Hungary: facts and figures
Key factors of competitiveness
Hungary
Land: 93,030 km²Population: ~10 million
GDP/capita, at PPP (2012): EUR 16,700/ USD 21,456
Source: Eurostat, IMF
Location: a market of 507 million EU citizens
with access to the market of 205 million people of Russia,
Ukraine and the Western Balkan countries
Overview
EU
GDP
Export of goods and services
Employment and wages
Inflation
• EU-member since 2004
• GDP growth (2013Q3): 1,7%• Forecast (2013): 0.9%; (2014): 2%
• Export volume growth (2012): 1.7% • Forecast (2013): 4.5%; (2014): 5.8%
• Average gross wage (2012)*: €770.5; $989.8• Unemployment rate (June-Sept 2013): 9.8%
• Inflation rate (Sept 2013): 1.4%• Forecast (2013): 1.9%
• Government balance (2012): -1.9%• Forecast (2013) : -2.7% (% of GDP)
*Exchange rate: 1 €= 289.42 HUF, 1 $=225,37 Source: HCSO, Draft Budget 2014
Budget balance
Economy and Economic Policy
Source: Eurostat
Nominal GDP in Hungary million EUR
2008 2009 2010 2011 2012 80,000
85,000
90,000
95,000
100,000
105,000
110,000
1055 BUDAPEST, HONVÉD UTCA 20. TELEFON: (+36) 1 872 6699 FAX: (+36) 1 872 6699 WWW.HITA.HU
Source: Eurostat
Nominal GDP in Hungary million USD
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 110,000
115,000
120,000
125,000
130,000
135,000
140,000
145,000
150,000
155,000
160,000
Source: Hungarian Central Statistical Office
Gross Value Added by sectors in Hungary (2012)
Manufactur-ing23%
Wholesale and retail
trade, repair of motor vehicles
and motor-cycles10%Real estate activities*
9%Public administration and
defence, compulsory social security
8%Transportation and storage
6%
Information and com-
munication5%
Professional, scientific and technical ac-
tivities5%
Agriculture, forestry and
fishing5%
Education5%
Financial and insurance activities
4%
Others20%
Source: Hungarian Central Statistical Office
YearImport
(Million €)Export
(Million €)Total Trade
(Million €)Trade Balance
(Million €)
2008 73,699.71
73,380.29
147,080.01 -319.42
2009 55,401.18
59,139.32
114,540.50 3,738.14
2010 65,933.67
71,448.82
137,382.49 5,515.16
2011 72,916.88
79,977.57
152,894.45 7,060.70
2012 73,297.49
79,952.02
153,249.52 6,654.53
International trade of Hungary
Source: Hungarian Central Statistical Office
YearImport
(Million $)Export
(Million $)Total Trade
(Million $)Trade Balance
(Million $)
2008 108,820.32 108,233.10 217,053.41 -587.22
2009 77,273.44 82,572.17 159,845.61 5,298.73
2010 87,434.15 94,749.27 182,183.42 7,315.12
2011 101,375.45 111,217.66 212,593.11 9,842.21
2012 94,307.66 102,830.36 197,138.02 8,522.70
International trade of Hungary
Source: Hungarian Central Statistical Office
Geographical distribution of Hungarian trade (2012)
70.88%
29.12%
Intra EU-28Extra EU-28 77.55%
22.45%
43.68%
30.23%
13.45%
5.96%
3.61%0.87%2.08%
IMPORT EXPORT
41.49%
30.51%
10.98%
7.27%
7.63%0.06% 2.06% EU-28
EU-15
New EU members (2004+2007+2013)
Extra - EU-28 coun-tries of Europe
Asia
Africa
America
Source: Hungarian Central Statistical Office
Main trade partners of Hungary (2012)
Main Import Partners (2012, Million EUR)
Germany 18 048
Russia 6 405
Austria 5 163
China 4 206
Slovakia 4 146
Poland 3 420
Italy 3 241
Netherlands 2 943
France 2 647
Czech Republic 2 609
Main Export Partners (2012, Million EUR)
Germany 19 990
Romania 4 767
Slovakia 4 705
Austria 4 598
Italy 3 721
France 3 689
United Kingdom 3 322
Czech Republic 3 102
Poland 3 031
Russia 2 553
24.62%
8.74%
7.04%
5.74%5.66%4.67%
4.42%4.01%
3.61%
3.56%
27.93%
Germany
Russia
Austria
China
Slovakia
Poland
Italy
Netherlands
France
