ADVERTISEMENT

Report: R&D activity improves in Hungary

Recycling

Research and development activities in Hungary increased to 1.41% of GDP in 2013, following a stagnation of 1% from 2000-2009, Deloitte professional servicesʼs ISPIM innovation management organization said today at a conference in Budapest.

By the end of 2010 some 13,853 innovations were recorded in the country while, by the end of 2013 this number had grown to 19,130.

Analysts noted that if R&D activity continues to grow at the same pace, it could reach 1.8% of GDP by the end of 2020. Deloitte noted that average R&D in the European Union is 3%.


The report also revealed that in Hungary, large enterprises spend the most on research and development, however, the state supported R&D by only 20%. The results of R&D projects are not entirely visible in Hungary.


“In Hungary, R&D growth to GDP is only due to the increased R&D expenditure of businesses in the period of 2010-2013,” said Dr. Csaba Márkus management consultant at Deloitte.  

ADVERTISEMENT

IMF raises Hungary 2021 GDP growth forecast to 7.6% Analysis

IMF raises Hungary 2021 GDP growth forecast to 7.6%

Parliament approves amendment to Competition Act Parliament

Parliament approves amendment to Competition Act

New CEO announced at Codic Hungary Appointments

New CEO announced at Codic Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

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.