Hungary becomes the film capital of continental Europe

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As Hollywood productions continue to stagnate in the wake of the 2023 actors and writers strikes, Hungary has emerged as an important destination for international filmmaking. Bolstered by attractive tax incentives, a skilled local workforce, and world-class production facilities, spending on the local industry continues to break records. 

A Magnet for International Productions

Hungary’s exponential growth in the film production sector has primed it as an attractive base for some of the world’s largest films. Blockbuster hits such as the Dune franchise, Netflix’s The Witcher, and Blade Runner 2049 are just a few examples of major IPs that have shirked Hollywood in favor of Budapest’s many benefits.

It should come as no surprise that Hungary is also now one of Europe’s highest-ranked tech hubs. It has the fastest download speeds in emerging Europe, spurring a steady growth in online entertainment interaction in the country. Its technological capabilities have helped locals play exciting online slot games with state-of-the-art features and cinematic visuals without lag, indicating a promising future for Hungary’s entertainment sector. 

Generous Tax Rebates Fuel Local Growth

Hungary’s ascension to being the largest film producer in continental Europe was the result of decades of policy and strategy. For the last 20 years, the local government has provided a 30% tax rebate for international productions. This is tied with the Czech Republic with the highest rebate on the continent.

The past five years have seen Hungary’s film production spending grow from only $183 million in 2018 to an impressive $910 million in 2023. The number of productions with budgets over $1.5 million has also doubled in the past few years, proving the growing confidence that international studios have in Hungarian talent and facilities.

Modern Infrastructure and Talent

Hungary is home to five major studios, with the National Film Institute planning a 22% capacity expansion by the end of 2024. Its largest facilities such as Origo Studios and Korda Studios have hosted productions such as the latest Mission Impossible films, Poor Things, Alien: Romulus, and Midsommar.

Another financially beneficial aspect of local production is that Hungarian talent tends to comprise 80% of production crews on international features. This was the result of targeted training programs to develop below-the-line talent. Hungarian production designer Zsuzsa Mihalek won a 2024 Oscar for her work on Poor Things, proving how effective the programs have been.

Hungary’s locations are also multi-faceted and can stand in for various European cities from multiple historical periods. On this quality, producer Robert Lantos stated, “Whenever I have a project that needs a European-looking city, my direct path is to Budapest.” The most anticipated film project to take advantage of Budapest’s versatility is A24’s The Entertainment System Is Down, marking the return of Triangle of Sadness’s Ruben Östlund.

With Hungary recently announcing that it will extend its tax rebate program to 2030 and studio expansions well underway, Hungary’s film industry shows no sign of slowing down. A wealth of high-profile projects means there is set to be even more financial investment in Budapest’s film sector next year, securing its place at the top of continental European film production.

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