Hungary - Macroeconomic Outlook Report

Hungary - Macroeconomic Outlook Report

Summary

Financial intermediation, real estate, and business activities contributed 24.4% to the gross value added (GVA) in 2023, followed by mining, manufacturing, and utilities, (23.9%) and wholesale, retail and hotels (13.7%). In nominal terms, the three sectors are forecast to grow by 6.9%, 6.7%, and 6.9%, respectively, in 2024.

Budapest generated around 47.9% of Hungarian GDP (2023) and comprised 31.6% of the country’s population, in 2023, according to GlobalData’s cities database

The BUX Index exhibited a volatile trend over past year. As of January 9, 2024, the index stood at 61,374.1, compared to 45,832.5 on January 9, 2023.

Scope

In August 2023, Hungary's Ministry of Construction and Transport introduced a 10-year railway development plan. It focuses on modernizing the rail network, including upgrading Budapest's HÉV lines, improving intercity connections, and enhancing county routes in collaboration with Volán.

Reasons to Buy

Macroeconomic Outlook Report identifies the potentials of the country as an investment destination by analyzing the political, economic, social, technological, legal and environmental (PESTLE) structure.
PESTLE Insights provides 360 degree view of the economy which can be used as a strategic tool to understand the market dynamics, business potentials and direction of operations
Along with providing the country’s snapshot, the report captures the risk factors pertaining to the macroeconomic risks, political environment, legal environment, demographic and social structure effectiveness, technology & infrastructure and natural and geographic aspects that might impact business.
This report also highlights key clusters/cities which contribute significantly to the country GDP and population along with major companies’ presence in these areas.