As any seasoned traveler knows how essential proper budgeting is in ensuring an enjoyable trip. Carefully calculating projected expenses can help you prepare for adventures better. Also, determining how much things would cost can help save you from getting ripped off.

With this in mind, we’ve put together a handy guide on the prices of food, transport, and lodgings in Prague, so you can budget your trip to the Bohemian capital accordingly. 

Czech Currency: The Koruna

Despite being part of the European Union, the Euro isn’t the official Czech currency and isn’t widely accepted in the country. Instead, people use the Czech Crown or Koruna (Kč or CZK) when paying for goods or services. According to the prevailing exchange rate (as of December 2020), 1 USD is equivalent to 22 Kč.

Quick note: While 1 crown is equivalent to 100 Heller or Haléř coins (hal), these coins haven’t been in use since 2008. They’re still being incorporated into the prices but expect the final price to be rounded off to the nearest value in Koruna.

Public Transport

Buses, Trams, and Trains

Getting around in Prague via the public transport is easy, convenient, and relatively cheap. Public transport tickets, which are valid for trams, buses, and trains, typically cost around 24 CZK for a 30-minute travel and 32 CZK for a 90-minute travel. You can purchase a day pass for 110 CZK, a 3-day pass for 310 CZK, and a one-month pass for 670 CZK.

Short-term tickets can be purchased at the ticket machines while the long-term tickets are sold at the metro stations and at the Prague Transit Central Office.

Tip: If you’re taking the regular bus to the city from the airport, be sure to purchase your tickets beforehand at the ticket machine or the Public Transportation counter. A ticket from these costs around 32 CZK, which is cheaper than a ticket purchased on-board. Purchasing a ticket directly from a driver costs 40 CZK and requires exact change.

Taxis

Taxis in Prague are generally cheaper compared to other European cities, but of course, they’re significantly more expensive than taking the bus. Rates are computed by adding the entry fee, which is around 40 CZK, with the kilometer rate, which is pegged at a maximum of 28 CZK per kilometer.

Quick note: There have been reports of taxi drivers ripping off tourists traveling from the airport to the city by taking the longer, more expensive route. As a rule of thumb, the standard price from the airport to the city center should only be around 700 to 800 CZK. 

Food and Drinks

Meal prices in Prague can vary, depending on where you’re eating, whether at a fast-food chain or at a fine dining restaurant. To have a quick idea of how much food typically costs, let’s use an international food product: Big Mac meal. 

In Prague, a Big Mac with medium fries and drink cost around 150 CZK. That’s also roughly the price of a meal at an inexpensive restaurant. An evening of fine dining for two in a mid-range restaurant in the city center can cost around 800 CZK. A bottle of beer costs around 43 to 50 CZK, while you can get a cup of cappuccino for 56 CZK.

Hotels and Accommodations

Prague has a lot of options for accommodations, but for the best rates, you may need to book early. Shared rooms at hostels can cost around 12 to 20 USD (263 to 439 CZK), while private rooms cost around 40 to 70 USD (877 to 1,535 CZK). 

Rooms in budget hotels located just outside the city can be booked for just around 30 to 50 USD (658 to 1,096 CZK), while those nearer the city center range from 65 to 100 USD (1,425 to 2,193 CZK).

For longer stays or those traveling in a group, apartment rentals are a good option and typically cost around 50 to 120 USD (1,425 to 2,632 CZK).Tip: You can find cheaper options at AirBnB, where the rates can range anywhere from 32 to 64 USD (700 to 1,400 CZK) per night.