Budapest

How to escape winter on a budget: Affordable sunny getaways from Budapest

funchal madeira portugal budapest

As the cold winter months approach, many of us dream of escaping the long, dark nights and freezing temperatures for a warm, sunlit paradise. Travelling from “winter to summer” has become one of the biggest trends in recent years, thanks to increasingly affordable and accessible destinations.

From Budapest, you can easily reach exotic islands, historic cities, and stunning beaches with direct flights, where temperatures range between 20°C (68°F) and 30°C (86°F). Here’s a guide to some of the best-value destinations for the 2024/2025 season, according to Pénzcentrum.

Canary Islands, Spain

Located near the coast of Africa in the Atlantic Ocean, the Canary Islands offer eternal spring-like weather, breathtaking beaches, and volcanic landscapes. Tenerife and Gran Canaria are particularly popular, featuring vibrant cultural life, nature reserves, and diverse beaches.

tenerife canary islands spain
Tenerife, Canary Islands, Spain. Photo: depositphotos.com

Weather: 20-25°C (68-77°F) in winter with plenty of sunshine.
Swimming: The sea temperature is around 20°C (68°F), but many hotels offer heated pools.
Costs: Budget airlines offer flights to Tenerife or Gran Canaria starting from EUR 100. Accommodation in 3-star hotels is available for as little as EUR 300-350 per week per person.

Egypt – Hurghada or Sharm El Sheikh

Egypt is famous for its pyramids, Nile culture, and the crystal-clear waters of the Red Sea. Hurghada and Sharm El Sheikh are top resort destinations offering not only beach relaxation but also excellent scuba diving opportunities.

Weather: 25-30°C (77-86°F) between December and March, with low humidity.
Costs: Charter flights and package deals, including all-inclusive options, are available from EUR 430 per person, often including airport transfers.
Swimming: The Red Sea remains warm and ideal for diving even in winter.

Madeira, Portugal

Known as the “Island of Eternal Spring,” Madeira boasts volcanic landscapes, lush greenery, and picturesque towns. The island is celebrated for its unique gastronomy, wines, and breathtaking natural beauty, making it perfect for both relaxation and adventure.

funchal madeira portugal
Funchal, Madeira, Portugal. Photo: depositphotos.com

Weather: Mild 19-22°C (66-72°F) temperatures in winter with plenty of sun.
Costs: Low-cost airline tickets start at EUR 75-125.
Swimming: While the ocean is cooler, Madeira’s volcanic beaches are a must-see experience.

Agadir, Morocco

Morocco, where the Sahara meets the Atlantic Ocean, is renowned for its cultural richness and diverse landscapes. Agadir offers sun-soaked beaches, while Marrakesh is famous for its bustling souks (markets) and historic architecture.

agadir morocco
Agadir, Morocco. Photo: depositphotos.com

Weather: 20-25°C (68-77°F) during winter with sunny skies.
Costs: Budget flights from Budapest often include a layover, with round-trip tickets starting at EUR 100-150.
Swimming: Golden sandy beaches and oceanfront promenades await travellers.

Malta

Located in the southern Mediterranean, Malta is a small island nation packed with history and stunning coastlines. Its mild winter weather (15-20°C/59-68°F) makes it an excellent choice for a quick escape. The capital, Valletta, is a UNESCO World Heritage site with incredible architecture and cultural landmarks.

Malta
Malta. Photo: depositphotos.com

Weather: 15-20°C in winter, mild and sunny.
Costs: Flights from Budapest or Vienna start at EUR 85, and accommodations are affordable.
Swimming: While the sea is cooler in winter (16-18°C/61-64°F), the picturesque Blue Lagoon and Mellieħa Bay remain captivating.

With these destinations, escaping the winter chill doesn’t have to break the bank. Whether you prefer relaxing on a sunny beach, exploring vibrant cultural sites, or diving into crystal-clear waters, there’s something for everyone. Pack your bags, leave the frost behind, and bask in the warmth of these affordable sunny getaways!

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Featured image: depositphotos.com

Budapest’s best ice rinks – Winter charm, mulled wine, and active fun

csepeli jégpark ice park (1)

Ice skating has been a cherished winter tradition in Budapest since 1870, when the first permanent ice rink opened in Városliget City Park. Today, the city and its surroundings offer numerous opportunities to enjoy this seasonal pastime. Here are five standout ice rinks to explore:

1. Városligeti Műjégpálya (City Park Ice Rink)

city park ice rink budapest
Photo: Facebook/Városligeti Műjégpálya és Csónakázótó

One of Europe’s oldest and largest ice rinks, Városligeti Műjégpálya boasts a stunning view of Vajdahunyad Castle. Open from mid-November to late February, it’s a popular spot for tourists and locals alike. According to Femina, skates can be rented on-site, and admission ranges from HUF 2,000 (EUR 4.8) to HUF 3,000 (EUR 7.2), with higher rates during peak times. This rink is perfect for large groups and beginners but can get crowded.

2. Óbuda’s Free Ice Rinks

Óbuda offers two charming, free-to-use rinks during the winter season: one at Fő Square and another near the Békásmegyer Market. These rinks are smaller and cosier than Városliget, ideal for families and locals. They’re open from early December to mid-January, with skate rental and sharpening services available. Visitors can also enjoy mulled wine and festive treats nearby.