Czech Republic
Others
25.72%
6.13%
6.05%
5.91%4.79%4.75%4.27%
3.99%
3.90%
3.28%
31.21%
Germany
Romania
Slovakia
Austria
Italy
France
United Kingdom
Czech Republic
Poland
Russia
Others
Growing surplus in balance of trade
Source: : Hungarian Central Statistical Office
Million euro
2008 2009 2010 2011 2012-2,000
-
2,000
4,000
6,000
8,000
-319
3,738
5,515
7,061 6,655
Balance of trade
Source: IMD, World Competitiveness Online 2012
Percentage of GDP (2011)
Hungary Czech Republic
Slovak Republic
Slovenia Poland Romania Bulgaria-8
-6
-4
-2
0
2
4
6
86.94
5.02
2.32
-1.39
-3.94
-7.13-7.73
Improving balance of current account
Source: HCSO
Percentage of GDP
2008 2009 2010 2011 2012-8.0
-7.0
-6.0
-5.0
-4.0
-3.0
-2.0
-1.0
0.0
1.0
-7.3
-0.2
0.2 0.41.0
Trade to GDP ratio (%)
Source: IMD World Competitiveness Online 2012
Hungary Slovak Republic
Slovenia Czech Republic
Bulgaria Poland Romania0
20
40
60
80
100 90.06 88.5582.46 82.28
67.18
44.90 42.14
Internationalized, open economy
Percentage of GDP (2012)
Source: Eurostat
Government budget balance
Hungary Romania Slovenia Poland Czech Republic
Slovakia-4.5
-4.0
-3.5
-3.0
-2.5
-2.0
-1.5
-1.0
-0.5
0.0
-2.0
-3.0
-3.8 -3.9
-4.4 -4.5
Percentage of GDP (2000-2011)
Source: IMD World Competitiveness Online 2012
Export of goods
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 20110
10
20
30
40
50
60
70
80
90
HungaryCzech RepublicPolandRomaniaSlovak RepublicSlovenia
Source: IMD World Competitiveness Online 2012
Percentage of GDP (2000-2011)
Export of commercial services
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 20110
2
4
6
8
10
12
14
16
HungaryCzech RepublicPolandRomaniaSlovak RepublicSlovenia
Medium term economic outlook
Source: Draft Budget 2014
Forecast of main economic indicators
2012 2013 2014 2015 2016
GDP growth (%) -1.7 0.9 2.0 2.3 2.5
Inflation (%) 5.7 1.9 2.4 3.0 3.0
Current account balance (% of GDP)
1.6 3.2 3.3 3.1 2.9
Export growth (%) 1.7 4.5 5.8 6.1 6.1
Budget balance (% of GDP) -2.7 -2.7 -2.9 -2.6 -2.4
Government debt (% of GDP) 79.2 77.4 76.9 - -
Short overview of aims and achievements
Hungarian Economic Policy2013
Most important aims of theHungarian economic policy
• Securing financial and fiscal stability: introducing strict fiscal policy• Public debt target: 50%. • Budget deficit target: < 3%. • Inflation target of the Central Bank of Hungary: 3%
• Turning welfare state into an economy based on productive labour, by increasing the level of employment
• Improving business environment • Promoting foreign and domestic private investments
• Financial consolidation• Since 2011 Q3, the external debt has decreased by some 18.7% of
GDP.• The budget deficit has been succesfully kept below 3% of GDP
from 2012• 2013: excessive deficit procedure (EDP) has been abrogated by
the EU• Inflation rate is record low: 0,9% in October 2013, and the yearly
rate is expected to be 1.9% for 2013 and 2.4% for 2014
• Labour market tendencies• Employment reached a historic peak, it has been rising steadily
since 2010 S2• In the period June-August 2013, employment raised by 1.7%
Achievements
• Tax system– Gradual move from income taxes based system to a consumption
taxes based one– 16% flat-rate personal income tax – A corporate tax rate of 10% applies to tax base up to HUF 500
million
• Business environment– More than 30 strategic cooperation agreements between the
Government and companies
• Structural reforms– Ongoing and concluded reforms of the pension system, public
transport, higher education, state and municipal financing etc.
