Report: R&D activity improves in Hungary

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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.

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