3. Csepeli Jégpark (Csepel Ice Park)

csepeli jégpark ice park (1)
Photo: Csepeli Jégpark

Located on Csepel Island, this unique rink features a circular ice track and separate areas for beginners. Open from late November to late January, it offers scenic surroundings and festive decorations. Admission costs HUF 2,500 (EUR 6) for non-residents and HUF 1,500 (EUR 3.6) for local residents with proof of address. Skate rental is available for HUF 1,500 (EUR 3.6).

4. Jégkert (Ice Garden)

jégkert ice garden buda (1)
Photo: Facebook/Budai Jégpálya – Jégkert

Situated near Mammut shopping mall in Buda, Jégkert is a modern covered rink open from October to March. Visitors can enjoy nearby dining options and entertainment, such as billiards and table football. Skate rentals cost HUF 2,000 (EUR 4.8), and admission is HUF 2,500 (EUR 6). The venue also hosts events and offers skating and hockey lessons for children.

5. Bókay Garden Ice Rink

bókay garden ice rink (1)
Photo: Facebook/Bókay-kert

In the 18th district, the Bókay Garden rink offers a covered 450-square-meter ice surface, open from late November to early January. Admission costs HUF 2,000 (EUR 4.8) for non-residents, while locals enjoy discounted rates. Skate rental is HUF 1,500 (EUR 3.6). The rink is popular among families seeking a less crowded experience.

Whether you’re a beginner or an experienced skater, Budapest’s ice rinks provide a magical way to embrace winter fun, complete with festive vibes and cosy refreshments.

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Scams at Hungarian Christmas markets – Tips to stay safe

christmas market vörösmarty classic xmas

Christmas markets are open across Budapest and Hungary, offering festive entertainment and shopping opportunities. However, not everyone visits these markets in the holiday spirit; some aim to exploit the season for quick profits through scams. Here’s what to watch out for.

Beware of food and drink scams

When buying food or drinks at Christmas markets, ensure proper hygiene and preparation standards are met. Avoid purchasing warm food served cold, items handled without gloves, or paying for samples. Always ask about the type of wine used for mulled wine and, if possible, request a tasting before committing to a purchase. For meat products, choose stalls where preparation and cooking are done in front of you.

christmas market food
Photo: Facebook/Vörösmarty Classic Xmas

Freshly prepared items, such as chimney cakes and flatbreads, are best bought from vendors visibly making dough on-site. According to Travelo, when purchasing prepackaged goods like sweets or baked items, you should ensure the vendor does not charge for packaging materials, as this is prohibited.

Consumer rights and guarantees

Vendors at Christmas markets must comply with the same consumer protection laws as regular shops. This includes displaying their company name, address, and contact details for customers to address any future complaints. They are also obligated to provide receipts or invoices. Products purchased come with warranties and guarantees, which cannot be voided due to missing packaging or receipts, except for custom-made items.

christmas market vörösmarty classic xmas
Photo: Facebook/Vörösmarty Classic Xmas

Donation scams

Fraudulent charity collectors often take advantage of the festive atmosphere to solicit donations for fake causes. If approached, ask for identification, and if you decide to donate, do so discreetly to avoid drawing attention to your wallet.

Money exchange risks

Avoid exchanging cash with strangers in the market, as this could result in counterfeit money or no money in return. Police recommend refusing such requests altogether. Drivers should also avoid leaving valuables in visible locations within their vehicles, even in guarded parking lots.

Pickpocketing alert

christmas market pickpocket scam
Photo: depositphotos.com

Christmas markets are hotspots for pickpockets. Keep your belongings secure at all times. Avoid placing wallets in back pockets or outer bag compartments, and store valuables in inner coat pockets for added security.

Reporting issues

If you encounter irregularities, inform the market organisers first. For food safety concerns, contact the National Food Chain Safety Office (NÉBIH), and for dangerous products, reach out to consumer protection authorities. For serious incidents, notify nearby police officers or dial 112. In minor cases, seek help from the market’s security personnel.

By staying vigilant, you can enjoy the festive season safely while avoiding scams and mishaps.

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Featured image: depositphotos.com

Magical Budapest Christmas markets to visit this Christmas: dates and locations

advent basilica christmas market

Budapest’s 2024 Christmas markets promise to enchant visitors with festive cheer, handcrafted products, and culinary delights. Here’s a roundup of the city’s top markets, offering unforgettable holiday experiences for both locals and tourists.

1. Vörösmarty Square Advent Market (Vörösmarty Classic Xmas)

Budapest Christmas Markets Vörösmarty Square_Budapest
Photo: www.facebook.com/budapestchristmasfair

Dates: 15 November  – 31 December 2024
Located in the heart of the city, this iconic market features artisanal crafts, gastronomic specialities, and festive programs. Visitors can marvel at a towering Christmas tree and enjoy the magical glow of illuminated pavilions, creating an unparalleled holiday atmosphere, Magyarországom.hu writes.

2. Advent Basilica at St. Stephen’s Square

advent basilica christmas market
Photo: Facebook/Advent Bazilika

Dates: 15 November 2024 – 1 January 2025
Recognised as the best Christmas market of all time, this venue offers 3D light projections on St. Stephen’s Basilica, an ice-skating rink, and numerous craft stands. The culinary lineup includes traditional Hungarian dishes and beverages, adding to the festive charm.

