Cost of living

Slovakia flagCost of living in Slovak Republic

The standard of living in the Slovak Republic is comparable to other eastern and central European countries, which is typically lower than western European countries. Students going for placement in the Slovak Republic should visit the following websites to get an idea of what the prices for everyday items are:

Money and banking

The Slovak Republic joined the single European currency on the 1st of January 2009, adopting the Euro at a rate of 30.1260 Slovak Koruna to one Euro.

The Slovak Republic has many commercial, mortgage and investment banks. If you are going to work in the Slovak Republic, you may need to open a local bank account, so that your salary can be paid into it. All major credit cards are accepted but personal cheques are not acceptable. Opening a bank account is easy; you will need to show a form of photo identification (normally a student ID card and/or a valid Passport) along with proof of address.

Nine of the ten biggest banks in the Slovak Republic are owned by large foreign banks, which could be of benefit for companies thinking of investing in Slovakia; as companies that already have a business relationship with one of these parent banks may find it easier to open accounts at local Slovak banks and arrange financing.

Travelling costs

For placements in any of the big cities, transportation should not be a problem. Slovak public transportation is efficient, clean and punctual and is the easiest and fastest mode of transportation in the capital and country at large. There are various student discounts available on production of a valid student card, including the International Student Identity Card (ISIC).

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