Foreign workers’ income in Hungary at record HUF 278 bln

Telco

Photo by Pixabay

The income of foreign workers in Hungary grew 30% to a record HUF 278 billion last year, index.hu says.

Image: Pixabay 

The previous highest amount was HUF 240 bln recorded in 2008, before the economic crisis. The rate stood at around HUF 160 bln for several years and started to increase again after 2015. The rise is driven mostly by the intensified labor shortage, as well as growing wages.

Part of the HUF 278 bln is usually transferred back home by foreigners, but majority is spent in Hungary on living costs. Despite the specific request of MPs, the government have declined to reveal exact figures on the number of foreign workers in Hungary, index.hu says.

ADVERTISEMENT

17% of homeowners plan renovations this year Analysis

17% of homeowners plan renovations this year

Meeting called to address Pegasus spyware lacks quorum  Parliament

Meeting called to address Pegasus spyware lacks quorum 

Skanska commercial dev unit names new EVP of operations Hung... Appointments

Skanska commercial dev unit names new EVP of operations Hung...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

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.