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Sharing services on rise among Hungary’s youth

Car and apartment sharing services are gaining popularity across the globe and that is equally true in Hungary, with young people looking for financially responsible solutions, according to research by KSH bank.

Bike sharing schemes are typically being embraced by Hungaryʼs youth.

Instead of buying, the new generation of Hungarians are increasingly turning to sharing services. One such service is the so-called apartment exchange, when two people swap apartments with each other for an agreed period of time.

Currently, there are 368 apartments offered for exchange in Hungary, according to a press release sent to the Budapest Business Journal. More than 260 out of the total are found in Budapest. 

For travelling, people are increasingly keen on using the public bike rental schemes such as MOL-BuBi in Budapest. Ride sharing, so-called “tele-car” services are also gaining recognition. “Tele-car” services let members of the ride sharing community look for people travelling to the desired destination online by selecting the date of the travel. Naturally, the cost of the trip is shared between the driver and the user. 

“The financially conscious youth is aware of these solutions, and they do use them,” says Nóra Horváth Magyary, K&H Bank’s communications director and president of the judges panel of the bank’s “Ready, Steady, Money!” competition  

The bank says it is trying to show these modern solutions to the future generations via its competition. “Our task is to react to the world that surrounds them, to show them these opportunities, in knowledge of which they will be able to make clever decisions,” she adds.

K&H first organized the “Ready, Steady, Money!” competition in 2010, with the mission of enlightening elementary school students about finance and money management.