Slovakia sees record foreign labor and shifting business trends

Slovakia is experiencing significant shifts in its labor and business landscape. As of August 2026, the country employs a record 147,100 foreign workers, with over 65,000 originating from non-EU nations. Due to domestic labor shortages, companies are increasingly turning to specialized agencies to recruit from third countries, with the Philippines emerging as a primary source. Despite strict visa regimes and higher costs, Filipino workers have become the fourth largest non-EU labor source after Ukraine, India, and Serbia.

Simultaneously, the Slovak business sector shows diverging trends between sole traders and corporate entities. Data from FinStat indicates a sharp decline in self-employment, with approximately 46,790 trades terminated by August 11, 2026—a net loss of 26,135 compared to new registrations. Conversely, there is a surge in new company formations, including joint-stock companies and limited liability companies (s.r.o.). New business registrations have increased by roughly 40% compared to the previous year, with significant growth observed in the services and information technology sectors.