Achievements
The New Labor Code
• Main purpose: to create a labor law system which is in line with new
market conditions
• More flexibility: parties have more freedom to negotiate
• Employment, established for a definite period can also be
terminated by (ordinary) notice
• Extra work (overtime): 250 hours / year, in collective agreement:
300 hours / year
• Atipical forms of employment
Job protection action plan
• The government has launched a new action plan to improve the situation
of
• disadvantaged employees (elderly, young and unskilled people)
• jobseekers
• enterprises
• Main measure:
• cutting employer’s contributions
Type of employeesThe contributions
payable by the employer has been reduced:
The new rate is:
below the age of 25 years
from 28.5% by 14.5%.
14%. above the age of 55 years
unskilled
entrants below the age of 25 years • in the initial two years
by 100 %,
• from the third year by 14.5% (nearly halves)
0% in the initial two years,
14% from the third year
long-term unemployed
mothers with small children
Job protection action plan Contribution allowances up to a certain level of wage
FDI in Hungary
Million EUR
New methodology from 2008
Source: National Bank of Hungary, 2013
Repurchase of MOL shares ;
Devaluation of HUF
Stock of Foreign Direct Investments in Hungary
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
EUR (2012)
Source: wiiw, 2013
Second highest FDI stock/capita in CEE
Czech Republic
Hungary Slovakia Slovenia Bulgaria Poland Romania0
2,000
4,000
6,000
8,000
10,000
9834
7918 7762
57185191
4537
2963
Percentage of GDP (2012)
Source: Eurostat, Hungarian National Bank, OECD
Inward FDI stock
Hungary Czech Republic
Slovak Republic
Poland Romania Slovenia0
10
20
30
40
50
60
70
80
90 80.30
67.70
57.40
45.8042.40
34.10
Stock of FDI in Hungary by origin (2012)
Source: Hungarian National Bank, 2013
Europe85.54%
American countries11.39%
Asian countries2.87%
Other regions0.20%
Stock of FDI in Hungary by country of origin (2012)
Source: Hungarian National Bank, 2013
Germany24.86%
Luxembourg13.60%
Netherlands12.13%Austria
11.55%
France4.33%
Switzer-land
3.79%
United Kingdom3.64%
United States2.46%
Belgium 2.12%
Other Countries21.52%
Stock of FDI in Hungary by sector (2012)
Source: Hungarian National Bank, 2013
Services71.35%
Manufacturing20.35%
Electric-ity, gas,
stem and air condi-tiong supply4.05%
Construction1.17%
Agriculture, hunting and forestry0.60%
Other2.47%
Rank Region/Economy
1 HUNGARY
2 Belgium
3 Czech Republic
4 Romania
5 Hong Kong, China
6 Poland
7 Malaysia
8 Estonia
9 Bolivia
10 Colombia
11 Switzerland
12 Sweden
13 Singapore
14 Finland
15 United Kingdom
Hungarian economy has the largest contribution by FDI therefore achieved the first
position.
