The assembly line of Skoda Auto, part of the Volkswagen Group, at Mlada Boleslav, Czech Republic. Photo by Nataliya Hora / Shutterstock.com

The country has regularly ranked among the best destination for manufacturers seeking to locate their operations since 2016, when it was included in the study for the first time.

As was the case last year, the Czech Republic is the best-performing country in Europe in terms of the baseline rating, which ascribes the same weight to operating conditions and the country’s cost competitiveness.

It is the only European country in the global top five, ranking alongside premier manufacturing destinations such as China, the United States and India, which took the first three positions both last and this year, Cushman and Wakefield says.

Elsewhere in emerging Europe, Lithuania, Poland, Hungary, Romania and Bulgaria all make the global top 20. The study notes that strong foreign direct investment into the Czech Republic’s manufacturing sector has made it possible to develop a modern infrastructure network with strong links to Germany, Emerging-europe.com notes.