As a member of the European Union, Hungary offers access to a market of 250 million people within a 1000km radius, while the EU common market more than 500 million people.
Hungary is situated in the heart of Europe, which makes the country optimal for manufacturing, services and logistics. Hungary is the ideal base for investors who are planning business developments, including those coming from distant countries and wishing to seize European markets.
Key reasons to invest in Hungary:
Ideal geographical position in the centre of Europe for manufacturing, services and logistics
Excellent infrastructure, ready-made industrial sites, offices and science parks
Good balance of labour costs and quality
Governmental incentives (cash subsidy, tax allowance)
Investment friendly economic policy
Competitive tax system
High quality labour pool
Foreign capital is, in a large part, attracted by the highly skilled and highly educated labour force, particularly in the engineering, IT, pharmaceutical, economics, mathematics, physics and professional services sectors. Around two-thirds of the workforce in Hungary has completed a secondary, technical or vocational education.
The average wages in Hungary are ca. 60% less than the average of the EU 27, which makes the Hungarian workforce highly competitive. High English proficiency (90% of students speak English) and high number of working hours/year make Hungarians a highly efficient workforce.
Most important aims of the Hungarian economic policy:
Financial and fiscal stability
Boosting the growth potential of the Hungarian economy
Increasing the level of labour market participation and employment
Reducing public debt