UNCTAD FDI Contribution Index, 2012
Main investment decisions in 2013
• Coloplast, medical devices manufacturing• OPEL, engine manufacturing • ZF Lenksysteme, electric steering systems• Infineon: semiconductor components producing • Hankook, tyre manufacturing• Hewlett-Packard, IT• Sauflon, contact lens manufacturing• Samsung: electronics manufacturing• Procter & Gamble, personal care products manufacturing• General Electric, establishment of an oil & gas branch• Greif, shared service center• Bridgestone, tyre manufacturing• Jabil, electronics manufacturing• Thai President Foods, instant noodle manufacturing• Systemax, shared service center• Bosch, R&D facility• Flextronics: electronics manufacturing• DHL: Express logistics
Benefit from a good balance of quality and cost of labour
Take advantage of high-quality infrastructure and a stable business environment
Competitiveness in general
Competitive tax system
• Low corporate income tax: • rate for the first HUF 500 million (EUR 1.69 million, USD 2.22 million) of
the tax base is 10%; • beyond HUF 500 million, it is 19%.
• Tax incentives and allowances (development tax allowance, R+D tax incentives)
• Flat personal income tax: 16%
37
Source: KPMG, 2013 November *: effective tax rate
CEE countries Corporate income tax
Slovakia 23%
Czech Republic 19%
Poland 19%
Slovenia 17%
Romania 16%
Hungary 10-19%
Competitive Labour Costs
Source: Eurostat
Norway
Denm
ark
Luxem
bourg
Nether
lands
Austria
Irela
nd
United K
ingdom
Cypru
s
Slove
nia
Portugal
Estonia
Hungary
Latvi
a
Roman
ia0
10
20
30
40
50
60
7.5
Total hourly labour costs (€)2012
HUNGARY 7.5
EU 27 23.4
Competitive Labour Costs
Source: Eurostat
Norway
Sweden
Denmark
Belgiu
m
Luxembourg
France
Netherla
nds
Finla
nd
Austria
Germ
any
Irela
ndIta
ly
United K
ingdom
Spain
Cyprus
Gre
ece
Slovenia
Malta
Portugal
Croatia
Estonia
Slovakia
Hungary
Poland
Latvia
Lithuania
Romania
Bulgaria
0
10
20
30
40
50
60
70
Total Hourly Labor Costs 2012 ($)
EU 27 30.1
HUNGARY 9.6
Total hourly labour costs in the services of the business economy, 2012, (€)
Source: Eurostat
2008 2009 2010 2011 20120
5
10
15
20
25
30
35
40
45
8.3 7.5 7.6 7.8 8
21.8 22.2 22.6 23.2 23.7
33.731.6
35.9
38.9
41.9
Hungary
Czech Republic
Slovenia
United Kingdom
European Union (27 countries)
Ireland
Germany
Austria
Sweden
Total hourly labour costs in the services of the business economy, 2012, ($)
Source: Eurostat
2008 2009 2010 2011 20120
10
20
30
40
50
60
12.2 10.5 10.1 10.9 10.3
32.1 31.0 30.032.3
30.4
49.6
44.147.6
54.1 53.8
HungaryCzech RepublicSloveniaUnited KingdomEuropean Union (27 coun-tries)IrelandGermany AustriaSweden
Competitive average wages
Source: wiiw, Eurostat, national statistics
Slove
nia
Czech
Republic
Estonia
Croatia
Poland
Slova
kia
Monte
negro
Hungary
Latvia
Lithuania
Kazakh
stan
Serbia
Romania
Mace
donia
Bulgaria
Ukrain
e0
200
400
600
800
1000
1200
1400
16001435
986 976 960 927 891 876 824710 671 664
535 500424 383 355
Gross wages, Industry (€) 2013 June
Competitive average wages
Source: wiiw, Eurostat, national statistics
Slove
nia
Czech
Repu...
