Hungary: facts and figures Key factors of competitiveness.

Hungary: facts and figures

Key factors of competitiveness

Hungary

Land: 93,030 km²Population: ~10 million

GDP/capita, at PPP (2012): EUR 16,700/ USD 21,456

Source: Eurostat, IMF

Location: a market of 507 million EU citizens

with access to the market of 205 million people of Russia,

Ukraine and the Western Balkan countries

Overview

EU

GDP

Export of goods and services

Employment and wages

Inflation

• EU-member since 2004

• GDP growth (2013Q3): 1,7%• Forecast (2013): 0.9%; (2014): 2%

• Export volume growth (2012): 1.7% • Forecast (2013): 4.5%; (2014): 5.8%

• Average gross wage (2012)*: €770.5; $989.8• Unemployment rate (June-Sept 2013): 9.8%

• Inflation rate (Sept 2013): 1.4%• Forecast (2013): 1.9%

• Government balance (2012): -1.9%• Forecast (2013) : -2.7% (% of GDP)

*Exchange rate: 1 €= 289.42 HUF, 1 $=225,37 Source: HCSO, Draft Budget 2014

Budget balance

Economy and Economic Policy

Source: Eurostat

Nominal GDP in Hungary million EUR

2008 2009 2010 2011 2012 80,000

85,000

90,000

95,000

100,000

105,000

110,000

1055 BUDAPEST, HONVÉD UTCA 20. TELEFON: (+36) 1 872 6699 FAX: (+36) 1 872 6699 WWW.HITA.HU

Source: Eurostat

Nominal GDP in Hungary million USD

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 110,000

115,000

120,000

125,000

130,000

135,000

140,000

145,000

150,000

155,000

160,000

Source: Hungarian Central Statistical Office

Gross Value Added by sectors in Hungary (2012)

Manufactur-ing23%

Wholesale and retail

trade, repair of motor vehicles

and motor-cycles10%Real estate activities*

9%Public administration and

defence, compulsory social security

8%Transportation and storage

6%

Information and com-

munication5%

Professional, scientific and technical ac-

tivities5%

Agriculture, forestry and

fishing5%

Education5%

Financial and insurance activities

4%

Others20%


YearImport

(Million €)Export

(Million €)Total Trade

(Million €)Trade Balance

(Million €)

2008 73,699.71

73,380.29

147,080.01 -319.42

2009 55,401.18

59,139.32

114,540.50 3,738.14

2010 65,933.67

71,448.82

137,382.49 5,515.16

2011 72,916.88

79,977.57

152,894.45 7,060.70

2012 73,297.49

79,952.02

153,249.52 6,654.53

International trade of Hungary


YearImport

(Million $)Export

(Million $)Total Trade

(Million $)Trade Balance

(Million $)

2008 108,820.32 108,233.10 217,053.41 -587.22

2009 77,273.44 82,572.17 159,845.61 5,298.73

2010 87,434.15 94,749.27 182,183.42 7,315.12

2011 101,375.45 111,217.66 212,593.11 9,842.21

2012 94,307.66 102,830.36 197,138.02 8,522.70

International trade of Hungary


Geographical distribution of Hungarian trade (2012)

70.88%

29.12%

Intra EU-28Extra EU-28 77.55%

22.45%

43.68%

30.23%

13.45%

5.96%

3.61%0.87%2.08%

IMPORT EXPORT

41.49%

30.51%

10.98%

7.27%

7.63%0.06% 2.06% EU-28

EU-15

New EU members (2004+2007+2013)

Extra - EU-28 coun-tries of Europe

Asia

Africa

America


Main trade partners of Hungary (2012)

Main Import Partners (2012, Million EUR)

Germany 18 048

Russia 6 405

Austria 5 163

China 4 206

Slovakia 4 146

Poland 3 420

Italy 3 241

Netherlands 2 943

France 2 647

Czech Republic 2 609

Main Export Partners (2012, Million EUR)

