerous green spaces and parks with many opportunities for relaxation, recreation, and a chance to connect with nature.

About the Author

Brand Finance is the world’s leading independent brand valuation and strategy consultancy. Headquartered in the City of London, we are present in over 20 countries.

For almost 30 years we have helped companies and organisations of all types to connect their brands to the bottom line.

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