Statistics on Economic Development
The current forecast for the country’s GDP growth for 2014 and 2015 is +2.1%. The growth of Hungary’s GDP in the second quarter of 2014 was as much as 3.9 percent, which constitutes the highest increase within the EU28 countries.
Hungary is a member of the European Union, which has a significant positive effect on the country’s economic connections and therefore its economic development. There are a large number of multinational companies present in Hungary and it should be noted that half of the country’s GDP is generated in Central Hungary, close to Budapest Airport.
Statistics on Hungary’s economyHeadquarters of companies
There are a large number of international business entities in Hungary, which have their regional headquarters based in the country (including Nokia, Unilever, Bosch, Kimberley-Clark, and Telenor) or established factories within Hungary (including Samsung, Philips, Flextronics, Audi, Opel, Mercedes Benz, and Suzuki). Around 50 companies are operating a shared service centre here, employing 25,000 employees; these include ExxonMobil, IBM, Sykes, GE, Morgan Stanley, Diageo, Avis Europe, Lexmark and Celanese. All the above mentioned are underpinning the fact that 30% of passengers at Budapest Airport state Business Travel as the reason for their trip.Meetings and conference market
HHungary is a key destination for incentive, meeting and conference travel – and a genuine rival to the traditional business venues of Europe. Budapest is the 16th most preferred destination for conferences and meetings worldwide, ahead of Brussels, London and Prague according to the International Congress and Convention Association.