Economy
In terms of economic performance and levels of income, the Prešov region lags behind the rest of the country and at present contributes only nine percent to the country’s overall gross domestic product (GDP), the lowest of all the country’s eight regions. Although the regional GDP is increasing, it is still lower than the EU average.
The most important economic sphere in the region, with the largest number of businesses, is that of trade and commerce. The major industries in the region are mostly processing industries, especially food production based on agriculture, clothing, textiles, woodprocessing and machines, as well as the electrotechnical, chemical and pharmaceutical industries. Approximately 34% of the economically active population work in industry. Given the great tourist potential of the region, however, there is still a lack of good quality accommodation and catering services here.
In the region it is small and medium-sized businesses which are most dominant. Businesses with fewer than 50 employees make up more than 95 % of all businesses, those with more than 250 employees represent less than 1 %. The most economically developed parts of the region are the districts of Poprad, Prešov and Humenné, while the least developed are the peripheral border districts of Medzilaborce, Svidník and Stropkov, as well as the district of Levoča.
The following companies are among the most prominent in the region: Chemosvit Svit, Tatravagónka Poprad, Mecom Humenné, Bukóza Vranov, Elcom Prešov and Stroptel Stropkov.
The major foreign investors in the Prešov region are from South Africa, Austria, Italy, France, Cyprus, Finland, Luxembourg, Belgium, Holland, the USA and Germany. Despite their presence, however, foreign investment here remains below-average with the region having long been in last place in Slovakia in terms of such investment. At present the region is mostly attractive to investors in cheap assembly production.
The Prešov region has a number of positive features for potential investors. These include:
- a long tradition of industrial production,
- more than three quarters of the population with some kind of technical education,
- cheap labour in comparison to the rest of Slovakia,
- excellent conditions for cooperation with the neighbouring countries, Poland and Ukraine,
- a good business environment for incoming firms,
- industrial estates for investors.
In terms of further economic development of the region, the following industrial estates, some already open, others still in the process of being built, will doubtless play a key role: Poprad – Matejovce, Kežmarok, Lipany - Za traťou, Sabinov, Prešov – Grófske, Prešov – Záborské, Prešov - Haniska pri Prešove, Prešov – Petrovany, Bardejov – východ, Humenné and Snina.
The Prešov region is also home to large mineral reserves, notably rock salt, limestone, building stone, brick-making materials, zeolite and manganese ore.
