The Business Environment in Hungary

If you're looking for a place to do business in Europe, look no further than Hungary. Not only does it have a skilled workforce and an economy that's growing fast, but it also has the added benefit of being relatively affordable compared to other major European countries. It's easy to see why more and more companies are choosing Hungary as their headquarters or second office location:

The service sector is a major part of Hungary's economy, accounting for
more than 70% of GDP. The IT sector is especially important and is
second only to financial services in terms of its contribution to
GDP.

The IT industry employs around 250,000 people in Hungary (around 10% of the workforce) and has been growing at an average rate of 20% per year since 2010. It accounts for almost half of all new jobs created during this period.

There are many multinational companies operating in this field: IBM, SAP SE and Microsoft have their European headquarters here; Oracle has an R&D center; Hitachi Data Systems operates a software development center; NTT Data Corporation has several offices throughout the country; Accenture employs over 5,000 people across its Hungarian offices - just some examples among many others!

Hungary is one of the most internationalized countries in Europe, with 12% of its GDP coming from exports and over 70% of the workforce fluent in foreign languages. It's also a member of the European Union, which means that there are many opportunities for business owners to expand their companies into other markets.

The Hungarian economy is predominantly service-based, especially its strong IT sector (second only to financial services), but agriculture remains an important part of life: about half of all land is used for farming purposes.

This means that companies have an advantage when it comes to hiring globally experienced employees who aren't afraid to travel for their job. They also have the opportunity to recruit from abroad, which can be a great way for businesses to find new talent and improve their global reach.

In addition, employees can be hired through legal channels without having to worry about visa issues. The Hungarian government has made it easy for foreigners to work in Hungary by introducing a new residency program that allows them to live and work in the country without first obtaining a work permit. This makes Hungary one of the most internationalized countries in Europe and provides an attractive environment for businesses looking for talented workers who don't need any special permission before starting their jobs.

Budapest is the perfect city for working remotely

Budapest is a great place to live, work and visit. There are many reasons why Budapest is such an attractive city for entrepreneurs. The city has a population of 1.7 million people (the eighth largest in the European Union), with approximately 80% of them being Hungarian speakers.

This means that you will find people who speak your language when doing business in Hungary, which can help you get around easier and understand their culture better than if you were visiting another country where they don't speak your language as well as Hungarians do theirs!

Budapest also offers excellent facilities for doing business including high-speed internet access throughout most parts of the city; good transportation systems including buses, trams and trains; modern offices available at reasonable prices; tax breaks available through various government programs such as those offered through Enterprise Zones or Investment Incentives Programs like StartUp Loan Programmes (STLP).

Conclusion

We hope that you've enjoyed this brief introduction to the business environment in Hungary. It's a country with so much to offer and we're excited to see what the future holds!