Nearly USD 1 Bn Spent by Int'l Filmmakers in Hungary in 2023

Almost USD one billion were spent by foreign movie productions in Hungary last year, quadrupling the amount spent in 2018, it was revealed at a panel discussion at the 77th Cannes International Film Festival.

After the event held with the participation of producers Ildikó Kemény, Robert Lantos and Mike Goodridge on Friday on the challenges facing Hungary's fast-growing film industry, Csaba Káel, the government commissioner responsible for the development of the Hungarian national film industry, told MTI that after joining the European Union, Hungary was the first Central and Eastern European country 20 years ago to launch a tax refund system for film production. This also generates significant tax revenue for Hungary, as well as a very significant advertising and promotional impact for the country, as many star productions are returning, he added.

In his opinion, the rapid growth is partly due to the fact that when the coronavirus epidemic stopped many shootings in Hollywood, Hungary developed a regulatory system that allowed certain film works to continue during the epidemic. This allowed the super-production ‘Dune’ to resume filming in Hungary at a time when it was not yet possible to film in the United States, and this led to the withdrawal of many big-budget films to Hungary.

"We had to concentrate on not losing the productions that did return to Hungary, and we supported them very strongly from a professional point of view, and we started to strengthen co-production projects, which resulted in dozens of co-produced films," he pointed out.

The development of the Hungarian film laboratory has also started, which is important because there are hardly any places in Europe where film material is produced.

Hungary has also started to expand its capacity by increasing the number of productions, and as part of the economic development tenders after the coronavirus epidemic, studio development has begun: this year, four new studios will be completed in Fót, just northeast of Budapest, covering an area of 10,000 square meters. In total, studio capacity in Hungary will increase by 22%, he said.

He recalled that cooperation with the music industry has also been strengthened. He cited as an example the fact that the music for Francis Ford Coppola's film ‘Megalopolis’, which was screened in the official competition of the Cannes Film Festival, was recorded in Budapest with the assistance of the National Philharmonic Orchestra. The tourism industry has also forged closer links with film productions, with hotel developments increasing the availability of five-star hotels and other accommodation for those who come to Hungary for longer stays to produce series.