Measuring Railway Market Attractiveness: Evidence from Visegrad Countries

This paper analyses the liberalization procedure of the passenger and freight railway transport market in the Visegrad states. The paper applies macro and micro environment analysis to demonstrate the situation of these post-communist countries and introduces the regulatory impact on the railway market supply while concentrating on intra-modal competition. The aim of the paper is to highlight how railway liberalization has changed the shrinking railway market in order to define a strategic policy intervention, with the express purpose of increasing the competitiveness of railway transport and solving efficiency problems. The paper introduces the rate of railway market attractiveness (RAMATE rate) in order to compare the attractiveness of the different railway markets of the European Union for new entrants and the degree of deregulation.