3. Deák Ferenc Street Advent Market

Dates: 17 November 2024 – 1 January 2025
This elegant market transforms Deák Ferenc Street into a winter wonderland, with premium brand shops alongside festive stalls, light installations, and live music programs. Its sophisticated ambience makes it a must-visit destination during the holidays.

4. Városliget Christmas Market

Dates: 8 December 2024 – 1 January 2025
Situated in the City Park (Városliget), this market is ideal for families, offering activities like ice skating and craft workshops. Surrounded by nature, it provides a tranquil yet festive escape with plenty of holiday charm.

Advent Basilica: Four-time winner of Europe’s Best Christmas Market

In 2023, the Advent Basilica Market earned the title of Europe’s best Christmas market for the fourth consecutive year. Its signature feature is the stunning 3D light projection on the basilica’s façade, creating a unique festive ambience every evening. Additional attractions include a skating rink, artisanal stands, and a rich array of culinary offerings, drawing both locals and international visitors.

What to expect in 2024

Budapest’s Advent markets continue to offer premium festive experiences. While visitors can enjoy handcrafted goods and traditional food, prices reflect their high quality. Popular treats such as mulled wine and roasted sausages are premium-priced, but the ambience and memories created are priceless.

This year’s markets will feature similarly vibrant programs and festive decorations, ensuring that every visitor finds their perfect Christmas experience. From exploring illuminated streets to savouring traditional Hungarian delicacies, Budapest’s Advent markets are the perfect way to embrace the holiday season.

Read also:

Budapest’s iconic tram line 2 set for overhaul at World Heritage location

bkk tram line 2 world heritage site (1)

The Budapest Transport Centre (BKK) has announced ambitious plans to upgrade tram line 2, one of the city’s most iconic routes along the Danube. The project, focusing on the stretch between the Elisabeth Bridge and the Chain Bridge, aims to enhance accessibility while preserving the area’s UNESCO World Heritage Site status. The upgrades will ensure that modern low-floor CAF trams can operate along the route by late 2026, offering a more inclusive experience for passengers.

Key infrastructure upgrades

According to BKK, the planned improvements include reconstructing the viaduct beneath Vigadó Square and renovating nearly 900 meters of tram tracks. Platforms at the Eötvös Square stop will be upgraded with raised heights to accommodate low-floor trams, making boarding easier for passengers with limited mobility, those with strollers, or travellers carrying heavy luggage. Tactile paving will also be installed to assist visually impaired passengers.

bkk tram line 2 world heritage site (1)
BKK to upgrade the iconic tram line 2. Photo: BKK

Additional renovations include repairing retaining walls, refurbishing historic railings and lampposts, widening pedestrian staircases to the lower embankment, and modernising the lighting and drainage systems. To ensure compliance with heritage conservation standards, all restoration work will be carried out under the supervision of expert conservators.

EU-funded transformation

The tram line 2 overhaul project is supported by European Union funding, with a conditional procurement process already underway. If successful and funding is secured, construction could begin as early as 2025. The initiative reflects the city’s commitment to modernising public transport infrastructure while making it more inclusive for all residents and visitors.

Accessibility in focus

bkk tram line 2 world heritage site
Tram line 2. Photo: BKK

While full accessibility improvements at Vigadó Square are not feasible due to technical and heritage constraints, the boarding areas will be widened. The nearby Eötvös Square stop, located just 300 meters away, will see significant upgrades, providing a more accessible link to the Danube Promenade’s pedestrian zone.

Future plans for Budapest’s tram network

Beyond the current project, BKK and the Budapest Municipality are working on broader plans to modernise the city’s tram network by 2030. These include introducing 51 new low-floor CAF trams, pending EU funding and additional infrastructure investments. A separate tender is being prepared for over 100 new trams, which will replace older vehicles and expand accessibility across more routes.

This initiative is part of Budapest’s larger strategy to create a more inclusive, sustainable, and livable city while maintaining its rich cultural heritage. With these upgrades, tram line 2 will continue to be a vital and picturesque mode of transport for locals and tourists alike.

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Jazzfest Budapest 2025: Spotlight on European, African, and Asian Jazz

Dhafer Youssef_@Bechir Zayene Jazzfest Budapest

The organizers and curators of Jazzfest Budapest have focused the 2025 program on showcasing jazz beyond the borders of America. Europe, Africa, and Asia are producing increasingly exciting musical innovations, with outstanding bands rising to prominence.

Jazzfest Budapest 2025

From April 27 to May 14, 2025, the 4th Jazzfest Budapest will feature performances by Avishai Cohen, Jojo Mayer, Dhafer Youssef, Rabih Abou-Khalil, Kinga Glyk, Tribute to Esbjörn Svensson Trio, and Miklós Lukács. The festival will include sunrise concerts, a special series celebrating International Jazz Day, and opportunities to discover young talents from across the globe, from Brazil to Italy, Austria to Korea. The event concludes with a gala evening dedicated to the living legend, Mihály Dresch.

The opening concert of Jazzfest Budapest 2025 will be performed by Avishai Cohen, one of the most remarkable double bass players of his generation, captivating audiences worldwide with music infused with Middle Eastern and Andalusian elements. Together with his quintet, Cohen will present both old favorites and new compositions from their Brightlight album.

