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Hungary, your bridge to Europe
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    »   Home    »   Economic sectors in focus
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Economic sectors in focus

The Hungarian economy following the change of regime has undergone a rapid structural transformation, as a result of which its industry and industrial structure can be described as developed.  Hungary has several industrial sectors which can face the challange on an international level. Foreign investments have played an important role in this, which have targeted Hungary in particular among the other countries in the region, and for a long period Hungary was regarded as by far the most promising location. The country remains ahead in terms of high-tech and high value-added production and services. Several industrial sectors are particularly favored by investors. In the following we shall give a brief picture of these. 

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ICT - promising cooperation opportunities


Hungary has a great tradition in the sciences and industry that prepared the ground for today's IT sector. Hungarian names traditionally have an excellent reputation in the technology sector: there is hardly any professional, who deals seriously with the topic, who has not heard of János Neumann.

Electronics - unlimited possibilities


For foreign companies the Hungarian electronics industry and the production of electronic parts and subassemblies has for years presented one of the best investment opportunities in Hungary. This also applies to Chinese companies: in the recent past Hisense has begun producing color televisions in Hungary for European markets.

Automobile industry - 102 years after the manufacture of the first Hungarian car


The automobile industry has significantly contributed to the success of the Hungarian shift in politics. In the past seventeen years, the Hungarian automobile industry has attracted multinational giants such as Audi, General Motors and Suzuki.

Logistics – at the centre of crossroads


Hungary lies at the crossroads where East, West, North and South meet and is therefore an ideal location for logistics centres. Between 2007 and 2013 some EUR 3.5 billion (HUF 850 billion) is allocated to logistics development. One of the aims to is strengthen Hungary's central role for transferring goods that have arrived in the EU from Asia.

Regional service centres


More and more foreign companies are recognizing that it is worth operating their regional centre from Budapest or another Hungarian city. Such service centres are established in Hungary for many reasons and in many spheres of activity. Experiences show that the reasons include both the consolidation considerations of the parent company and budget savings.

Bio-technology


Hungary can be proud of the most developed pharmaceutical industry of the new EU member states. The country is also destined to this kind of success by tradition. It was for example, a Hungarian, Albert Szent-György who discovered vitamin C for which he received the Nobel Prize in 1937.  The extremely successful pharmaceutical and R&D activity in Hungary provides a suitable basis for the launch of biotechnology, a relatively new scientific field.
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Did you know that by 2010

  • the government will spend 1.4% of the budget on R&D development and plans to increase this to 1.8% by 2013?
  • for every one million people 24 will have a patent registered by the European Patent Office, and this number is expected to rise to 28 by 2013?
  • early GDP-proportional risk capital investments will represent 0.005 per cent and 0.006 per cent by 2013?
  • new R&D innovation products will make up 5 percent of total trade and will reach 6 per cent by 2013?
  • the R&D expenditure of companies will make up 45% of total expenditure, and by 2013 this could reach 50%?
  • the proportion of fresh graduates with scientific and technical degree will be 5.5 per cent and will reach 6 per cent by 2013?
  • the R&D spending of companies will make up 0.63 per cent of GDP, and will reach 0.9 per cent by 2013?
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R&Đ, innovation - worth building on the Hungarian intellect

Hungary has always been ahead in research, development and innovation. This is a tradition of several centuries in Hungary. It is sufficient to support this claim with several examples from the past, such as that of János Neumann, whose research results made way for the computer, Tivadar Puskás, and the creation of the telephone exchange, John Kemény and the development of the BASIC programming language or Ernő Rubik and the world-famous Rubik's cube.

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