Top investment sectors in Hungary with a growing market potential
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There are several top investment sectors Hungary with a growing market potential. According to recent data, the Hungarian economy continued to grow amidst COVID-19. Indeed, the Hungarian investment climate is well-situated with favorable fiscal conditions and a stable legal framework. In addition, there is a wide availability of skilled workers, transportation connections, and public incentives to support a lucrative investment climate. Therefore, investors need to know the top sectors in Hungary with a growing market potential. This way, they can generate profit from the fastest-growing industries. Read on to discover the top investment sectors Hungary with a growing market potential.
Agriculture Sector
First and foremost, Hungary has one of Europe’s fastest growing agriculture sectors. According to recent data, the sector has created over 600,000 jobs in the past 50 years. With a resilient, export-driven economy, Hungary is one of the world’s leading poppy seed producers. In addition, they also grow other major crops such as corn, wheat, and sugar beets. Despite the COVID-19 crisis, wages in this sector are continuing to rise. Simultaneously, increased purchasing power, solid demand in the food sector, and stable foreign trade are also driving growth. Of course, technological improvements are also driving output and growth as well. Definitely, agriculture is one of the top investment sectors Hungary with a growing market potential.
Information & Communications Technology
Next, the information and communications technology (ICT) industry is one of the fastest growing investment sectors Hungary. Notably, research and development in the ICT sector is highly concentrated on software development. Indeed, many outsourcing companies and startup implement the latest innovative tools to build custom applications. For example, many software teams use a JFrog container registry to manage their Helm repository. With this integration, developers can access privacy, high availability, and massively scalable storage for their Helm charts. Plus, they can facilitate fully automated software delivery for Kubernetes deployments. With such sophisticated tech innovations, the ICT industry is one of the top investment sectors Hungary.
Automotive Industry
In addition, the automotive sector is one of Hungary’s core investment industries. Notably, it generates almost 20% of the country’s total exports. With over 600 companies in the region, the automotive sector employs nearly 100,000 people. Additionally, large-scale investments from original equipment manufacturers (OEMs) are drawing major suppliers and production facilities to the country. Simultaneously, many small and mid-sized automotive companies have partnered with these manufacturers. Naturally, this is supporting further growth in the sector. Plus, many academic institutions have a strong automotive research and development focus. Thus, they are paving the way for more technological and manufacturing innovations. In short, the automotive industry is one of the top investment sectors Hungary.
MedTech Field
Moreover, the Hungarian MedTech industry is one of the top investment sectors with market potential. Indeed, over 45,000 people work for export-driven medical manufacturers. In addition, the local annual production has recently exceeded $900 million. Currently, manufacturers are producing electromedical, blood pressure, and TENS equipment. In addition, the region is also a key supplier for incubators, infusion pumps, and specialized x-ray equipment. With a growing production ecosystem, Hungary also has excellent opportunities in health technology and dental equipment. For example, electronic medical records (EMR) systems, patient monitoring systems, and video endoscopes have some of the best sales potential in the country. Absolutely, the Hungarian MedTech industry is one of the top investment sectors Hungary.
Manufacturing Business
Furthermore, manufacturing is another top Hungarian investment sector with strong market potential. With its strategic location, Hungary offers excellent transportation infrastructure. In addition, it also offers access to major trade routes. Simultaneously, Hungary is in a great location to distribute supply to Eastern and Western Europe. Since corporate tax rates are one of the lowest in the EU, investors can benefit from highly developed industrial property. Additionally, local and national governments often support Hungary’s manufacturing efforts. With legislation and grants, this can pave the way for a successful investment. Even more, manufacturing has the potential to work with powerful new technologies. In fact, AI technology is good for manufacturing, along with other solutions like ML and DL. Certainly, manufacturing is one of the top investment sectors Hungary to consider.
There are several top investment sectors Hungary with a growing market potential. First, agriculture is a major sector to invest in. Next, the ICT industry is another lucrative opportunity. In addition, the automotive industry is another top investment sector to consider. Moreover, MedTech is another investment sector that holds a high market potential. Furthermore, investors are also interested in Hungarian manufacturing for excellent transportation infrastructure. Consider these points to learn about the top investment sectors Hungary with a growing market potential.
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