Course: Cross Cultural Management
Term: Winter 2006/07
Lecturer: Mag. Sabine Pata
Date: October 5th, 2006
Title of the paper: Doing business with Hungary
A great place to live and work
The quality of life that Hungary offers to foreign investors and employees residing in Budapest and throughout the country is an important factor when businesses consider locating here.
Experts working in Hungary for extended periods have so far not been disappointed. They have found living in Hungary pleasant and Budapest exciting and less expensive than other major European capitals. Moreover, the country boasts a rich and internationally recognised culture, distinctive cuisine, superb wines, a centuries-old spa tradition, excellent schools, and numerous leisure activities and facilities.
With its millennium-old culture and awe-inspiring technological legacy, it is no wonder world business makes Hungary its central European home.
Hungary’s attractiveness as an investment location and thus the volume of foreign direct investments into Hungary has been significantly enhanced by the accession to the EU which also resulted in the increasing volume of profit reinvestments within FDI (Foreign Direct Investment). Even after privatisation had practically come to an end in Hungary, FDI inflows show a balanced confidence of foreign investors in the country’s business environment and in good returns on investment. Hungary is one of the most attractive places in the Central and Eastern European region for upgraded and high-value added investments.
Benefits of EU Membership
Hungary became a member of the European Union on the 1st May ...