Foreign-owned Companies Generate Over Half of E-tail Turnover
Photo by Zilu8 / Shutterstock.com
Foreign-owned companies accounted for around 55% of retail online and mail-order turnover in Hungary last year, data from the Central Statistical Office (KSH) show.
The some 300 foreign-owned companies, a fraction of the close to 5,700 webshops and mail-order businesses operating in Hungary, generated turnover of HUF 810 bln from total sales of HUF 1.5 tln.
KSH noted that 155 of those companies had no base in Hungary but still brought in over HUF 164 bln from local sales.
Turnover of foreign-owned online and mail-order businesses averaged HUF 2.7 bln, while revenue of their Hungarian-owned peers averaged just HUF 125 mln.
Watchdog Fines OTP Bank for Regulatory Shortfalls
Gov't Launches HUF 150 bln Job Placement Scheme for Over-30s
Biggeorge Adds 2 New Directors to Top Management
Tastin' France 2024 Wine Event Coming in June
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