Avishai Cohen. Credit: Andreas Terlaak Jazzfest Budapest
Avishai Cohen. Credit: Andreas Terlaak


Rarely do accordion and cimbalom share a stage, but on April 29, Miklós Lukács will perform with internationally acclaimed accordionist Vincent Peirani, double bassist György Orbán, and percussionist András Dés at the Eiffel Art Studios. On May 2, Jojo Mayer will present his Me/Machine project, an improvised duo that integrates analog drumming with artificial intelligence, where man mimics machine and machine mimics man.

Tunisian artist Dhafer Youssef bridges cultures through his music, blending traditional Arabic melodies with modern jazz improvisation and electronic sounds. A leader of the contemporary movement merging Eastern and Western music, Youssef will perform on May 4 at the Erkel Theatre.

In 2015, three young Hungarian pianists reached the top ten in the piano competition of the world-renowned Montreux Jazz Festival—a historic achievement. Ten years after this milestone, on May 5, the three pianists, Mátyás Gayer, Krisztián Oláh, and Áron Tálas, will reunite for a special performance, even sharing the stage simultaneously at three pianos.

On May 7, Rabih Abou-Khalil will transport his audience to the enchanting world of the Middle East. His compositions blend the rich melodies and rhythms of Arabic music with the freedom of jazz and the refinement of classical music.

On May 10, the Eiffel Art Studios will host an evening for lovers of jazz, funk, and groove. Polish bassist Kinga Glyk, whose videos have set viewership records, will perform. Her latest album was produced by five-time Grammy-winner Michael League, with Grammy-winning engineer Nic Hard.

Nduduzo Makhathini’s works bring together jazz and Zulu cultural heritage. His debut album Modes of Communication: Letters from the Underworlds under Blue Note was named one of The New York Times’ “Best Jazz Albums of 2020,” followed by In the Spirit of Ntu in 2022 and uNomkhubulwane in 2024.

In 1993, three Swedish musicians—Esbjörn Svensson, Dan Berglund, and Magnus Öström—formed the e.s.t. trio. Little did they know it would become one of the most influential bands in European jazz of the 1980s. To mark e.s.t.’s 30th anniversary, Magnus Öström and Dan Berglund, along with fellow musicians Joel Lyssarides, Magnus Lindgren, Verneri Pohjola, and Ulf Wakenius, have performed two grand concerts in Cologne and Stockholm. On May 12, they will perform at the Erkel Theatre. The next day, Antonio Farao, one of Italy’s most distinguished jazz pianists and composers, will join forces with John Patitucci, a contemporary jazz bass icon, and drummer Gene Jackson, who has collaborated with Herbie Hancock, Wayne Shorter, and Dave Holland since the 1980s. Together, they promise an unforgettable trio performance.

Jazzfest Budapest: gala dinner

The festival will conclude on May 14 with Mihály Dresch’s gala evening, offering a glimpse into the life’s work of this iconic artist. In addition to performances by his active ensembles—Dresch Quartet, Dresch Alternative Quartet, and Dresch String Quartet—special guests and unique musical collaborations are in store for the audience.

read alsoTime Out Market: Budapest to host Central and Eastern Europe’s most outstanding gastronomy market in 2025

White Christmas in Hungary: Snowfall Brightens the Holiday Season – photo gallery

snow in Hungary Christmas

Most Hungarians always wish we had a white Christmas, and now it seems we do! We have two photo galleries, one from Budapest, the other from Mecsek near Pécs:

MECSEK

Snowfall on Christmas Eve

Especially in the mountainous areas, including Mecsek and its surroundings, the landscape may be snowy on Christmas Eve, where a thick snow cover may form in the period ahead, and snow flurries may also develop temporarily.

In flat areas, however, the snow cover will melt, Mosthir says.

What will the weather be like at Christmas?

On the first day of Christmas, Wednesday, 25 December, the clouds will break, and the sun will shine. Light rain, sleet, and snow showers may occur in the southwest at dawn. Winds will be strong in the north-northeast in several places and gusty in the west. The temperature will be between 2 and 7 degrees Celsius in the early afternoon, according to the weather forecast.

What’s next? On Thursday, after sunny weather, clouds will increase from the north and northeast, and from the afternoon, there may be sporadic rain, sleet, and snowfall in the mountains. Winds will remain strong in the NE, with highs around +5 degrees.

Budapest

Time Out Market: Budapest to host Central and Eastern Europe’s most outstanding gastronomy market in 2025

Time Out Market

Imagine a bustling hub where world-class cuisine meets local flavour, all under one historic roof. In the second half of 2025, Budapest’s iconic Blaha Lujza Square will welcome Time Out Market, the first gastro-market of its kind in Central and Eastern Europe. Set within the beautifully restored Corvin Palace, this vibrant space promises to blend the city’s rich culinary heritage with global gastronomic trends, offering a dining experience like no other. It would be a shame to miss out on this…

From magazine to a vibrant gastro-market

As Helló Magyar writes, Time Out Market is a gastronomic destination that combines international standards with a focus on local specialities. Featuring stalls from the city’s best and most popular restaurants and chefs, it offers an unrivalled culinary experience. The concept debuted in Lisbon, where visitors can enjoy everything from simple local dishes to creations by Michelin-starred chefs—all at affordable prices. For over 50 years, Time Out has been curating the best a city has to offer, from culture and nightlife to food and drink. Now, this curatorial expertise has taken shape in Time Out Market, a space designed to showcase the very best of the city under one roof, all with the trusted endorsement of Time Out.

