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Hungary: facts
and figures
Key factors of
competitiveness
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
Hungary
Land: 93,030 km²
Population: ~10 million
GDP/capita,
at PPP (2012):
EUR 16,700/
USD 21,456
Source: Eurostat, IMF
Overview
EU
•
EU-member since 2004
GDP
•
•
GDP growth (2013Q3): 1,7%
Forecast (2013): 0.9%; (2014): 2%
Export of
goods and
services
•
•
Export volume growth (2012): 1.7%
Forecast (2013): 4.5%; (2014): 5.8%
Employment
and wages
•
•
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)
Inflation
Budget balance
Source: HCSO, Draft Budget 2014
*Exchange rate: 1 €= 289.42 HUF, 1 $=225,37
Economy and Economic Policy
Nominal GDP in Hungary
million EUR
110 000
105 000
100 000
95 000
90 000
85 000
80 000
2008
Source: Eurostat
2009
2010
2011
2012
Nominal GDP in Hungary
million USD
160 000
155 000
150 000
145 000
140 000
135 000
130 000
125 000
120 000
115 000
110 000
2003
2004
2005
2006
2007
Source: Eurostat
1055 BUDAPEST, HONVÉD UTCA 20. TELEFON: (+36) 1 872 6699 FAX: (+36) 1 872 6699
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Gross Value Added by sectors in Hungary
(2012)
Financial and
insurance
activities
4%
Education
5%
Others
20%
Manufacturing
23%
Wholesale and
retail trade,
repair of motor
vehicles and
motorcycles
10%
Agriculture,
forestry and
fishing
5%
Professional,
scientific and
technical Information
activities
and
5%
communicationTransportation
and storage
5%
6%
Source: Hungarian Central Statistical Office
Public
administration
and defence,
compulsory
social security
8%
Real estate
activities*
9%
International trade of Hungary
Year
Import
(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
Source: Hungarian Central Statistical Office
International trade of Hungary
Year
Import
(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
Source: Hungarian Central Statistical Office
Geographical distribution of Hungarian trade
(2012)
EXPORT
IMPORT
29.12%
70.88%
Intra EU28
Extra EU28
EU-28
0.06%2.06%
7.63%
EU-15
7.27%
10.98%
41.49%
New EU members
(2004+2007+2013)
Extra - EU-28
countries of Europe
Asia
30.51%
Africa
Source: Hungarian Central Statistical Office
America
22.45%
77.55%
0.87 2.08
3.61 % %
%
5.96
%
13.45
%
30.23
%
43.68
%
Main trade partners of Hungary (2012)
Main Import Partners (2012, Million EUR)
Germany
Main Export Partners (2012, Million EUR)
18 048
Germany
19 990
Russia
6 405
Romania
4 767
Austria
5 163
Slovakia
4 705
China
4 206
Austria
4 598
Slovakia
4 146
Italy
3 721
Poland
3 420
France
3 689
Italy
3 241
United Kingdom
3 322
Netherlands
2 943
Czech Republic
3 102
France
2 647
Poland
3 031
Czech Republic
2 609
Russia
2 553
24,62%
27,93%
Germany
Germany
Russia
Romania
Austria
Slovakia
China
31,21%
Slovakia
Austria
25,72%
Italy
Poland
8,74%
3,56%
Italy
Netherlands
3,61%
7,04%
4,01%
4,42%
4,67%
5,66%
5,74%
Source: Hungarian Central Statistical Office
France
6,13%
France
Czech Republic
Others
United Kingdom
Czech Republic
3,28%
6,05%
3,90%
3,99%
4,27% 4,75% 4,79%
5,91%
Poland
Russia
Others
Growing surplus in balance of trade
Million euro
7 061
8 000
6 655
5 515
6 000
3 738
4 000
2 000
-
-319
-2 000
2008
Source: : Hungarian Central Statistical Office
2009
2010
2011
2012
Balance of trade
Percentage of GDP (2011)
8
6.94
5.02
6
4
2.32
2
0
-1.39
-2
-4
-3.94
-6
-7.13
-8
Hungary
Czech
Republic
Slovak
Republic
Source: IMD, World Competitiveness Online 2012
Slovenia
Poland
Romania
-7.73
