After the historic political changes of 1989-90, Hungary’s business environment is now close to maturity. With GDP growth reaching 2.9% and 7.5% year-on-year industrial growth in 2015, the economy has weathered the global recession and it is one the most dynamic economies in Central Europe.
Over the last 25 years, scores of international companies have based their manufacturing and service operations, and in some cases, European HQs and R&D centres in Hungary, bringing in more than € 84 billion in FDI.
Forty-five of the world’s 80 largest multinationals, and many of their SME suppliers, have established a long-term presence in Hungary, benefiting from the advantageous location, a safe legal environment, an advanced business infrastructure and a committed labour force. Indeed, Hungary is a bustling business hub situated right at the very heart of Europe; physically and in historical, geographical, cultural and economic terms, all destinations are within easy reach.
As a full European Union member, businesses settling here join the EU market of more than 500 million people. Hungary’s geography is a natural gift, one that Hungarians have learnt to use well through their indomitable resourcefulness, flexibility and creativity. The country offers tangible investment benefits to all businesses: SMEs wishing to get closer to multinational buyers; global firms seeking safe, reliable operational and distribution centres or shared services facilities; high-tech enterprises looking to outsource clinical research, software development or other R&D activities; and manufacturers that require access to the markets of Eastern and Southeast Europe.