Situated in the heart of Europe, Hungary is one of the region’s leading FDI economies.
Hungary boasts a superb strategic location and excellent business infrastructure -Budapest, Hungary’s picturesque capital, is fast becoming one of central Europe’s foremost financial hubs. Most FDI is invested in the services sector, primarily in finance, telecommunications and retail.An export-oriented economy, Hungary’s chief trade partners include Germany, Austria, France and Italy.
A member of the EU since 2004, Hungary retains its own currency, the forint. There are many reasons to consider investing in Hungary. The country offers investors a diverse economy (the 14th most diverse in the world, according to the Economic Diversity Index) and a skilled, multilingual workforce.
The service sector contributes around 64% of Hungary’s GDP. Around 150,000 Hungarians are employed in tourism. Budapest alone welcomes around 3 and a half million visitors annually. Industry – dominated by mining, machine manufacturing and steel production –accounts for around 31% of GDP. Other important sectors include food processing, electronics and textiles. In addition, the country enjoys a reputation as a favoured destination for car manufacturers, with Mercedes, General Motors and Audi all establishing factories here in recent years.
HLB Hungary serves clients that typically include successful businesses that have proven themselves on the international market.
Latest insights, case studies and news from across the network
Brexit: What the UK-EU trade and cooperation agreement means for businesses
After nine months of negotiations, the UK and the EU have reached the UK-EU Trade and Co-operation Agreement. So what does the new relationship with the UK’s biggest trading partner...
The tax implications of the US elections, COVID and Brexit
In HLB’s International Tax Webinar eps 17, our international tax experts will discuss the 2021 tax implications.
Are you Brexit ready?
We look into some of the most important things to consider and prepare for as a UK business owner affected by Brexit.
Get in touch
Whatever your question our global team will point you in the right directionStart the conversation