Bulgaria
Improving balance of current account
Percentage of GDP
0.2
0.4
1.0
1,0
0,0
-0.2
-1,0
-2,0
-3,0
-4,0
-5,0
-6,0
-7,0
-7.3
-8,0
2008
Source: HCSO
2009
2010
2011
2012
Internationalized, open economy
Trade to GDP ratio (%)
100
90.06
88.55
82.46
82.28
80
67.18
60
44.90
42.14
40
20
0
Hungary
Slovak
Republic
Source: IMD World Competitiveness Online 2012
Slovenia
Czech
Republic
Bulgaria
Poland
Romania
Government budget balance
Percentage of GDP (2012)
0,0
-0,5
-1,0
-1,5
-2,0
-2.0
-2,5
-3,0
-3.0
-3,5
-3.8
-4,0
-3.9
-4,5
Hungary
Source: Eurostat
Romania
Slovenia
Poland
-4.4
Czech
Republic
-4.5
Slovakia
Export of goods
Percentage of GDP (2000-2011)
90
80
70
60
Hungary
Czech Republic
50
Poland
40
Romania
Slovak Republic
30
Slovenia
20
10
0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Source: IMD World Competitiveness Online 2012
Export of commercial services
Percentage of GDP (2000-2011)
16
14
12
Hungary
10
Czech Republic
Poland
8
Romania
6
Slovak Republic
Slovenia
4
2
0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Source: IMD World Competitiveness Online 2012
Medium term economic outlook
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
-
-
Source: Draft Budget 2014
Hungarian Economic Policy
2013
Short overview of aims and achievements
Most important aims of the
Hungarian 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
Achievements
• 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.
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
Job protection action plan
Contribution allowances up to a certain level of wage
Type of employees
The contributions
payable by the employer
has been reduced:
The new rate is:
below the age of 25
years
above the age of 55
years
from 28.5%
by 14.5%.
 14%.
unskilled
entrants below the age
of 25 years
long-term unemployed
mothers with small
children
• in the initial two years  0% in the initial two
by 100 %,
years,
• from the third year by  14% from the third
14.5% (nearly halves)
year
FDI in Hungary
Stock of Foreign Direct Investments in Hungary
Million EUR
Repurchase of
MOL shares ;
New methodology
Devaluation of HUF
from 2008
80 000
70 000
60 000
50 000
40 000
30 000
20 000
10 000
0
Source: National Bank of Hungary, 2013
Second highest FDI stock/capita in CEE
EUR (2012)
9834
10 000
7918
7762
8 000
6 000
5718
5191
4537
4 000
2963
2 000
0
Czech Hungary Slovakia Slovenia Bulgaria
Republic
Source: wiiw, 2013
Poland
Romania
Inward FDI stock
Percentage of GDP (2012)
90
80.30
80
67.70
70
57.40
60
45.80
50
42.40
34.10
40
30
20
10
0
Hungary
Czech
Republic
Source: Eurostat, Hungarian National Bank, OECD
Slovak
Republic
Poland
Romania
Slovenia
Stock of FDI in Hungary by origin (2012)
American
countries
11.39%
Asian countries
2.87%
Other regions
0.20%
Europe
85.54%
Source: Hungarian National Bank, 2013
Stock of FDI in Hungary by country of origin
(2012)
Other Countries
21.52%
Germany
24.86%
Belgium
2.12%
United
States
2.46%
Luxembourg
13.60%
United
Kingdom
3.64%
Switzerland
3.79%
France
4.33%
Source: Hungarian National Bank, 2013
Austria
11.55%
Netherlands
12.13%
Stock of FDI in Hungary by sector (2012)
Electricity, gas, stem
and air conditiong
supply
4.05%
Construction Other
1.17%
2.47%
Agriculture,
hunting and
forestry
0.60%
Manufacturing
20.35%
Services
71.35%
Source: Hungarian National Bank, 2013
UNCTAD FDI Contribution Index, 2012
Hungarian economy has the
largest contribution by FDI
therefore achieved the first
position.
