2024: A Year of Successful Investment Stimulation
Hungary’s Economy Sees Second Most Successful Year in Investment Stimulation
Last year marked a significant milestone for the Hungarian economy, with Minister of Foreign Affairs and Trade Péter Szijjártó announcing that it was the second most successful year in terms of investment stimulation. A total of HUF 4,000 billion (EUR 9.6 billion) in new investments poured into Hungary based on agreements concluded in 2024.
Despite facing threats and crises in recent years, Hungary managed to attract a substantial amount of investment, positioning itself as a competitive player in the global market. Szijjártó highlighted the importance of attracting advanced technology investments, noting that countries that excel in this area will emerge as winners in the new era of the world economy.
In a strategic move, Hungary signed agreements with seventy-seven companies for new investments, totaling HUF 4,000 billion. Surprisingly, the majority of these investments came from Hungarian companies, showcasing the effectiveness of Hungary’s economic neutrality strategy. The country’s ability to attract investments from diverse regions, including China, South Korea, Japan, Germany, the US, and Switzerland, demonstrates its appeal to global investors.
The automotive and electronics sectors remain key drivers of investment, with the food industry making significant advancements. High value-added projects focused on business service centers, IT investments, and research and development activities have also been agreed upon, signaling a shift in the Hungarian economy.
Additionally, efforts to balance development across Hungary have led to rapid growth in various regions, such as Borsod-Abaúj-Zemplén and Komárom-Esztergom. The government’s commitment to boosting regional development is evident through recent investments in counties like Baranya.
Overall, Hungary’s success in attracting investments and fostering economic growth reaffirms its position as a competitive player in the global market. As the country continues to prioritize technological advancements and strategic investments, it is poised to further strengthen its economy and create new opportunities for growth and innovation.
