HOA to publish results of 2nd COVID survey in business services, outsourcing sector

Analysis

The Hungarian Service & Outsourcing Association (HOA), the number one domestic professional organization in the business services and outsourcing sector, has been conducting a research among its members since the summer of 2020 to examine the impact of COVID-19 on the industry and how to respond to the current situation and what plans they have to deal with the consequences.

Business services and outsourcing are an emerging industry that makes up a significant part of the economy, yet do not have a proper position in the economic environment and government decision-making so far. It was 2% of GDP in 2018, a figure that could already reach 4.9 % by 2020. The centers employ 60,000 people. These numbers are similarly high in the countries of the region, which is a major force for further growth.

In Hungary, HOA is the number one professional organization in this sector. Its members include most Hungarian and international large companies and SMEs engaged in outsourcing or business services, a total of 106. HOA, as an unavoidable professional association in the sector, represents the interests of the industry, supports its members, and organizes regular programs with the goal of building a strong community. They regularly conduct comprehensive market studies to this end.

At the beginning of the summer, a survey related to COVID was conducted for the first time, which provides insight into the crisis management of the Hungarian business services community, future priorities, and the process of the “back to the office” initiative. Assessing its success and exemplary community cooperation, and in the wake of the second wave of the virus, HOA decided to repeat the research to assess the current state of the industry and make a comparison with the results of the previous study. As before, IFUA Horváth & Partners and Corvinus University were partners in HOA in conducting the research.

Monika Slomska, President of HOA, highlighted: “In light of the previous survey's success and the astonishing example it has provided with regards to efficient member-wide cooperation, HOA has decided to repeat the study to showcase current industry conditions and to facilitate a comparison with the results of the previous study. The results of this new initiative are to be published in January in the form of a highly detailed report.”

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