Time Out Markets around the world

The Time Out Market concept has expanded far beyond its original home, with similar gastronomic markets thriving in major cities across multiple continents. In the Americas, you’ll find them in Montreal, Boston, New York, and Chicago; in Africa, in Cape Town; in the Middle East, in Bahrain and Dubai; and in Europe, in Barcelona and Porto. The idea remains consistent wherever it lands: the best local chefs and restaurants occupy the stalls, selected through a rigorous screening process, with the lineup refreshed every few years.

Time Out Market
Photo: depositphotos.com

Culinary experience in Budapest

These markets cater to both locals and tourists. Locals can enjoy dishes from their favourite spots in a lively setting, with the bonus that groups of friends aren’t limited to choosing just one type of cuisine. Tourists, meanwhile, can dive into the local culinary scene in the most accessible way. A similar experience is coming to Budapest, where a former dancefloor will transform into a vibrant space filled with food stalls and communal tables featuring top local eateries. While Time Out Market Budapest is set to open in the second half of 2025, the list of participating restaurants remains under wraps.

However, Time Out has revealed that the market will feature 14 kitchens showcasing award-winning chefs, local culinary favourites, and up-and-coming restaurateurs. Alongside the food, visitors can enjoy drinks from four bars, including innovative cocktails crafted by local mixologists, all in a space designed to accommodate 800 guests. With an event area and a menu reflecting Budapest’s rich and diverse food scene, Time Out Market Budapest promises to become a culinary and cultural hotspot when it opens next year.

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Featured image: depositphotos.com

Major changes ahead: BKK to simplify passes and increase MOL Bubi fees

bkk passes budapest travel

The Budapest Transport Centre (BKK) is set to further streamline its ticket and pass offerings in 2025, following changes aligned with the tariff alliance introduced earlier this year. These measures aim to make public transport in Budapest more accessible, affordable, and transparent.

Changes concerning BKK passes

Starting 7 January 2025, several ticket types will be discontinued based on customer purchasing trends, BKK reports. These include:

  • Half-month, quarterly, semester, and discounted annual passes for primary and secondary school students.
  • Quarterly, semester, and discounted annual passes for university students.
  • Quarterly and discounted annual passes for pensioners.
  • Budapest group 24-hour tickets.
  • Dog and bicycle passes.

In place of these passes, dog and bicycle transport will be free for those holding valid transport passes. Those travelling with single tickets will still need to purchase separate tickets for pets or bicycles, adhering to specific conditions.

bkk dog passes budapest
Photo: BKK

Changes concerning MOL Bubi bike-sharing

Additionally, BKK will phase out the annual MOL Bubi bike-sharing subscription, replacing it with a new six-month pass costing HUF 6,500 (approx. EUR 16). The monthly fee will rise to HUF 1,500 (approx. EUR 4), while the per-minute rental fee will be adjusted to HUF 50 (EUR 0.12). As the MOL Bubi service expands, three new bike stations will be added in early 2025, bringing the total to 220 locations across Budapest.

mol bubi bkk
MOL Bubi bike-sharing service. Photo: molbubi.hu

The decision to discontinue the annual subscription stems from upcoming technical transitions. The current service agreement expires in December 2025, prompting the implementation of the Bubi 3.0 system. The transition requires phasing out annual passes, but existing ones will remain valid until expiration.

Enhancing passenger and staff security

BKK is also introducing body cameras for ticket inspectors, passenger coordinators, and security staff to improve safety for both passengers and employees. This measure comes after thorough legal and technical reviews and follows a pilot phase involving 50 cameras.

bkk body camera security
Photo: BKK

The cameras will initially be used on routes prone to security incidents. Feedback from a 2023 survey, where 40% of respondents felt safer with onboard cameras, supports this initiative. Currently, 70% of BKK-operated vehicles are equipped with cameras, with new vehicles being mandated to include them.

The use of body cameras is expected to enhance monitoring and address incidents more effectively. Incidents are already better-managed thanks to data-driven deployment, with security personnel focusing on high-risk routes and times.

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Trading in Gránit Bank shares starts on Budapest Stock Exchange

Trading in Granit Bank shares starts on BSE

Trading in the shares of Gránit Bank has started on the Budapest Stock Exchange (BSE) on Monday.

Gránit Bank on BSE

Gránit Bank has completed the largest initial public offering in Hungary in the past 25 years, Éva Hegedűs, the bank’s CEO said on Monday after symbolically ringing the bell to start trading in the bank’s shares in the standard category of the Budapest Stock Exchange.

In the subscription period ended in mid-December, investors submitted bids for more than HUF 21bn of shares in the price range between HUF 13,172 and HUF 15,054 as against the original plan of a HUF 7bn minimum issue, Hegedűs said.

The company decided to issue 1,220,820 new ordinary shares with face value of HUF 1,000 and raised fresh funds of HUF 17.7bn.

Retail investors subscribed HUF 11.5bn worth of shares or 64.2pc of the total and institutional investors subscribed HUF 6.2bn or 35.2pc.

At the end of November, Gránit Bank managed more than 222,000 accounts, had deposits of more than HUF 1,114bn and lending stock of HUF 637.5bn. The bank’s market capitalisation is HUF 262.3bn and its shareholders’ equity is HUF 278.7bn.