Estonia
Croatia
Poland
Slova
kia
Monte
negro
Hungary
Latvia
Lithuania
Kazakh
stan
Serbia
Romania
Mace
donia
Bulgaria
Ukrain
e0
200
400
600
800
1000
1200
1400
1600
1800
2000 1873
1287 1274 1253 1210 1163 11431075
926 876 867
699 653554 500 463
Gross wages, Industry ($) 2013 June
High average yearly working hours (2011)
Source: IMD, World Competitiveness Online 2012
Hungary Slovenia Czech Republic
Slovak Republic
Poland Romania1,600
1,650
1,700
1,750
1,800
1,850
1,900
1,950 1,909
1,870 1,859
1,827
1,756
1,712
Labour Productivity GDP(PPP) per person employed per hour
Source: IMD World Competitiveness 2012
2004 2005 2006 2007 2008 2009 2010 2011 -
5.00
10.00
15.00
20.00
25.00
30.00
35.00
21.09 22.0724.56 25.35
27.63 28.19 28.66 28.85
BulgariaCzech RepublicHungaryPolandRomania
Gross wage levels in European cities
Source: UBS, Wealth Management Research, Prices and Earnings, 2012 September
New York=100 (2012)
Zurich Oslo
Mun
ich
Stock
holm
Helsin
ki
Lond
on
Amste
rdam
Dublin
lyon
Barce
lona
Rome
Athen
s
Talin
n
Pragu
e
War
saw
Budap
est
Sofia
0
20
40
60
80
100
120
140
Labor regulations favor business activities
Source: IMD, World Competitiveness Online 2012
Czech Republic
Hungary Slovak Republic
Romania Poland Bulgaria Slovenia0
1
2
3
4
5
6 5.535.28 5.17 5.13
4.584.26
2.47
Unemployment legislation provides an incentive to look work for
Source: IMD, World Competitiveness Online 2012
Hungary Czech Republic
Romania Poland Bulgaria Slovak Republic
Slovenia0
1
2
3
4
5
6 5.37 5.33 5.13
4.29
3.62
2.762.25
Higher education
Number of institutions in higher education 68
Number of locations 183
Number of students in higher education 360,000
Majoring in:
Business and Administration81,923
Technical edu. 63,388
Informatics10,724
Foreign languages 9,113
Number of tertiary level graduates 55,154
• 92.4 % of fresh graduates has
English language skills
• 2nd most popular foreign
language: German (70%)
• Followed by: Russian, French,
Italian, Spanish
• All degrees include foreign-
language certificate and
computer skills
Academic year 2011/2012
Well trained, creative and flexible human capital
Quality of math and science education in V4 countries (2013)
Source: World Economic Forum: Global Competitiveness Report 2013-2014
Hungary Poland Czeh Republic Slovak Republic3.4
3.6
3.8
4
4.2
4.4
4.6
4.8
4.6
4.1
4
3.9
Quality of math and science education in V4 countries (2013)
1055 BUDAPEST, HONVÉD UTCA 20. TELEFON: (+36) 1 872 6699 FAX: (+36) 1 872 6699 WWW.HITA.HU
University education meets the needs of a competitive economy
Source: IMD, World Competitiveness Online 2012
Czech Republic
Hungary Poland Slovenia Romania Slovak Republic
Bulgaria0
1
2
3
4
5
6 5.335.14 5.10
4.25
3.162.71
2.09
Intellectual property protection in V4 countries (2013)
Source: World Economic Forum: Global Competitiveness Report 2013-2014
Hungary Czeh Republic Slovak Republik Poland3.6
3.65
3.7
3.75
3.8
3.85
3.9
3.95
3.9
3.8
3.7 3.7
Strong scientific capacity
The quality of scientific research institutions
The World Economic Forum ranks Hungary No. 21 within 148 countries
Country Ranking
Israel 1
Switzerland 2
United Kingdom 3
Germany 6
Japan 9
Ireland 14
Hungary 21
Austria 23
Spain 36
Italy 40
China 41
Poland 55
Romania 64