Germany 19 990

Romania 4 767

Slovakia 4 705

Austria 4 598

Italy 3 721

France 3 689

United Kingdom 3 322

Czech Republic 3 102

Poland 3 031

Russia 2 553

24.62%

8.74%

7.04%

5.74%5.66%4.67%

4.42%4.01%

3.61%

3.56%

27.93%

Germany

Russia

Austria

China

Slovakia

Poland

Italy

Netherlands

France

Czech Republic

Others

25.72%

6.13%

6.05%

5.91%4.79%4.75%4.27%

3.99%

3.90%

3.28%

31.21%

Germany

Romania

Slovakia

Austria

Italy

France

United Kingdom

Czech Republic

Poland

Russia

Others

Growing surplus in balance of trade

Source: : Hungarian Central Statistical Office

Million euro

2008 2009 2010 2011 2012-2,000

-

2,000

4,000

6,000

8,000

-319

3,738

5,515

7,061 6,655

Balance of trade

Source: IMD, World Competitiveness Online 2012

Percentage of GDP (2011)

Hungary Czech Republic

Slovak Republic

Slovenia Poland Romania Bulgaria-8

-6

-4

-2

0

2

4

6

86.94

5.02

2.32

-1.39

-3.94

-7.13-7.73

Improving balance of current account

Source: HCSO

Percentage of GDP

2008 2009 2010 2011 2012-8.0

-7.0

-6.0

-5.0

-4.0

-3.0

-2.0

-1.0

0.0

1.0

-7.3

-0.2

0.2 0.41.0

Trade to GDP ratio (%)

Source: IMD World Competitiveness Online 2012

Hungary Slovak Republic

Slovenia Czech Republic

Bulgaria Poland Romania0

20

40

60

80

100 90.06 88.5582.46 82.28

67.18

44.90 42.14

Internationalized, open economy


Source: Eurostat

Government budget balance

Hungary Romania Slovenia Poland Czech Republic

Slovakia-4.5

-4.0

-3.5

-3.0

-2.5

-2.0

-1.5

-1.0

-0.5

0.0

-2.0

-3.0

-3.8 -3.9

-4.4 -4.5

Percentage of GDP (2000-2011)


Export of goods

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 20110

10

20

30

40

50

60

70

80

90

HungaryCzech RepublicPolandRomaniaSlovak RepublicSlovenia


Percentage of GDP (2000-2011)

Export of commercial services

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 20110

2

4

6

8

10

12

14

16

HungaryCzech RepublicPolandRomaniaSlovak RepublicSlovenia

Medium term economic outlook

Source: Draft Budget 2014

Forecast of main economic indicators

2012 2013 2014 2015 2016

GDP growth (%) -1.7 0.9 2.0 2.3 2.5

Inflation (%) 5.7 1.9 2.4 3.0 3.0

Current account balance (% of GDP)

1.6 3.2 3.3 3.1 2.9

Export growth (%) 1.7 4.5 5.8 6.1 6.1

Budget balance (% of GDP) -2.7 -2.7 -2.9 -2.6 -2.4

Government debt (% of GDP) 79.2 77.4 76.9 - -

Short overview of aims and achievements

Hungarian Economic Policy2013

Most important aims of theHungarian economic policy

• Securing financial and fiscal stability: introducing strict fiscal policy• Public debt target: 50%. • Budget deficit target: < 3%. • Inflation target of the Central Bank of Hungary: 3%

• Turning welfare state into an economy based on productive labour, by increasing the level of employment

• Improving business environment • Promoting foreign and domestic private investments

• Financial consolidation• Since 2011 Q3, the external debt has decreased by some 18.7% of

GDP.• The budget deficit has been succesfully kept below 3% of GDP

from 2012• 2013: excessive deficit procedure (EDP) has been abrogated by

the EU• Inflation rate is record low: 0,9% in October 2013, and the yearly

rate is expected to be 1.9% for 2013 and 2.4% for 2014

• Labour market tendencies• Employment reached a historic peak, it has been rising steadily

since 2010 S2• In the period June-August 2013, employment raised by 1.7%

Achievements

• Tax system– Gradual move from income taxes based system to a consumption

taxes based one– 16% flat-rate personal income tax – A corporate tax rate of 10% applies to tax base up to HUF 500

million

• Business environment– More than 30 strategic cooperation agreements between the

Government and companies

• Structural reforms– Ongoing and concluded reforms of the pension system, public

transport, higher education, state and municipal financing etc.

