Do you know which country in the European continent is called as European Tiger Economy?
It is the country of Slovakia, one of the landlocked countries located in the central part of the European continent.
The official name of the country is The Slovak Republic or Slovenskia Republica. Being a part of the erstwhile Czechoslovakia, the country bifurcated into two separate nations – Slovakia and the Czech Republic – on 1st January 1993, through a means of peaceful transition.
Demographically, being a land-locked country, Slovakia shares its borders with both Czech Republic as well as Austria in the West, Ukraine in the East, Hungary in the South and Poland in the Northern side.
The capital city of the country is Bratislava, and as is the case with all the countries in the world, the largest city in the country is none other than Bratislava. The official language spoken in the country is Slovak. The majority of the total population or about 86% are Slovaks with the other major group being the Hungarians.
Slovakia is one of the major tourism destinations for many people in the European continent. The snow-clad mountains and the natural scenic beauty are the major attractions in the country.
Since becoming new countries with their own constitutions and governments to rule, the two countries, within a period of a little over 15 years, have made rapid strides in their economic prosperity and recognized as developed countries. As such, these two newly formed and fast developed countries jointly great the privilege of being called the European Tiger Economies.
Slovakia enacted a new constitution for itself on first day of becoming an independent nation – on 1st January 1993, and adopted the system of Parliamentary Democracy as the mode of Governance. The country has enrolled itself as a member in a number of international organizations including the North Atlantic Organization or the NATO, the United Nations, the World Trade Organization and the Organization for Economic Co-operation and Development or OECD.
Following the footsteps of the counterpart which also become an independent country – Czech Republic, Slovakia embraced privatization as the goal and almost all the sectors in the country are in private hands – including the banks and the telecommunications. It is one of the fastest growing countries in the world, having recorded higher GDP growth consistently for more years.
The country joined the European Union in the year 2004 and also adopted the single currency of the Euro since the 1st of January 2009 – a remarkable feat for a new country to get enrolled in the EU and get single currency of Euro within 5 years. Czech Republic, though member of the EU, is yet to fix the date for adopting single currency of Euro in that country.