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
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
Competitiveness in general
Benefit from a good balance of quality and cost of labour
Take advantage of high-quality infrastructure
and a stable business environment
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%
CEE countries
Corporate income tax
Slovakia
23%
Czech Republic
19%
Poland
19%
Slovenia
17%
Romania
16%
Hungary
10-19%
Source: KPMG, 2013 November
*: effective tax rate
37
0
Source: Eurostat
Norway
Sweden
Denmark
Belgium
Luxembourg
France
Netherlands
Finland
Austria
Germany (until…
Ireland
Italy
United Kingdom
Spain
Cyprus
Greece
Slovenia
Malta
Portugal
Croatia
Estonia
Slovakia
Hungary
Poland
Latvia
Lithuania
Romania
Bulgaria
Competitive Labour Costs
Total hourly labour costs (€)
2012
60
50
40
EU 27
23.4
30
20
7.5
10
7,5
Competitive Labour Costs
Total Hourly Labor Costs 2012
($)
70
60
50
EU 27
30.1
40
30
20
10
0
Source: Eurostat
9.6
Total hourly labour costs in the services
of the business economy, 2012, (€)
45
41.9
40
35
38.9
Hungary
35.9
33.7
Czech Republic
31.6
30
Slovenia
25
21.8
22.2
22.6
23.2
23.7
United Kingdom
European Union (27
countries)
Ireland
20
15
Germany
10
8.3
7.5
7.6
7.8
8
Austria
Sweden
5
0
2008
Source: Eurostat
2009
2010
2011
2012
Total hourly labour costs in the services of
the business economy, 2012, ($)
60
Hungary
54.1
50
49.6
53.8
Czech Republic
47.6
44.1
Slovenia
40
United Kingdom
32.1
30
31.0
30.0
32.3
30.4
20
12.2
10
European Union (27
countries)
Ireland
Germany
10.5
10.1
10.9
10.3
Austria
Sweden
0
2008
Source: Eurostat
2009
2010
2011
2012
Competitive average wages
Gross wages, Industry (€)
2013 June
1600
1435
1400
1200
1000
986
976
960
800
600
400
200
0
Source: wiiw, Eurostat, national statistics
927
891
876
824
710
671
664
535
500
424
383
355
Competitive average wages
Gross wages, Industry ($)
2013 June
2000
1873
1800
1600
1400
1200
1287 1274 1253
1210 1163
1000
800
600
400
200
0
Source: wiiw, Eurostat, national statistics
1143
1075
926
876
867
699
653
554
500
463
High average yearly working hours (2011)
1 950
1 909
1 870
1 900
1 859
1 827
1 850
1 800
1 756
1 750
1 712
1 700
1 650
1 600
Hungary
Slovenia
Source: IMD, World Competitiveness Online 2012
Czech
Republic
Slovak
Republic
Poland
Romania
Labour Productivity
GDP(PPP) per person employed per hour
35,00
30,00
27.63
25,00
20,00
24.56
21.09
28.19
28.66
28.85
25.35
22.07
Bulgaria
Czech Republic
Hungary
Poland
Romania
15,00
10,00
5,00
2004
2005
2006
Source: IMD World Competitiveness 2012
2007
2008
2009
2010
2011
Source: UBS, Wealth Management Research, Prices and Earnings, 2012 September
Sofia
Bucharest
Budapest
Vilnius
Warsaw
Riga
Prague
Bratislava
Talinn
Ljubljana
Athens
Lisbon
Rome
Madrid
Barcelona
Nicosia
lyon
Milan
Dublin
Paris
Amsterdam
Berlin
London
Vienna
Helsinki
Brussels
Stockholm
Frankfurt
Munich
Luxemburg
Oslo
Geneva
Zurich
Gross wage levels in European cities
New York=100 (2012)
140
120
100
80
60
40
20
0
Labor regulations favor business activities
6
5.53
5.28
5.17
5.13
4.58
5
4.26
4
2.47
3
2
1
0
Czech
Republic
Hungary
Slovak
Republic
Source: IMD, World Competitiveness Online 2012
Romania
Poland
Bulgaria
Slovenia
Unemployment legislation provides an
incentive to look work for
6
5.37
5.33
5.13
5
4.29
3.62
4
2.76
3
2.25
2
1
0
Hungary
Czech
Republic
Romania
Source: IMD, World Competitiveness Online 2012
Poland
Bulgaria
Slovak
Republic
Slovenia
Higher education
Well trained, creative and flexible human
capital
Number of institutions in higher education
Number of locations
68
183
•
92.4 % of fresh graduates has
English language skills
Number of students in higher education
360,000
•
Majoring in:
2nd most popular foreign
language: German (70%)
 Business and
Administration
81,923
 Technical edu.
