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Hungarian TV, Film Production Praised By Hollywood Reporter

• 21 May 2019 8:12 AM
• Budapest Business Journal

With its mix of generous incentives, professional crews and state-of-the-art facilities, it’s no wonder Eastern Europe is hosting everything from art house hits (“Cold War”) to tentpole movies and high-end TV, The Hollywood Reporter commented.

The entertainment website notes that under the leadership of the late Hungarian-American producer Andy Vajna, “Hungary was the region’s pioneer, transforming its stodgy state-run film support system into a well-oiled production machine.”

Vajna died earlier this year, but the foundation he built remains, the report comments, noting that production spending in Hungary has topped USD 400 million annually since 2016.

“Budapest, the capital that can stand in for Paris, Berlin, Moscow, Amsterdam, Vienna, London or Buenos Aires, is the most popular location to shoot films in continental Europe,” notes Ágnes Havas, CEO of the Hungarian National Film Fund, pointing to a recent increase in Hungary’s tax rebate systems (from 25% to 30%) as an indication that the country remains a go-to spot for visiting productions.

Unlike the system used by some of its neighbors, Hungary’s incentives are extremely flexible and producer-friendly, allowing up to 20% of the eligible spend for the rebate to be spent outside of the country, hollywoodreporter.com notes.

Related links

Hungarian Film Mogul Andy Vajna Dies Aged 74

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Budapest Business Journal

Hungary's largest and oldest source of business and financial news in English. Since 1992 it has presented essential information on Hungarian business life, including international analyses about the country. These days the BBJ newspaper is published every other week, while it releases daily business news online including premium paid content.

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