Oct 29 2008
Foreign Direct Investment: Prague Has It Her Own Way
A fun little bit of news out of the beautiful city of Prague today…
The first Burger King (BKC:NYSE) will open in Prague in the next few months. And it’s not only targeting the Czech Repbulic. It wants to become number one in European markets. To do that, it’s already got operations in Poland, Bulgaria and Hungary, and it planning joints in Slovakia and Slovenia.
But it’s got tough competition from McDonald’s (MCD:NYSE), who is top dog right now with 70 restaurants serving 53 million customers. It’s spent more than $172.2 million on restaurants in the Czech Republic.
When I was in Budapest, I grabbed a Whopper for a quick lunch before meeting my guide back at the hotel, Buro Panzio. It cost me 750 Forint, which is about $3.75 or so, and the place was packed. My last night in Budapest, I hit the town with some new friends, and ended up back at BK for a late-night snack. It was still packed, and one young, drunk, teenager was thrown out for misbehaving and bothering the customers.
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