Fewer Large Companies In Hungary Are Foreign Owned

  • 9 Jul 2020 8:25 AM
  • Hungary Around the Clock
Fewer Large Companies In Hungary Are Foreign Owned
The proportion of large firms with annual revenue above Ft 1 billion that are foreign owned is on the decline, dropping from 41% in 2011 to 31% now, company information service provider Opten reports.

The number of companies with more than Ft 1 billion in annual revenues has increased by 50% from 6,500 in 2011.

Of the companies with revenues of at least Ft 100 million, 12% are foreign-owned, down from 18%.

The number of large German and Austrian companies is declining not only in relative terms but also in absolute terms compared to 2011.

The number of American-owned companies is on a sharp decline but the number of companies from the UK and Italy is rising.

The growth in businesses controlled from Ukraine is also rising, but this might be linked to the grey economy, Opten commented.

  • How does this content make you feel?

XpatLoop Media Partner

Hungary Around the Clock

Since 1995 Hungary Around the Clock has proven to be one of the most comprehensive sources of daily English-language news about Hungary. It covers ongoing domestic politics and foreign relations, as well as business and economic matters. For a free trial of HATC visit www.hatc.hu and click on 'Free Trial Subscription’.

Explore More Reports

  • Winner of Expat CEO in Hungary for 2024 Announced

    Winner of Expat CEO in Hungary for 2024 Announced

    • 24 Mar 2024 5:21 AM

    Chresten Bruun, general manager & senior vice president, EMEA Manufacturing in the Lego Group, won the Expat CEO of the Year title at the Budapest Business Journal’s annual awards gala, which was held for the 10th time on March 23 in the Grand Ballroom of the Corinthia Hotel Budapest.

  • Hungary-US Trade Record Broken

    Hungary-US Trade Record Broken

    • 8 Mar 2024 7:45 AM

    Hungarian-American bilateral trade set a new record, exceeding 9 billion dollars last year, while US investments continue to flow into Hungary, Péter Szijjártó, the minister of foreign affairs and trade, said in Washington, DC, noting that the United States is Hungary’s biggest export market outside the European Union.

  • New Immigration Law Could Pose Work Challenges for Expats in Hungary

    New Immigration Law Could Pose Work Challenges for Expats in Hungary

    • 21 Feb 2024 4:40 PM

    Many companies here are facing the issue that their foreign colleagues in leading and senior positions are treated in the same way as foreign guest workers under Hungary's new immigration law, because they lack a 'documented qualification', which could put them at several legal disadvantages.