Slovak Republik 70Source: WEF Global Competitiveness Report, 2013-2014
Utility patents granted/million population (2013)
Source: World Economic Forum: Global Competitiveness Report 2013-2014
Hungary Czeh Republic Slovak Republik Poland0
5
10
15
20
2523.3
15.3
7.3 6.9
Quality of research institutions in V4 countries (2013)
Source: World Economic Forum: Global Competitiveness Report 2013-2014
Hungary Czeh Republic Slovak Republik Poland0
1
2
3
4
5
6
5.24.9
4
3.6
Availability of scientists and engineers in V4 countries (2013)
Source: World Economic Forum: Global Competitiveness Report 2013-2014
Hungary Czeh Republic Slovak Republik Poland3.7
3.8
3.9
4
4.1
4.2
4.3
4.4
4.3
4.2 4.2
3.9
Competitiveness in general
Excellent access to key markets
At the cross roads of 4 main European
transportation corridors
Extensive road and railway transportation
network
Highly developed logistics and
telecommunications infrastructure
Expanding motorway network
Vienna, 1 hrRotterdam, 12 hrs
Prague, 5 hrsMunich, 6 hrsHamburg, 8hrs
Warsaw, 10 hrs
Kyiv 12 hrs
Zagreb, 1 hr Trieste, 6 hrsKoper, 6 hrs
Bucharest, 10 hrsConstanza, 12 hrs
Nethe
rland
s
Belgi
um
Hunga
ry
Slove
nia
Germ
any
Switzer
land
Unite
d Kin
gdom
Denm
ark
Czech
Rep
ublic
Italy
Sweden
Franc
e
Irela
nd
Spain
Austri
a
Estoni
a
Lith
uani
a
Portu
gal
Greec
e
Slova
k Rep
ublic
Croat
ia
Ukrai
ne
Finla
nd
Bulga
ria0
0.5
1
1.5
2
2.5
3
3.5
4
4.5
5
Road densitykm/km2
Source: IMD, World Competitiveness Yearbook, 2012
Quality of roads in V4 countries (2011)
Hungary Czech Republic
Slovakia Poland Bulgaria Serbia Romania0
0.5
1
1.5
2
2.5
3
3.5
4
43.7 3.6
3 2.9 2.8
2.1
Source: The Global Competitiveness Report 2013-2014
Czech
Republic
Luxem
bourg
Switzerla
nd
Slova
k Republic
Poland
Slove
niaIta
ly
Croatia
Bulgaria
Portugal
Irela
nd
Sweden
Finla
nd
Norway
Kazakh
stan
Icela
nd -
0.02
0.04
0.06
0.08
0.10
0.12
0.14
Density of the railroad networkkm/km2
Source: IMD, World Competitiveness Online 2012
Railway network in Hungary
V0 Railway (future development)
International airport
Number of days to start a business (2012)
Hunga
ry
Slove
nia
Roman
ia
Slova
kia
Bulga
ria
Czech
Rep
ublic
Polan
d0
5
10
15
20
25
30
35
5 6
10
1618
20
32
No. days to start a business
Source: The Global Competitiveness Report 2013-2014
Key reasons to invest in the Hungarian Shared Service Sector
• Ca. 80 exisiting SSCs operating in Hungary• Investment friendly political measures (financial support, tax allowances)• Competitive taxation system• Good balance of costs and quality• High level of educational system• Close cooperation between educational institutions and companies• Excellent office infrastructure • Quality of life • 21 International schools• Favourable location: NY -6 hrs, Tokyo +7 hrs
„A” class offices
Stock in Budapest (2013 H1): 3,164,000 m2
Average rental price (headline rents) :Budapest
EUR 10-13/m2/month (non-central submarkets) EUR 12-15/m2/month (central submarkets) EUR 7-10/m2/month (periphery)
Vacancy rate in Budapest in 2013 H1: 19.9%
Business infrastructure in Hungary: - Top-quality telecommunications services- Easy access to 3T, xDSL connections
Corvin Offices
Millennium Tower
Eiffel Square
Lively Office market
Source: CBRE 2013 H1
Ready-made industrial sites
