Taxi sector recovering from pandemic shock

Transport

LaMography/Moni Lazar

The taxi sector is recovering from the shock caused by the coronavirus epidemic, but is still far from pre-epidemic levels, reports business daily Világgazdaság, citing analysis by Opten.

In 2020, the total sales of taxi companies fell by 40% to the level of a decade ago, and their pre-tax profit virtually bottomed out.

That year, nearly 1,500 self-employed taxi drivers returned their licenses, a drop of nearly 30%.

According to Opten's summary, the companies' sales revenue was around HUF 6 billion in 2020, down from HUF 10.3 bln in 2019.

Their pre-tax profit was HUF 800 million in the year before the epidemic, in 2020 it was only HUF 52.4 mln.

ADVERTISEMENT

Hungary Agricultural Output Value Grows by 6.5% Crops

Hungary Agricultural Output Value Grows by 6.5%

Hungarian-American Business Chamber Established in Chicago Int’l Relations

Hungarian-American Business Chamber Established in Chicago

Number of Registered Jobseekers Down 3% in November HR

Number of Registered Jobseekers Down 3% in November

Mulled Version of Belle-Vue Kriek Makes Debut at Advent Fair Drinks

Mulled Version of Belle-Vue Kriek Makes Debut at Advent Fair

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.