• Coronavirus in Hungary
  • Budapest
  • Hungary border control
  • HelloMagyar
EnglishFrenchGermanSpanish
EnglishFrenchGermanSpanish
Surprisingly much money is sent home by Hungarians working abroadSurprisingly much money is sent home by Hungarians working abroadSurprisingly much money is sent home by Hungarians working abroadSurprisingly much money is sent home by Hungarians working abroad
  • Politics
  • Business
  • Society
  • Sport
  • Culture
  • Special Hungary
  • News To Go
  • World
  • Contact Us
  • About us
  • About us
  • Contact Us
  • Privacy Policy
✕
Breaking News
  • NATO will kick out Hungary for sacking ‘NATO friend officers’ from the Hungarian military?

Support us
Daily News Daily News · 12/08/2016
· Business

Surprisingly much money is sent home by Hungarians working abroad

Canada economy Hungarians abroad labour market United Kingdom United States

Hungarians working in the United States, the United Kingdom, and Canada sent the largest amount of money home among those working abroad in 2014, Hungarian Academy of Sciences’ (MTA) economic study, The Hungarian Labour Market 2015 reveals.

The largest sum of money (USD 952.2 million) was sent to Hungary from Germany in 2014; more than the amount sent from the United Kingdom (USD 396.3 million) and Australia (USD 361.1 million) together.

It is surprising that so much money has been sent to Hungary from the United States and Canada, as little could be heard – compared to other target countries for emigrants seeking their fortune abroad – about Hungarians emigrating to these countries. MTA’s study also reveals that Austria, Switzerland, Sweden, and Slovakia are similarly among the top countries from where Hungarian citizens transfer money back to their homeland.

It has been found that the amount of money sent to Hungary increased in two separate waves in the past two decades; first, after joining the European Union in 2004, and then after 2009.

Moreover, while only USD 280 million arrived to Hungary from abroad in 2000, the sum rose to USD 4473 million in 2014, which means that the amount of money sent to Hungary increased by almost 1600% in fifteen years.

Button

It is noteworthy that in the years following the entry to the EU, the amount of money sent to Hungary constituted about 1.5-2 % of GDP, while it already represented 3 % of GDP in 2014.

translated by Gábor Hajnal

Source: index.hu

Canada economy Hungarians abroad labour market United Kingdom United States
Share
Daily News
Daily News

Leave a Reply

Your email address will not be published. Required fields are marked *

SUPPORT US

Subscribe to our newsletter

Sign up to receive daily updates, news & stories about Hungary!

Select your location below or enter your country so we can deliver our morning newsletters to you in time.


Thank you!

You have successfully joined our subscriber list.


.

Latest news
  • What happened today in Hungary? – 4 February, 2023
  • ASTONISHING VIDEO of the renewed castle of the ‘Greatest Hungarian’, Count Széchenyi
  • VIDEO, PHOTOS: Brutal windstorm in Hungary, buildings collapsed, trees uprooted, traffic disastrous
  • Debrecen’s new battery plant will have brutal high water consumption?
  • MEP Gyöngyösi: The EU must support Ukraine in guaranteeing minority rights
  • Want to learn Hungarian? Here are the best apps!
  • What will the Russians say? Hungarian military to start drills in Tallinn next week
  • This is why Hungary attracts German pensioners

About us

Contact us

Copyright rules

© 2023 DailyNewsHungary. All rights reserved! | Server and development by Svigelj Levente E.V