Hungary’s Economy at a Glance
Main Indicators (2016)
- GDP growth: 2%
- Unemployment: 5.1%
- Inflation: 0.4%
- Budget balance: -1.8% of GDP
Hungary’s Investment Climate
- According to the 2017 IBM Global Location Trends report, Hungary ranks among the world’s top ten destinations for foreign investment in two categories:
- Hungary is the 9th biggest investment destination country in the world in terms of job creation per million inhabitants.
- Hungary ranks 5th globally in terms of average job value of investment projects
- Hungary has the most competitive corporate income tax in the European Union with a 9% flat rate.
- Standard & Poor's, Fitch, Moody's and J.C. Rathbone Associates Limited (JCRA) rate Hungary as investment grade with stable outlook.
For more information, visit the website of the Hungarian Investment Promotion Agency (HIPA).
Hungary’s strategic position in the heart of Europe makes it increasingly important as a regional distribution center. Hungary is located at the crossroads of four Trans-European and two ERTMS (European Rail Traffic Management System) corridors, enabling easy access to all parts of the continent.
- Budapest Liszt Ferenc International Airport was named the best airport in Eastern Europe by Skytrax in 2014, 2015, 2016 and 2017.
- Hungary has the third highest road density in Europe.
- Hungary has the third fastest 4G mobile internet in the world (2017, OpenSignal).
Investing in Innovation
To support the technological development of the country, the Hungarian government has introduced a new incentive scheme supporting tech-intensive investments. The government has:
- Modified its taxation and incentive system related to R&D activities to make Hungary the innovation hub of Central and Eastern Europe.
- Implemented the first Digital National Development Program in the CEE region.
- Introduced a unique economic development plan based on Industry 4.0 requirements.
For more information, visit the website of the Hungarian Government.