Achievements

The New Labor Code

• Main purpose: to create a labor law system which is in line with new

market conditions

• More flexibility: parties have more freedom to negotiate

• Employment, established for a definite period can also be

terminated by (ordinary) notice

• Extra work (overtime): 250 hours / year, in collective agreement:

300 hours / year

• Atipical forms of employment

Job protection action plan

• The government has launched a new action plan to improve the situation

of

• disadvantaged employees (elderly, young and unskilled people)

• jobseekers

• enterprises

• Main measure:

• cutting employer’s contributions

Type of employeesThe contributions

payable by the employer has been reduced:

The new rate is:

below the age of 25 years

from 28.5% by 14.5%.

14%. above the age of 55 years

unskilled

entrants below the age of 25 years • in the initial two years

by 100 %,

• from the third year by 14.5% (nearly halves)

0% in the initial two years,

14% from the third year

long-term unemployed

mothers with small children

Job protection action plan Contribution allowances up to a certain level of wage

FDI in Hungary

Million EUR

New methodology from 2008

Source: National Bank of Hungary, 2013

Repurchase of MOL shares ;

Devaluation of HUF

Stock of Foreign Direct Investments in Hungary

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

EUR (2012)

Source: wiiw, 2013

Second highest FDI stock/capita in CEE

Czech Republic

Hungary Slovakia Slovenia Bulgaria Poland Romania0

2,000

4,000

6,000

8,000

10,000

9834

7918 7762

57185191

4537

2963


Source: Eurostat, Hungarian National Bank, OECD

Inward FDI stock


Slovak Republic

Poland Romania Slovenia0

10

20

30

40

50

60

70

80

90 80.30

67.70

57.40

45.8042.40

34.10

Stock of FDI in Hungary by origin (2012)

Source: Hungarian National Bank, 2013

Europe85.54%

American countries11.39%

Asian countries2.87%

Other regions0.20%

Stock of FDI in Hungary by country of origin (2012)


Germany24.86%

Luxembourg13.60%

Netherlands12.13%Austria

11.55%

France4.33%

Switzer-land

3.79%

United Kingdom3.64%

United States2.46%

Belgium 2.12%

Other Countries21.52%

Stock of FDI in Hungary by sector (2012)


Services71.35%

Manufacturing20.35%

Electric-ity, gas,

stem and air condi-tiong supply4.05%

Construction1.17%

Agriculture, hunting and forestry0.60%

Other2.47%

Rank Region/Economy

1 HUNGARY

2 Belgium

3 Czech Republic

4 Romania

5 Hong Kong, China

6 Poland

7 Malaysia

8 Estonia

9 Bolivia

10 Colombia

11 Switzerland

12 Sweden

13 Singapore

14 Finland

15 United Kingdom

Hungarian economy has the largest contribution by FDI therefore achieved the first

position.

UNCTAD FDI Contribution Index, 2012

Main investment decisions in 2013

• Coloplast, medical devices manufacturing• OPEL, engine manufacturing • ZF Lenksysteme, electric steering systems• Infineon: semiconductor components producing • Hankook, tyre manufacturing• Hewlett-Packard, IT• Sauflon, contact lens manufacturing• Samsung: electronics manufacturing• Procter & Gamble, personal care products manufacturing• General Electric, establishment of an oil & gas branch• Greif, shared service center• Bridgestone, tyre manufacturing• Jabil, electronics manufacturing• Thai President Foods, instant noodle manufacturing• Systemax, shared service center• Bosch, R&D facility• Flextronics: electronics manufacturing• DHL: Express logistics

Benefit from a good balance of quality and cost of labour

Take advantage of high-quality infrastructure and a stable business environment

Competitiveness in general

Competitive tax system

• Low corporate income tax: • rate for the first HUF 500 million (EUR 1.69 million, USD 2.22 million) of

the tax base is 10%; • beyond HUF 500 million, it is 19%.

• Tax incentives and allowances (development tax allowance, R+D tax incentives)

• Flat personal income tax: 16%

37

Source: KPMG, 2013 November *: effective tax rate

CEE countries Corporate income tax

Slovakia 23%

Czech Republic 19%

Poland 19%

Slovenia 17%

Romania 16%

Hungary 10-19%

Competitive Labour Costs

Source: Eurostat

Norway

Denm

ark

Luxem

bourg

Nether

lands

Austria

Irela

nd

United K

ingdom

Cypru

s

Slove

nia

Portugal

Estonia

Hungary

Latvi

a

Roman

ia0

10

20

30

40

50

60

7.5

Total hourly labour costs (€)2012

HUNGARY 7.5

EU 27 23.4

Competitive Labour Costs

Source: Eurostat

Norway

Sweden

Denmark

Belgiu

m

Luxembourg

France

Netherla

nds

Finla

nd

Austria

Germ

any

Irela

ndIta

ly

United K

ingdom

Spain

Cyprus

Gre

ece

Slovenia

Malta

Portugal

Croatia

Estonia

Slovakia

Hungary

Poland

Latvia

Lithuania

Romania

Bulgaria

0

10

20

30

40

50

60

70

Total Hourly Labor Costs 2012 ($)

