Number of corporate resorts down
The number of available places in corporate-run holiday resorts in Hungary is steadily decreasing, according to a report by news portal hvg.hu.
Several large firms such as Magyar Telekom have sold their resort complexes due to changes in taxation, as it is no longer worth operating such centers for companies.
In 2016, some 354 company resorts operated with a combined total of 11,922 places. This fell to 341 in 2017, with 11,727 places, while in 2018 it stood at 343, offering 11,620 places.
The reason for the big drop expected in 2019 is that the tax burden on such services was 40.71% in 2018, but this year this benefit will be taxed as legal income.
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.