Location

Slovakia has a strategic location in the geographical center of Europe. With it's population of 5,5 million, it covers 49,035 sq. km and is bordered by Hungary, Poland, Austria, the Czech Republic and Ukraine.

Bratislava, the nation's capital and largest city(population of approx. 500 000) is located on the banks of the Danube River.

Vienna International airport is only 40 km from Bratislava, giving excellent air connections to all of Europe as well as other continents. There are also low cost airlines flying to Bratislava International airport.

The central and northern part of the country is mountainous, with lowlands in the south. The Tatra Mountains in the north are a popular tourism and winter sport destination with many ski resorts, scenic lakes, valleys, caves and waterfalls. Slovakia is also renowned for its health spas.

History

Slavic people have occupied the Slovak lands since the 5th century. From the 11th until the early 20th century, present-day Slovakia was under Hungarian rule, either directly or as a part of the Austro-Hungarian Empire.

The end of WWI saw the collapse of the Austro-Hungarian Empire and the creation of a number of small nation states, including Czechoslovakia where the Slovaks joined the closely related Czechs.

After World War II, Czechoslovakia became a Communist nation within the Soviet-ruled Eastern block. Soviet influence collapsed and political freedom was reborn in 1989.

The Slovaks and the Czechs agreed to separate peacefully and on 1 January 1993 Czechoslovakia divided into two independent countries, the Slovak Republic and the Czech Republic. The two states are distinct in their cultures and languages, although the Slovak and Czech languages are
mutually comprehensible.

Slovakia is a full NATO and EU member.

Economy

Slovakia has mastered the transition from a centrally planned economy to a modern market economy. Most major privatizations are complete, the banking sector is almost completely in foreign hands, foreign direct investment (FDI) has increased dramatically.

The current government has made excellent progress in boosting economic growth and initiating a radical and aggressive reform process. The budget and current account deficits have been successfully reduced and the GDP growth rate is the highest in the region.

The creation of an investor-friendly business environment brought a significant inflow of FDI, exports are expanding steadily and private domestic demand is solid. The employment numbers have been rising steadily since 2001.

The currency is the Slovak koruna (crown) (SKK). It is forecast to gradually appreciate against the euro.