• Green- and brownfield investments• Good access to highways• Excellent infrastructure services• Turnkey solutions• New technology and logistical parks• Warehousing• Customs arrangements• Forwarding• Administration (authority permits)• Financial services• Legal consulting• Extra services
More than 210 industrial parks are available for manufacturing activity
Nyíregyháza, IP
Tatabánya, IP
Average indicative prices by regions 2012
Southern Great Plain
Northern Great Plain
Northern Hungary
Central Transdanubia
Source: Hungarian Investment and Trade Agency
The land prices depend on the condition of the sites (eg. utility capacities, location)
Developed Industrial Sites
18.3
13
16.6
8.8
10.7
20.1
19.7
19.2
Average land prices in the industrial parks by regions (EUR/m2 + VAT)
Average land prices in industrial or other development sites (out of parks)(EUR/m2 +VAT)
29.5
30.1
16.9
10
21.9
17.5
Central HungaryWestern
Transdanubia
Southern Transdanubia
Average indicative prices and rental fees by regions
2012
Southern Great Plain
Northern Great Plain
Northern Hungary
Central Transdanubia
Source: Hungarian Investment and Trade Agency
The hall prices and rental fees depend on the condition of the sites (eg. utility capacities, location)
Manufacturing halls
265
3.3
280
3.4
285
3.7
Average prices of manufacturing halls by regions (EUR/m2 + VAT)
Average rental fees of manufacturing halls by regions(EUR/m2/month +VAT)
Central HungaryWestern
Transdanubia
Southern Transdanubia
397
4.1309
4.0241
4.1
222
3.3
Industrial rents in industrial zone
Source: Economist Intelligence Unit Database 2012
Average price per square meter/year, USD (2011)
POLAND HUNGARY BULGARIA CZECH REPUBLIC
ROMANIA SLOVAKIA0
20
40
60
80
100
120
65.9870.83
74.06 74.81 76.43
111.09
Expats like Hungary
• International schools in BudapestBritish, American, German, Austrian, French, Chinese, Japanese etc.
• High standard private medical services
• Entertainment facilitiesThermal baths, wellness, recreation centres throughout the countryRich cultural lifeExcellent food and wine
• According to Condé Nast Traveler readers Budapest is the second best city on earth
Budapest is the second best city in the World
According to Condé Nast Traveler readers Budapest is the second best city on earth
1. San Miguel de Allende, Mexico2. Budapest, Hungary, Florence, Italy4. Salzburg, Austria5.Charleston, South Carolina, United States, San Sebastián, Spain7. Vienna, Austria8. Rome, Italy9. Siena, Italy10. Québec City, Canada, Cape Town, South Africa, Bruges, Belgium13. Vancouver, Canada14. Kyoto, Japan15.Prague, Czech Republic; Kraków, Poland17.Victoria, Canada; Sydney, Australia; Santa Fe, New Mexico, United States20.Seville, Spain; Beirut, Lebanon22.Paris, France; Melbourne, Australia24.Venice, Italy; Barcelona, Spain
Source: Top 25 Cities in the World, Readers' Choice Awards 2013
Quality of life in Hungary
Hungary excels in civil liberties, safety and health.
Source: International Living, 2011
2-3. Malta 764-5. France 754-5. Monaco 75…16-19. Hungary 7216-19. Argentina 7216-19. Norway 7216-19. Slovenia 72…27-30. Poland 7027-30. Czech Republic 7031-35. Bulgaria 6938-41. Slovakia 6744-48 Romania 65
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