Are the Tides Changing for German Companies in Hungary?
File photo shows the March 7, 2023 CEO Breakfast Briefing.
Photo by DUIHK
For decades, German-Hungarian economic relations have thrived, to the benefit of all parties. But a string of recent articles in German, Austrian and Hungarian media have seemed to suggest that, if not over, a sea change is in sight.
A relatively weak Hungarian economy, high inflation, and restricted access to EU funding, with no sign of an end to that particular roadblock, are also not helping. The German-Hungarian Chamber of Industry and Commerce (DUIHK) has, through its research, identified a dichotomy between sectors in Hungary: Some still enjoy state support and subsidies, while others face much tougher restrictions and special taxes.
What do German companies, especially those close to Hungarian customers and market sentiment, think? Is change coming? Is it survivable? Should German investors consider cutting and running, or is it better to tough it out in the hope of a better tomorrow?
On the other hand, are these tensions simply an overreaction amplified by a lack of understanding at the bilateral political level?
These and other areas will be discussed at the DUIHK CEO Breakfast Briefing with the Budapest Business Journal, a moderated discussion with business representatives led by Robin Marshall, editor-in-chief of the Budapest Business Journal. Prior registration is required via the German chamber website; to do so, please click here.
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