The CEO said 19.53pc of the bank’s shares are traded on the bourse after the IPO, but the aim is to reach the 25pc required for premium category membership.

Shareholders with an over 4pc stake are TiberisDigital (István Tiborcz’s company holding a 39.19pc stake), Gránit Bank’s employee stock ownership programme (34.96pc stake), Pannonia Pension Fund (6.31pc stake), E.P.M. Kft (Éva Hegedűs’s company, part of the freefloat, 4.15pc) and other small investors (part of the freefloat, with a 15.39pc stake), Gránit bank said on the BSE website.

Long-term strategy

Under its long-term strategy, Gránit Bank plans to raise net profit from HUF 21.6bn this year to HUF 122bn in 2033, total assets from HUF 1,300bn in 2023 to close to HUF 6,000bn, lending stock from HUF 528m last year to HUF 3,290bn, and the deposit stock from HUF 929bn to HUF 5,162bn.

Hegedűs said the bank will spend 50pc of the fresh funds on developing retail and business lending, 35pc on business development, acquisitions and expansion abroad, and the remaining 15pc on AI-based development.

read also: Forint reaches new historic lows against EUR, GBP, USD, 420/EUR rate expected in 2025

Accident on the Danube: a hundred-metre barge lost control in Budapest – video, photos

A huge barge has broken free on the Danube near Budapest, damaging several boats. Video, photos and details here

A barge collided with several smaller boats near the Margaret Bridge. We will keep you updated with details of the accident.

The police reported on the boat accident at Margaret Bridge. The Budapest Police Headquarters (BRFK) said that according to current information, the accident did not affect the bridge pier.

The BRFK told 444 that the barge was travelling uphill, i.e., against the direction of the Danube, when the rope of the push barge broke, causing the barge to turn. It then collided with a harbour where two other vessels were moored. It is claimed that it did not hit the Margaret Bridge (Margit híd). It’s important to note that there were no personal injuries in the collision.

A huge barge has broken free on the Danube near Budapest, damaging several boats. Video, photos and details here
A huge barge has broken free on the Danube near Budapest, damaging several boats. Photo: MTI
A huge barge has broken free on the Danube near Budapest, damaging several boats. Photo: MTI
A huge barge has broken free on the Danube near Budapest, damaging several boats. Photo: MTI

A video of the incident is circulating on social media, with a user posting his own footage on his TikTok channel, showing the barge at an angle, with its front end making contact with several smaller boats alongside. Firefighters were also called to the scene, but, as it turned out, their assistance was not needed.

@asmodrawz

2024.12.22 Margit hídnál teherhajó neki ütközött és lerombolta a kikötőt a !! #budapest #baleset #margithíd #crash #ship

♬ original sound – Asmo Drawz
@jzsef427

FRISS: Hajóbaleset a Dunán❗️Több hajónak is nekicsapódott, aztán a Margit hídnak ütközött egy uszály ott, ahol korábban a Hableány elsüllyedt. Fotók és részletek itt 👉 https://budapestkornyeke.hu/hajobaleset-a-dunan-tobb-hajonak-csapodott-egy-iranyithatatlan-uszaly-majd-a-margit-hidnak-utkozott-fotok/

♬ eredeti hang – Ihász Dominika

The police are investigating the circumstances of the accident in a criminal investigation to establish whether anyone is criminally liable.

As we wrote yesterday, a Hungarian boat burned and sank, and the owner almost died – details and video here.

Read alsoShocking video: tram slams into bus, driver thrown from vehicle

UPDATE

Soma Csécsi, a spokesman for the Budapest Police Headquarters (BRFK), told Index on Monday that a case has been opened for the misdemeanour of endangering water transport, in which a Ukrainian citizen, whose navigation licence has been revoked, has been questioned as a suspect.

Cruises on the Danube

The accident does not affect the operation of boats operated by the Budapest Public Transport Company (BKV), the evening boat service, including the Light Boat, they added.

New wooden Danube swimming pools may come: work starts in 2025

Danube swimming pool 2

In the 19th century, there were several open-air, “floating” wooden swimming pools on the River Danube, even in its downtown section, between the Hungarian Parliament and the Elizabeth Bridge.

Wooden Danube swimming pools in the 2020s?

Dávid Vitézy, a member of the Budapest Municipal Assembly and former mayoral candidate supported by PM Orbán’s Fidesz, would like to reintroduce that special kind of swimming pool to the locals and tourists in Budapest. An NGO, Valyo, measured water quality in 2024 and found that – except for periods of heavy rains and floods – the water quality of the Danube is acceptable for swimming and bathing. A good example is the Római Beach, which is free and accessible to many during the hottest days of the summer.

The only free Budapest Danube beach Plázs Római Beach
The Római Beach. Photo: FB/Gergely Karácsony

Vitézy’s proposal to prepare the building and creation of the first Danube wooden swimming pool downtown was accepted by the Municipal Assembly on 18 December.

The politician promised to start the preparatory work in January 2025 by carefully measuring the venue options, water quality results and possible operation.