EU 27 30.1

HUNGARY 9.6

Total hourly labour costs in the services of the business economy, 2012, (€)

Source: Eurostat

2008 2009 2010 2011 20120

5

10

15

20

25

30

35

40

45

8.3 7.5 7.6 7.8 8

21.8 22.2 22.6 23.2 23.7

33.731.6

35.9

38.9

41.9

Hungary

Czech Republic

Slovenia

United Kingdom

European Union (27 countries)

Ireland

Germany

Austria

Sweden

Total hourly labour costs in the services of the business economy, 2012, ($)

Source: Eurostat

2008 2009 2010 2011 20120

10

20

30

40

50

60

12.2 10.5 10.1 10.9 10.3

32.1 31.0 30.032.3

30.4

49.6

44.147.6

54.1 53.8

HungaryCzech RepublicSloveniaUnited KingdomEuropean Union (27 coun-tries)IrelandGermany AustriaSweden

Competitive average wages

Source: wiiw, Eurostat, national statistics

Slove

nia

Czech

Republic

Estonia

Croatia

Poland

Slova

kia

Monte

negro

Hungary

Latvia

Lithuania

Kazakh

stan

Serbia

Romania

Mace

donia

Bulgaria

Ukrain

e0

200

400

600

800

1000

1200

1400

16001435

986 976 960 927 891 876 824710 671 664

535 500424 383 355

Gross wages, Industry (€) 2013 June

Competitive average wages

Source: wiiw, Eurostat, national statistics

Slove

nia

Czech

Repu...

Estonia

Croatia

Poland

Slova

kia

Monte

negro

Hungary

Latvia

Lithuania

Kazakh

stan

Serbia

Romania

Mace

donia

Bulgaria

Ukrain

e0

200

400

600

800

1000

1200

1400

1600

1800

2000 1873

1287 1274 1253 1210 1163 11431075

926 876 867

699 653554 500 463

Gross wages, Industry ($) 2013 June

High average yearly working hours (2011)


Hungary Slovenia Czech Republic

Slovak Republic

Poland Romania1,600

1,650

1,700

1,750

1,800

1,850

1,900

1,950 1,909

1,870 1,859

1,827

1,756

1,712

Labour Productivity GDP(PPP) per person employed per hour

Source: IMD World Competitiveness 2012

2004 2005 2006 2007 2008 2009 2010 2011 -

5.00

10.00

15.00

20.00

25.00

30.00

35.00

21.09 22.0724.56 25.35

27.63 28.19 28.66 28.85

BulgariaCzech RepublicHungaryPolandRomania

Gross wage levels in European cities

Source: UBS, Wealth Management Research, Prices and Earnings, 2012 September

New York=100 (2012)

Zurich Oslo

Mun

ich

Stock

holm

Helsin

ki

Lond

on

Amste

rdam

Dublin

lyon

Barce

lona

Rome

Athen

s

Talin

n

Pragu

e

War

saw

Budap

est

Sofia

0

20

40

60

80

100

120

140

Labor regulations favor business activities


Czech Republic

Hungary Slovak Republic

Romania Poland Bulgaria Slovenia0

1

2

3

4

5

6 5.535.28 5.17 5.13

4.584.26

2.47

Unemployment legislation provides an incentive to look work for



Romania Poland Bulgaria Slovak Republic

Slovenia0

1

2

3

4

5

6 5.37 5.33 5.13

4.29

3.62

2.762.25

Higher education

Number of institutions in higher education 68

Number of locations 183

Number of students in higher education 360,000

Majoring in:

Business and Administration81,923

Technical edu. 63,388

Informatics10,724

Foreign languages 9,113

Number of tertiary level graduates 55,154

• 92.4 % of fresh graduates has

English language skills

• 2nd most popular foreign

language: German (70%)

