Investing in a foreign country is a big step for any US business. If your company is ready to take on the international market, consider investing in Hungary.
Located in Central Europe, Hungary is a strategic location for trade with both Western and Eastern Europe. As one of the fastest growing economies of the European Union, Hungary has a lot to offer US investors. Creativity, entrepreneurship, a sound education system and strong work ethics are the most important characteristics of Hungarian businesses.
Currently, these five Hungarian economic sectors are the hottest on the international investment market.
Agriculture and Food
Hungary has a strong agriculture sector with a long and productive history. Today, traditional wisdom paired with high-tech IT solutions make the sector one of the most competitive on the international market. Great quality soil, GMO-free organic produce, a favorable climate, excellent water reserves, and skilled workers characterize the agriculture industry in Hungary.
If you’re interested in the sector, look through this database for an investment project suitable for your circumstances.
Real Estate and Tourism
Throughout the last decade, tourism has been a steadily growing sector in Hungary. Due to its great location, high amount of thermal waters, and excellent geothermal capacities, Hungary is the fifth strongest health and medical destination in the world. This creates a high demand for wellness spas and quality luxury hotels.
Budapest is an increasingly popular city-break destination in Europe, and the Hungarian countryside has strong a potential in wellness tourism as well. Investing in property (whether for touristic or other purposes) has a high return in Hungary. Click here for a list of currently available projects.
The renewable energy market in Hungary has excellent conditions for international investment. The sector is expected to grow because of government commitment to sustainable development and energy efficiency. Substantial government financing provides the sector with steady growth, advantageous implementation expenditures, and a competitive investment environment.
The sector has big potential within the EU as well. Because of its strategic location and proven innovation capacities, Hungary is the perfect starting point for US investments in the European renewable sector. Browse the database of ongoing projects here.
The Hungarian market has extremely favorable conditions for US investments in manufacturing. Because of its strategic location, excellent transport infrastructure and access to main trade routes, Hungary is the best location for supplying both Eastern and Western Europe. Corporate tax rate is the lowest in the EU (9%), while wages are only 40% of the EU average. The industrial property market is highly developed and modernized, with moderate energy prices.
With strong support from local and national governments, both in terms of legislation and grants, any investment in manufacturing in Hungary is bound to be a success for your business. Here’s a list of active investment projects.
Research and Development
Hungary is known for its fondness for innovation. Excellent education paired with high-tech research centers produce great results in various areas, including biology, chemistry, physics, engineering and clinical medicine. Hungarian research institutes frequently participate in countless global research projects. A close cooperation between academia and companies produces tangible and valuable results for businesses.
How to Invest?
Once you’ve chosen your project and settled all the details, it’s time to transfer your investment. Whatever the amount, consider sending it through Veem.
We understand that investing is a big step for your business and we want to help you by offering our fast, secure, and efficient multi-rail technology developed for international transfers. With Veem, both sender and recipient know the details of the payment: amount, scheduling, and fees. Veem offers highly competitive foreign exchange rates, and since we’re cutting out the middlemen, there’s no additional fees. Let Veem take the hassle of international transfers off your shoulders.