Hungarian CEOs concerned about labor shortage


The availability of key skills is a challenge according to most of the CEOs in Hungary, consulting company PwC said yesterday, based on a survey it conducted in Q4 2017.

Among challenges, changing workforce demographics was mentioned by 76% and increasing employee benefits by 73% of the 165 CEOs interviewed. "The percentage of CEOs saying they would like to increase their staff numbers has been over 50% for years now," said Anita Mekler, tax partner at PwC Hungary, cited by national news agency MTI.

Around 89% of CEOs are confident that their companyʼs revenue will grow in the next 12 months, 55% predicted the Hungarian economy will keep growing and 47% said that the global economy would expand. The outlook for CEOsʼ own companies and Hungary has not changed, while their opinion of the global economy improved from a year ago.

Nearly half of Hungarian CEOs picked Germany as their most important foreign market, followed by Romania, the United States and Slovakia. "For Hungarian companies, Germany has traditionally been the most important target for market growth. Romania now ranks as the second most important country with regard to Hungarian companiesʼ local growth prospects. In addition to geographical proximity, the key drivers here are easier networking among the Hungarian minority, and a market twice the size of the Hungarian market," said economist László Urbán.

During a separate public event on Thursday, the German-Hungarian Chamber of Commerce (DUIHK) chairman Dale A. Martin said the chamberʼs survey shows the shortage of laborers trained in vocations in Hungary has not eased since last year. National Economy Minister Mihály Varga said the government aims to increase the number of apprenticeship positions at businesses by 40% by 2022.

Alteo Revenue Down 26% in Q1 Green Energy

Alteo Revenue Down 26% in Q1

Gov't to Call HUF 75 bln Tender to Support Innovation by SME... Government

Gov't to Call HUF 75 bln Tender to Support Innovation by SME...

Gen Z Bringing New Challenges to Office Market Office Market

Gen Z Bringing New Challenges to Office Market

Consumer Protection Forces Website Changes on Viagogo Tourism

Consumer Protection Forces Website Changes on Viagogo


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.