Paris swimming pool
A River Seine swimming pool in Paris. Photo: FB/Valyo

The cradle of the Hungarian swimming sport

“At the beginning of the twentieth century, there were nine such wooden swimming pools in Budapest”, Valyo wrote on their official website. The pools hovered on rafts floating on the water. They had railed sidewalks, cabins, and a rectangular pool, where safety slats protected the bathers from the constant drift of the river water.

Danube swimming pool 2
Wooden swimming pools in the River Danube before the war. Photo: Valyo/FB

Such pools operated only seasonally, from 1 May until September. In the autumn-winter period, they were dismantled or towed to the shore and stored in warehouses to be rebuilt in early spring.

The last functioning Danube Bath welcomed guests in front of the Hungarian Parliament even in the summer of 1944. During the siege (December 1944-February 1945), it was destroyed like the city surrounding it. The Communist leadership did not reestablish them because of the high pollution level of the Danube water caused by the factories upstream, the lack of wood and the risk of infection.

Danube swimming pool
Photo: FB/Valyo

“We would like such water structures to be rebuilt in Budapest to bring people closer to the river, while also catalysing the view of the Danube as a pure natural asset”, Valyo concludes. It seems the Budapest Municipal Assembly took the first steps in the right direction.

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Budapest university in TOP 20 in the QS sustainability ranking

Budapest technical university qs ranking

The third global sustainability ranking by Quacquarelli Symonds (QS) has been published, placing BME 556th among universities worldwide. This is slightly lower than a year earlier, probably due to the fact that more than 350 new entries have been added to the list, which now includes 1,744 institutions from 107 countries.

In Europe, BME is ranked 240th, in the Eastern European region 17th out of 111 universities, and in Hungary, similarly to 2023, 4th.

The ranking is based on nine weighted criteria: environmental education, environmental research, environmental sustainability, employability and opportunities, equality, health & wellbeing, impact of education, knowledge exchange, good governance, bme.hu wrote.

QS sustainability ranking
Photo: FB/BME

BME achieved the best position (195th) in the good governance category, but also scored well in environmental education (287th),

ranking 5th in the Eastern European field and 1st within the country.

You can read about where BME stands in the QS world ranking in this article and about its position in the European ranking here.

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Budapest airport shuttle may be cheaper with new and longer routes, but buses may be more crowded in 2025

Budapest Airport Shuttle

The 100E airport shuttle bus is probably your best option to get from Budapest Airport to downtown in a time-saving and comfortable way. However, the service is expensive for locals. Therefore, former mayoral candidate Dávid Vitézy wants to make it cheaper for those with a Budapest pass. Following his proposal, other groups in the municipal assembly also submitted initiatives to change the operation of the airport shuttle. As a result, 2025 may see new stops, extended routes and more crowded buses.

Budapest airport shuttle may circulate differently and have new routes in 2025

Mr Vitézy’s proposal was simple: those with at least a monthly Budapest pass should travel with 100E airport shuttle for HUF 450 (EUR 1.2), the price of a public transport ticket valid for trams, metros, and buses. The current price is HUF 2,200 (EUR 5.3), which is extremely high even for individual local travellers. For families or groups of friends, hiring a cab is cheaper even if they have a Budapest pass.

Therefore, Dávid Vitézy submitted the relevant proposal to the 18 December Municipal Assembly meeting, where it received several modifications. Mayor Gergely Karácsony and Fidesz Budapest leader (and former mayoral candidate) Alexandra Szentkirályi suggested changes in the network of the bus line, for example, an extension to the Nyugati railway station or a new line between the Budapest Airport and Buda. Moreover, they also suggested the addition of more stops, for example, at the Corvin District metro station.

Budapest Airport Shuttle
Source: FB/BKK

Since Vitézy accepted all modifications, there was a unanimous vote. As a result, they will continue the preparatory work in the transport and urban development committee in the first months of 2025, where they will also make the final decision about the new pricing system. If the price of the airport shuttle is reduced, we should expect more travellers, which means that buses will be more crowded. Thus, Alexandra Szentkirályi proposed an increase in frequency, but seemingly, the parties could not agree.

Traffic order will be modified in the downtown

The Municipal Assembly accepted another initiative of Vitézy: they will modify the traffic order in Budapest’s 6th and 7th districts, because trolleybuses regularly get stuck due to the bigger cars, vans, and SUVs parking in the narrow streets and blocking the way. As a result, an increasing number of traffic jams paralyse both the public transport system and car traffic.

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Constitutional Court: There will be no referendum on the Budapest Olympics

budapest olimpia park

The Hungarian Olympic Committee (MOB) said on Thursday that it acknowledged a Constitutional Court ruling that a decision of the Kuria, in which the supreme court validated a planned Budapest referendum on hosting the Olympics, had been unconstitutional.

The Constitutional Court said on its website that “the reason for the annulment is that the Kuria’s interpretation of the referendum question being unambiguous goes against the constitution, with special regard to its timing”.

MOB turned to the Constitutional Court in late November asking it to annul a November 12 decision by the Kuria, and not make it possible for a referendum to be held ahead of time on a proposal to organise the Olympic Games. MOB said on its website that its aim was to ensure that a decision on an initiative for organising the Games should only be made after thorough preparation, information gathering, public debate, and knowledge of the facts.

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Exciting: Wizz Air to offer 11 new flights a week to the Mediterranean from Budapest in 2025!

