The Czech Republic is the ninth most advanced economy in the European Union. Sweden ranks first, followed by Germany and Denmark. This is according to the first pillar of the new Prosperity Index focused on the economy, compiled by analysts at Česká spořitelna and Europe in Data. The Czech Republic can achieve a better ranking by investing in changing the structure of the economy, innovation, and education. David Navrátil, chief economist at Česká spořitelna, added that the Czech Republic's strongest points include economic complexity (ranked 2nd) or the investment-to-GDP ratio (ranked 3rd). On the other hand, weaker results are in terms of the share of national income in domestic product or the level of value added of the economy.