Mar 18, 2024

“Prague Yearly Pass is Twice Cheaper Today than 10 Years Ago”, Says Economist

Lukáš Kovanda, Chief Economist at Trinity Bank, has recently highlighted the affordability of public transportation in Prague.

A recent study commissioned by the Prague City Council revealed that an annual public transport pass, adjusted for inflation and distance traveled since 2000, should cost approximately 11,250 CZK.

However, the current price has been 3,650 CZK since 2015.

This translates to a significant decrease in real terms, with residents essentially paying half the price for public transport compared to just a decade ago.

“Prague residents are now traveling for roughly twice as cheaply as they did in 2014,” commented Mr. Kovanda. “This forward-thinking approach by the city administration deserves recognition. In a world facing inflation, Prague has ensured affordable and efficient travel for its residents.”

The coalition parties that form the city government have not yet agreed on how much fares should be raised, but several possibilities are being discussed.

One of the proposals on the table is doubling the price of the annual public transport pass, which currently costs CZK 3,650, working out at CZK 10 per day, one of the cheapest in the world.

Deputy Mayor for Transport Zdeněk Hřib from the Pirate Party told Deník N he did not agree with the proposal, saying he wanted public transport to remain affordable for the residents of Prague.

Before 2020, passenger fares covered roughly 21 percent of the transport company’s costs, while now it is only around 15 percent, with Prague covering the remaining 85 percent from its spending budget.

In most other countries the share is closer to 50-50.

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