TUI and Wizz Air have teamed up to significantly increase the number of flights from Budapest in summer 2025. Instead of the current four flights a week, eleven flights will now be available from the Hungarian capital, including routes to popular destinations such as Cyprus, Turkey, and the Greek islands. This ambitious development will provide travellers with enhanced opportunities to reach their favourite holiday destinations with ease. 

According to Turizmus, as part of this expansion, Budapest will now offer three flights per week to Larnaca and two flights per week to both Heraklion and Antalya. Additionally, two new Greek destinations—Rhodes and Zakynthos—have been added to the programme. These updates make TUI’s summer offerings especially appealing to those seeking seaside holidays.

Flights from Vienna Airport are also being increased. In partnership with Wizz Air, TUI will provide three flights per week to Corfu and two flights per week to Zakynthos, Madeira, and Tenerife. These new options complement Austrian Airlines’ summer programme, which includes three flights per week to Burgas as well as additional flights to Chania.

Additional amenities for passengers

On TUI and Wizz Air flights, passengers will benefit from complimentary airport check-in, one 10 kg hand baggage allowance, and one 20 kg checked baggage allowance. These added amenities, combined with competitive ticket prices, make the offer particularly appealing to budget-conscious travellers.

TUI also offers an extensive selection of accommodation options alongside its flights. Its own-brand hotels include the TUI Kids Club Roda Beach Resort & Spa on the island of Corfu, which features lush gardens and a family-friendly sandy beach. For travellers prioritising affordability, the TUI Suneo Perla in Sunny Beach, Bulgaria, is an excellent choice.

Wizz Air’s ‘All You Can Fly’ programme back on offer

According to Világgazdaság, Wizz Air has relaunched its “All You Can Fly” membership programme, which offers unlimited flights for one year for EUR 599. However, the programme comes with certain restrictions. For instance, passengers can only book seats for available destinations, and bookings must be made at least 72 hours prior to departure. After paying the membership fee, the first flight is free, but each subsequent ticket costs EUR 9.99.

The “All You Can Fly” scheme has proven immensely popular. During its previous promotion, when it was launched at introductory prices, 10,000 memberships sold out within just 48 hours. In this latest round, the offer is again available in limited quantities. This programme is particularly attractive for frequent flyers travelling to short-haul destinations.

The collaboration between TUI and Wizz Air continues to expand travel options for holidaymakers. Ongoing developments and improvements in passenger comfort are making the travel experience more enjoyable than ever, whether for family holidays or cost-effective short getaways. This dynamic growth in services is set to attract even more travellers in the upcoming season.

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UN Counter-Terrorism Office in Budapest to expand Hungarian staff under new agreement

szijjártó UN Counter-Terrorism Office in Budapest

The United Nations Office of Counter-Terrorism in Budapest will employ further Hungarian experts under a recently signed agreement, Foreign Minister Péter Szijjártó said on Friday.

In a Facebook post, the minister noted his Thursday talks with Vladimir Voronkov, UN’s under-secretary-general for counter-terrorism, and said a threat of terrorism was facing people in a number of places across the world, mentioning the Sahel in Africa, Syria in the Middle East, and Pakistan and Afghanistan in Asia. Terrorism, he added, had become a global challenge, affecting regions that had so far been considered safe. “The UN’s most important task should be a successful fight against terrorism,” Szijjártó said.

The UN centre in Budapest currently employs 28 people, including 8 Hungarians, he said, adding that the office was serving more and more functions, including monitoring the international movements of terrorists and coordinating actions to thwart such activities. Under the new agreement, one-third of the UN facility’s staff will be Hungarian, Szijjártó said.

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Looking for something festive and crowd-free? Budapest’s Christmas markets gain global recognition

Óbuda Advent fair christmas markets

Budapest has once again earned a place among the world’s top destinations for Christmas markets, according to a DiscoverCars.com survey. The study ranked the Hungarian capital’s festive fairs as the sixth least crowded globally, making them a perfect choice for those seeking a magical yet relaxed holiday experience.

DiscoverCars.com’s ranking was based on factors such as the markets’ duration, visitor-to-local ratio, and the city’s geographic size. Budapest scored 78 out of 112 points, standing out for its balance between festive atmosphere and manageable crowds. While the city sees a high number of visitors per resident (396 visitors per 100 locals), its density of visitors per 100 locals per square kilometre remains relatively low at 2.0, especially compared to cities like London, with a staggering 155.4.

Óbuda Advent fair
Photo: Facebook/Advent Óbudán

Budapest boasts the longest Christmas markets

Budapest’s Christmas markets also boast the longest duration among the top 10, running for 47 days. The iconic Vörösmarty Square market offers over 100 stalls filled with unique gifts, festive foods, and artisan crafts, creating the perfect backdrop for a holiday stroll. For a cosier experience, the Óbuda Advent Fair offers weekend-only festivities, including concerts and puppet shows, making it ideal for families with young children.

“Crowd management is key to enjoying Christmas markets,” said Aleksandrs Buraks of DiscoverCars.com. He emphasised Budapest’s unique charm, festive ambience, and numerous attractions, calling the markets an excellent family-friendly destination during the holiday season.

Globally, Berlin claimed the top spot with 97 points, followed by Warsaw, Madrid, Vienna, and Krakow. With Budapest ranking sixth, it remains a must-visit destination for Christmas market enthusiasts looking for a magical yet stress-free holiday experience.

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