Hungary has great traditions in industry. The main fields are mechanical engineering and the processing industry. In recent years, numerous international companies have set up production sites in Hungary, followed by various suppliers.
In the services sector, tourism, financial and software services are the most important. Companies such as Vodafone and IBM have established Shared Service Centers in Hungary.Hungary has very attractive conditions and is one of the most favorable investment countries in Central and Eastern Europe.This statement was confirmed by numerous, positive facts:
- The best infrastructure in the region (Central Europe) with approximately 2 000 kilometers of motorway and highways;
- More than 200 commercial parks with excellent infrastructure;
- Several hundred thousands of well-motivated and above-average skilled workers with the most diverse qualifications and experiences (from assistants to several foreign-language engineers)
- A 9% tax rate and a flat tax rate of 15% are among the most attractive tax rates in Europe, both for companies and for individuals.
Hungary has been chosen as an investment location by renowned companies from the German-speaking countries in recent years. From Daimler-Benz, Audi, BMW, Bosch, Wienerberger, Nestlé or Stadler Rail (major manufacturer of rapid-transit railway), with which numerous suppliers have settled.