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Industry revenue of »business and other management consultancy activities« in Hungary 2011-2023

Over the past few years, Budapest has emerged as an economic hub, which is one of the key reasons that revenues generated from business and other management consultant activities in Hungary are projected to increase from 2.6 billion U.S. dollars in 2016 to 3.3 billion U.S. dollars in 2023. According to a 2018 survey by startups.co.uk, Budapest ranked number one for launching a new business, amongst 80 other key European locations. This can be attributed to the low corporation taxes, which at nine percent are the least in the EU.

Additionally, financial and fiscal stability, growing interest from international venture capital & angel investors, and a good balance of labor costs and quality have augured well for the industry. Amongst the leading international firms which have established a strong foothold in the country include E.ON, General Electric, Samsung, Bosch, Tesco and MVM to name a few.

Industry revenue of »business and other management consultancy activities« in Hungary from 2011 to 2023

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Supplementary notes

* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.

Currency conversion factor: (EUR -> USD) = 1.186

The industry classification is based on the NACE Rev.2 - system in Hungary. The industry “business and other management consultancy activities“ has the code “M7022“.

Details on the methodology can be found here.

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