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Hungary Now 2nd Most Important Film Production Base in Europe

• 4 Oct 2024 11:10 AM

Hungary has become the second most important centre of film production in Europe after London, Csaba Kael, the government commissioner for film, said opening the Made in Hungary film festival in the UK capital.

Speaking at the Hungarian Cultural Centre, Kael said over 500 international productions had been made in Hungary over the past 20 years, drawn by the country's unified tax rebate system, the level of security and its outstanding studios.

He said there were five studios in and around Budapest, and that capacity would climb by 22pc when the expansion of the National Film Institute's base in Fot, on the outskirts of the capital, was completed.

He also pointed to the excellence of Hungary's film industry professionals, capitalising on 123 years of accumulated know-how. The ratio of Hungarian crew on international productions stands at 80pc, he added.

Last year, USD 910m was spent on film productions in Hungary, four times the amount in 2018, he said. The number of productions with budgets over USD 1.5m doubled, he added.

Kael noted that Hungarian film professionals had won 27 Oscars since 1934.

Hungarian Movie Days serves as a showcase of Hungary's film industry for British producers and production companies, he said.

Hungary makes strides in improving business environment

Hungary is among the best performing countries in the World Bank's Business Ready 2024 report that assesses the regulatory framework and public services directed at companies, the National Economy Ministry said.

Hungary ranked at the top of the regulatory framework pillar of the B-Ready 2024 report, among 50 countries.

It was in fifth place in the public services pillar and in 14th in the operational efficiency pillar.

Source: 
MTI - The Hungarian News Agency, founded in 1881.

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