63,388
 Informatics
10,724
 Foreign languages
9,113
•
Followed by: Russian, French,
Italian, Spanish
•
All degrees include foreign-
language certificate and
computer skills
Number of tertiary level graduates
Academic year
2011/2012
55,154
Quality of math and science education in
V4 countries (2013)
Quality of math and science education in V4 countries
(2013)
4,8
4.6
4,6
4,4
4,2
4.1
4
4
3.9
3,8
3,6
3,4
Hungary
Poland
Source: World Economic Forum: Global Competitiveness Report 2013-2014
Czeh Republic
Slovak Republic
University education meets the needs of a
competitive economy
6
5.33
5.10
5.14
5
4.25
4
3.16
2.71
3
2.09
2
1
0
Czech
Republic
Hungary
Poland
Slovenia
Romania
Slovak
Republic
Bulgaria
Source: IMD, World Competitiveness Online 2012
1055 BUDAPEST, HONVÉD UTCA 20. TELEFON: (+36) 1 872 6699 FAX: (+36) 1 872 6699
WWW.HITA.HU
Intellectual property protection in V4
countries (2013)
3,95
3.9
3,9
3,85
3.8
3,8
3,75
3.7
3.7
Slovak Republik
Poland
3,7
3,65
3,6
Hungary
Czeh Republic
Source: World Economic Forum: Global Competitiveness Report 2013-2014
Strong scientific capacity
Country
The quality of scientific
research institutions
The World Economic Forum
ranks Hungary No. 21 within
148 countries
Source: WEF Global Competitiveness Report, 2013-2014
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
70
Utility patents granted/million population
(2013)
25
23.3
20
15.3
15
10
7.3
6.9
Slovak Republik
Poland
5
0
Hungary
Czeh Republic
Source: World Economic Forum: Global Competitiveness Report 2013-2014
Quality of research institutions in V4
countries (2013)
6
5.2
4.9
5
4
4
3.6
3
2
1
0
Hungary
Czeh Republic
Source: World Economic Forum: Global Competitiveness Report 2013-2014
Slovak Republik
Poland
Availability of scientists and engineers in
V4 countries (2013)
4,4
4.3
4,3
4.2
4.2
4,2
4,1
4
3.9
3,9
3,8
3,7
Hungary
Czeh Republic
Source: World Economic Forum: Global Competitiveness Report 2013-2014
Slovak Republik
Poland
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
Warsaw, 10 hrs
Vienna, 1 hr
Rotterdam, 12 hrs
Prague, 5 hrs
Munich, 6 hrs
Hamburg, 8hrs
Kyiv 12 hrs
Bucharest, 10 hrs
Constanza, 12 hrs
Zagreb, 1 hr
Trieste, 6 hrs
Koper, 6 hrs
Road density
km/km2
5
4,5
4
3,5
3
2,5
2
1,5
1
0,5
0
Source: IMD, World Competitiveness Yearbook, 2012
Quality of roads in V4 countries (2011)
4
3.7
4
3.6
3,5
3
2.9
3
2.8
2,5
2.1
2
1,5
1
0,5
0
Hungary
Czech
Republic
Slovakia
Source: The Global Competitiveness Report 2013-2014
Poland
Bulgaria
Serbia
Romania
Czech Republic
Belgium
Luxembourg
Germany
Switzerland
Hungary
Slovak Republic
Netherlands
Poland
France
Slovenia
Austria
Italy
Denmark
Croatia
Romania
Bulgaria
Ukraine
Portugal
Spain
Ireland
Lithuania
Sweden
Greece
Finland
Estonia
Norway
Turkey
Kazakhstan
Russia
Iceland
Density of the railroad network
km/km2
0,14
0,12
0,10
0,08
0,06
0,04
0,02
-
Source: IMD, World Competitiveness Online 2012
Railway network in Hungary
V0 Railway (future development)
International airport
Number of days to start a business
(2012)
32
35
30
25
20
16
15
10
10
5
6
5
0
Source: The Global Competitiveness Report 2013-2014
18
20
Hungary
Slovenia
Romania
Slovakia
Bulgaria
Czech Republic
Poland
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
