Trade Shows » Country » Hungary » Budapest

Business Overview
Hungary has recently transformed from a centrally planned economy to a market economy and further has maintained a strong economic growth, the proof of which is its entry in European Union in 2004.
Budapest is not just the political center but is also the economic and commercial hub of the country with most of the business activities of Hungary centered in the city. The capital promotes trading opportunities of the country by being host to many international trade fairs & expos like BNV-Budapest International Fair, IFE Hungary & Agro+Mashexpo.

Although, Hungary has always been an agricultural country, but following World War II it became heavily industrialized with most of its industries based in Budapest. The private sector on the other hand accounts for more than 80% of GDP.

Foreign investment in Hungarian business has also been widespread getting nearly one third of all foreign direct investment flowing in to Central Europe.

Nevertheless, inflation and unemployment remain the major problems of the country but economic reform measures such as health care reform, tax reform and local government financing are being addressed by the present government to these problems.

Major Business Centers
Budapest Fair Center (HungExpo Centre):
Budapest fair Cneter if the largest exhibition and conference center of Hungary. Located in District X, the center is host to numerous high profile and international events throughout the year.

Spread on total 36 hectares of land, the venue welcomes visitors and exhibitors on 60,000m2 gross indoor exhibition area and 50,000m2 free area. The Expo center provides a high quality environment and excellent standard together with reliable services for nearly 30 exhibitions and venues a year.

Budapest Stock Exchange:
Initially an unofficial exchange known by the name ‘Budapest Stock Exchange Index (BUX)’ during the phases of transition from a socialist to a market economy, Budapest Stock Exchange is relatively a new stock exchange.

Considered the second best stock exchange in Central/Eastern Europe, the exchange presently contains 20 stocks. It is essential to financial service structure as it represents an alternative financing source to commercial banks for the organizations.

Further, it broadens the scope of investment opportunities for both domestic and foreign investors, regardless of whether they are private or institutional.

Major Commercial Areas
District V:
Home to almost all important businesses, restaurants, cafes, pubs, clubs and most exclusive hotels, District V sure is the beating heart of Budapest’s downtown area. It houses the Parliament Buildings, ministries and main financial district of the city along with a wide array of banks, shops and offices.

The district is located in the absolute center of Pest just south of the Korut and is considered a safe investment district while also providing a good dwelling location for single businessmen.

Slovak (Pest):
The eastern and mostly flat part of Budapest on the banks of Danube, Slovak covers the modern commercial core of the city ranging from Districts IV to IX. Comprising about two thirds of the capital's territory, the region covers most notable parts of the Inner City like Heroes' Square and Andrassy Avenue.

The commercialized region also contains a cosmopolitan mix of shops, bars, restaurants and nightlife.

Major Manufacturing Zones
District X (Kobanya):
Kobanya, literally meaning ‘stone quarry’, is a prime industrial sector of Budapest with total 30km2 of area.

Though mostly occupied by stone quarries, breweries also utilize the deserted quarries running under the surface for several kilometres long. The largest brewery is the Dreher.

The region is largely dependent upon Government help to renovate a district trapped by a history of management miscues.

The coach station located opposite Nepliget serves the district while M2 & M3 metrolines have their terminals here at Ors vezer ter and Kobanya-Kispest metro terminal.