Brutal price rises at Hungarian summer festivals: here is what to expect

Food and drinks were the most expensive at the Sziget Festival last year, a senior analyst at the Oeconomus Economic Research Foundation told InfoRádió about their latest research. However, this year, they will be even more expensive, and not only at Sziget, but all the other festivals.

“Looking at the daily ticket data, we found that the price increase compared to last year is between 13 and 80 percent,” Dóra Erdélyi told InfoRádió. However, these are only indicative, as the price of remaining tickets increases as the festival date approaches.

Food and drink prices were also examined by the Oeconomus Economic Research Foundation. These also saw very significant price increases. They compared prices to 2019 due to the coronavirus outbreak and found that beer, for example, is already costing double this year.

Two years ago, a pint was HUF 750 (EUR 2). Meanwhile, last year, you had to pay at least HUF 1290 (EUR 3.44) for the same amount. But the price of other drinks and food has risen just as much,” said Dóra Erdélyi.

The senior analyst cited high inflation as a reason for the increase. She also mentioned the fact that the coronavirus outbreak has caused many people to leave the hospitality industry, leaving buffets facing a severe staff shortage. The only way to overcome this is to pay their staff more, and this is reflected in prices.

The research also looked at the economic impact of festivals. According to a 2020 study, eight of the biggest events in Hungary boosted the country’s GDP by HUF 1.6 billion (EUR 4,265,817). Meanwhile, they provided jobs for 400-450 people.