• Followed by: Russian, French,

Italian, Spanish

• All degrees include foreign-

language certificate and

computer skills

Academic year 2011/2012

Well trained, creative and flexible human capital

Quality of math and science education in V4 countries (2013)

Source: World Economic Forum: Global Competitiveness Report 2013-2014

Hungary Poland Czeh Republic Slovak Republic3.4

3.6

3.8

4

4.2

4.4

4.6

4.8

4.6

4.1

4

3.9

Quality of math and science education in V4 countries (2013)

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University education meets the needs of a competitive economy


Czech Republic

Hungary Poland Slovenia Romania Slovak Republic

Bulgaria0

1

2

3

4

5

6 5.335.14 5.10

4.25

3.162.71

2.09

Intellectual property protection in V4 countries (2013)


Hungary Czeh Republic Slovak Republik Poland3.6

3.65

3.7

3.75

3.8

3.85

3.9

3.95

3.9

3.8

3.7 3.7

Strong scientific capacity

The quality of scientific research institutions

The World Economic Forum ranks Hungary No. 21 within 148 countries

Country Ranking

Israel 1

Switzerland 2

United Kingdom 3

Germany 6

Japan 9

Ireland 14

Hungary 21

Austria 23

Spain 36

Italy 40

China 41

Poland 55

Romania 64

Slovak Republik 70Source: WEF Global Competitiveness Report, 2013-2014

Utility patents granted/million population (2013)


Hungary Czeh Republic Slovak Republik Poland0

5

10

15

20

2523.3

15.3

7.3 6.9

Quality of research institutions in V4 countries (2013)


Hungary Czeh Republic Slovak Republik Poland0

1

2

3

4

5

6

5.24.9

4

3.6

Availability of scientists and engineers in V4 countries (2013)


Hungary Czeh Republic Slovak Republik Poland3.7

3.8

3.9

4

4.1

4.2

4.3

4.4

4.3

4.2 4.2

3.9

Competitiveness in general

Excellent access to key markets

At the cross roads of 4 main European

transportation corridors

Extensive road and railway transportation

network

Highly developed logistics and

telecommunications infrastructure

Expanding motorway network

Vienna, 1 hrRotterdam, 12 hrs

Prague, 5 hrsMunich, 6 hrsHamburg, 8hrs

Warsaw, 10 hrs

Kyiv 12 hrs

Zagreb, 1 hr Trieste, 6 hrsKoper, 6 hrs

Bucharest, 10 hrsConstanza, 12 hrs

Nethe

rland

s

Belgi

um

Hunga

ry

Slove

nia

Germ

any

Switzer

land

Unite

d Kin

gdom

Denm

ark

Czech

Rep

ublic

Italy

Sweden

Franc

e

Irela

nd

Spain

Austri

a

Estoni

a

Lith

uani

a

Portu

gal

Greec

e

Slova

k Rep

ublic

Croat

ia

Ukrai

ne

Finla

nd

Bulga

ria0

0.5

1

1.5

2

2.5

3

3.5

4

4.5

5

Road densitykm/km2

Source: IMD, World Competitiveness Yearbook, 2012

Quality of roads in V4 countries (2011)


Slovakia Poland Bulgaria Serbia Romania0

0.5

1

1.5

2

2.5

3

3.5

4

43.7 3.6

3 2.9 2.8

2.1

Source: The Global Competitiveness Report 2013-2014

Czech

Republic

Luxem

bourg

Switzerla

nd

Slova

k Republic

Poland

Slove

niaIta

ly

Croatia

Bulgaria

Portugal

Irela

nd

Sweden

Finla

nd

Norway

Kazakh

stan

Icela

nd -

0.02

0.04

0.06

0.08

0.10

0.12

0.14

Density of the railroad networkkm/km2


Railway network in Hungary

V0 Railway (future development)

International airport

Number of days to start a business (2012)

Hunga

ry

Slove

nia

Roman

ia

Slova

kia

Bulga

ria

Czech

Rep

ublic

Polan

d0

5

10

15

20

25

30

35

5 6

10

1618

20

32

No. days to start a business

Source: The Global Competitiveness Report 2013-2014

Key reasons to invest in the Hungarian Shared Service Sector

• Ca. 80 exisiting SSCs operating in Hungary• Investment friendly political measures (financial support, tax allowances)• Competitive taxation system• Good balance of costs and quality• High level of educational system• Close cooperation between educational institutions and companies• Excellent office infrastructure • Quality of life • 21 International schools• Favourable location: NY -6 hrs, Tokyo +7 hrs

