Assessing a Region's Economic Level Using the Regional Economic Development Risk Indicator

Assessing the differences between regions within a single country is important not only from the macro-economic perspective, but also in the light of entrepreneurial activities being implemented or intended in a region. Managerial decisions as to whether conditions suit a particular business activity are based on assessments of corporate resources as well as analyses of the environment with respect to future developments. There are a number of indicators whose values are detected by statistical offices at the regional and national level; however, when assessing a region, one must consider the indicators in mutual relations rather than separately. The Regional Economic Development Risk Indicator is synthetic in that it involves not only selected economic criteria, but also social and, to a limited extent, environmental aspects. Its use is presented by a case study which focuses on an assessment of the Hradec Kralove Region.