Hungary PESTLE Insights - A Macroeconomic Outlook Report

Hungary PESTLE Insights - A Macroeconomic Outlook Report

Summary

Mining, manufacturing and utilities contributed 24.7% to the gross value added (GVA) in 2022, followed by financial intermediation, real estate and business activities (23.2%), and other services (19.5%). In nominal terms, the three sectors are forecast to grow by 9.7%, 9.9% and 9.5%, respectively, in 2023.

Central Hungary (including the sub-regions of Budapest and Pest) and Lowland and north Hungary generated around 74.2% of Hungarian GDP (2020) and comprised 69.9% of the country’s population, in 2021.

The BUX Index exhibited a volatile trend over past year. As of January 24, 2023, the Index stood at 46,856.2, compared to 51,325.3 on January 24, 2022.

Scope

• In June 2022, the European Union announced to invest EUR5.4 billion ($5.5 billion) to support sustainable, safe, and efficient transport infrastructure in Hungary.

• 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.