„A” class offices

Stock in Budapest (2013 H1): 3,164,000 m2

Average rental price (headline rents) :Budapest

EUR 10-13/m2/month (non-central submarkets) EUR 12-15/m2/month (central submarkets) EUR 7-10/m2/month (periphery)

Vacancy rate in Budapest in 2013 H1: 19.9%

Business infrastructure in Hungary: - Top-quality telecommunications services- Easy access to 3T, xDSL connections

Corvin Offices

Millennium Tower

Eiffel Square

Lively Office market

Source: CBRE 2013 H1

Ready-made industrial sites

• Green- and brownfield investments• Good access to highways• Excellent infrastructure services• Turnkey solutions• New technology and logistical parks• Warehousing• Customs arrangements• Forwarding• Administration (authority permits)• Financial services• Legal consulting• Extra services

More than 210 industrial parks are available for manufacturing activity

Nyíregyháza, IP

Tatabánya, IP

Average indicative prices by regions 2012

Southern Great Plain

Northern Great Plain

Northern Hungary

Central Transdanubia

Source: Hungarian Investment and Trade Agency

The land prices depend on the condition of the sites (eg. utility capacities, location)

Developed Industrial Sites

18.3

13

16.6

8.8

10.7

20.1

19.7

19.2

Average land prices in the industrial parks by regions (EUR/m2 + VAT)

Average land prices in industrial or other development sites (out of parks)(EUR/m2 +VAT)

29.5

30.1

16.9

10

21.9

17.5

Central HungaryWestern

Transdanubia

Southern Transdanubia

Average indicative prices and rental fees by regions

2012

Southern Great Plain

Northern Great Plain

Northern Hungary

Central Transdanubia

Source: Hungarian Investment and Trade Agency

The hall prices and rental fees depend on the condition of the sites (eg. utility capacities, location)

Manufacturing halls

265

3.3

280

3.4

285

3.7

Average prices of manufacturing halls by regions (EUR/m2 + VAT)

Average rental fees of manufacturing halls by regions(EUR/m2/month +VAT)

Central HungaryWestern

Transdanubia

Southern Transdanubia

397

4.1309

4.0241

4.1

222

3.3

Industrial rents in industrial zone

Source: Economist Intelligence Unit Database 2012

Average price per square meter/year, USD (2011)

POLAND HUNGARY BULGARIA CZECH REPUBLIC

ROMANIA SLOVAKIA0

20

40

60

80

100

120

65.9870.83

74.06 74.81 76.43

111.09

Expats like Hungary

• International schools in BudapestBritish, American, German, Austrian, French, Chinese, Japanese etc.

• High standard private medical services

• Entertainment facilitiesThermal baths, wellness, recreation centres throughout the countryRich cultural lifeExcellent food and wine

• According to Condé Nast Traveler readers Budapest is the second best city on earth

Budapest is the second best city in the World

According to Condé Nast Traveler readers Budapest is the second best city on earth

1. San Miguel de Allende, Mexico2. Budapest, Hungary, Florence, Italy4. Salzburg, Austria5.Charleston, South Carolina, United States, San Sebastián, Spain7. Vienna, Austria8. Rome, Italy9. Siena, Italy10. Québec City, Canada, Cape Town, South Africa, Bruges, Belgium13. Vancouver, Canada14. Kyoto, Japan15.Prague, Czech Republic; Kraków, Poland17.Victoria, Canada; Sydney, Australia; Santa Fe, New Mexico, United States20.Seville, Spain; Beirut, Lebanon22.Paris, France; Melbourne, Australia24.Venice, Italy; Barcelona, Spain

Source: Top 25 Cities in the World, Readers' Choice Awards 2013

Quality of life in Hungary

Hungary excels in civil liberties, safety and health.

Source: International Living, 2011

2-3. Malta 764-5. France 754-5. Monaco 75…16-19. Hungary 7216-19. Argentina 7216-19. Norway 7216-19. Slovenia 72…27-30. Poland 7027-30. Czech Republic 7031-35. Bulgaria 6938-41. Slovakia 6744-48 Romania 65

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Date post:	31-Mar-2015
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Hungary: facts and figures Key factors of competitiveness.

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