Lively Office market
„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%
Corvin Offices
Millennium Tower
Business infrastructure in Hungary:
- Top-quality telecommunications services
- Easy access to 3T, xDSL connections
Eiffel Square
Source: CBRE 2013 H1
Ready-made industrial sites
More than 210 industrial parks are available for
manufacturing activity
•
•
•
•
•
•
•
•
•
•
•
•
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
Nyíregyháza, IP
Tatabánya, IP
Developed Industrial Sites
Average indicative prices
by regions 2012
Northern Hungary
18.3
13
Western
Transdanubia
Northern Great
Plain
Central
Hungary
Central
Transdanubia
21.9
19.7
17.5
19.2
Southern
Transdanubia
16.6
29.5
8.8
30.1
Southern Great
Plain
10.7
20.1
16.9
Source:
Hungarian Investment and Trade Agency
10
The land prices depend on the condition of the sites
(eg. utility capacities, location)
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)
Manufacturing halls
Average indicative prices
and rental fees by regions
2012
Northern Hungary
265
3.3
Western
Transdanubia
Northern Great
Plain
Central
Hungary
Central
Transdanubia
309
241
280
397
3.4
4.1
4.0
4.1
Southern
Transdanubia
Southern Great
Plain
285
3.7
222
Source:
Hungarian Investment and Trade Agency
3.3
The hall prices and rental fees depend on
the condition of the sites (eg. utility
capacities, location)
Average prices of
manufacturing halls by
regions
(EUR/m2 + VAT)
Average rental fees of
manufacturing halls by
regions
(EUR/m2/month +VAT)
Industrial rents in industrial zone
Average price per square meter/year, USD (2011)
111.09
120
100
80
65.98
70.83
74.06
74.81
76.43
BULGARIA
CZECH
REPUBLIC
ROMANIA
60
40
20
0
POLAND
HUNGARY
Source: Economist Intelligence Unit Database 2012
SLOVAKIA
Expats like Hungary
• International schools in Budapest
British, American, German, Austrian, French, Chinese, Japanese etc.
• High standard private medical services
• Entertainment facilities
Thermal baths, wellness, recreation centres throughout the country
Rich cultural life
Excellent 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, Mexico
2. Budapest, Hungary, Florence, Italy
4. Salzburg, Austria
5.Charleston, South Carolina, United
States, San Sebastián, Spain
7. Vienna, Austria
8. Rome, Italy
9. Siena, Italy
10. Québec City, Canada, Cape Town,
South Africa, Bruges, Belgium
13. Vancouver, Canada
14. Kyoto, Japan
15.Prague, Czech Republic; Kraków,
Poland
17.Victoria, Canada; Sydney, Australia;
Santa Fe, New Mexico, United States
20.Seville, Spain; Beirut, Lebanon
22.Paris, France; Melbourne, Australia
24.Venice, Italy; Barcelona, Spain
Source: Top 25 Cities in the World, Readers' Choice Awards 2013
Quality of life in Hungary
2-3.
4-5.
4-5.
…
16-19.
16-19.
16-19.
16-19.
…
27-30.
27-30.
31-35.
38-41.
44-48
Malta
France
Monaco
76
75
75
Hungary
Argentina
Norway
Slovenia
72
72
72
72
Poland
Czech Republic
Bulgaria
Slovakia
Romania
70
70
69
67
65
Hungary excels in civil liberties, safety and
health.
Source: International Living, 2011
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your attention!
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information, please
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