Articles by Column


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COVID-19 Impact on CEE Region Banks

Sep 16, 2020

Fortunately, a strong banking sector in Central and Eastern Europe faced the constraints of the COVID-19 epidemic. However, there is a lot of uncertainty about the long-term outlook. The regional survey by the consulting firm Deloitte researched how financial institutions see their own future. “It has been several months since the start of the economic […]

Creditors’ Cartel Then and Now

The creditors’ cartel case that gradually developed into a decade-long proceeding since its outset in 2011, landing first before the Hungarian Competition Authority, then the Budapest Metropolitan Courts, eventually to be addressed at the European Court of Justice for preliminary ruling, seems to come to an end with the July 2020 decision of the Metropolitan […]

Financial Awareness Not Enough to Save Money

Sep 9, 2020

An extensive research on today’s 30s generation shows that they make responsible and conscious decisions about finances, it’s paramount for them to have savings, but only 23% percent of them can save on a regular basis while one in four can't put aside any money. Own real estate is one of the most important forms […]

Number of Tourism Nights Falling

Sep 8, 2020

In July 2020, as a result of the coronavirus epidemic, international tourists spent 75% and domestic tourists 18% fewer tourism nights in commercial accommodation establishments (hotels, boarding houses, camping sites, bungalow complexes and community hostels) in Hungary compared to the same period of the previous year. A summary by the country's Central Statistical Office says […]

Industrial Production Falls by 8,1%

Sep 4, 2020

In July 2020, the volume of industrial production in Hungary declined by 8.1% year-on-year. The degree of fall was 28.8% lesser than the nadir of April. Based on working-day adjusted data, production dropped by 7.7%. The effects of the altered economic processes, caused by the coronavirus epidemic, were still perceptible in this period, the Central […]

EU Record Inflation in Hungary

Aug 21, 2020

Hungarian inflation unexpectedly jumped to 3.8% percent in July. After that announcement last week by the country's Central Statistical Office said last week, it has now also become clear that nowhere in Europe such a rate of price rise has been measured, reports. The financial website notes that one-off effects also played a role […]

Investors' Interest Remains Strong in the CEE region

Aug 17, 2020

Investor appetite remains strong for CEE but a cautious approach is still being applied while markets try to settle, Colliers International reveals in its latest 'H1 CEE Investment Scene' report. CEE Investment volumes for the first half of 2020 reached ca. € 6.26 billion. This figure was boosted by 2 large portfolios totalling in excess […]

Hungarian Tech Firms Among the Fastest Developing

Aug 12, 2020

This year, three Hungarian companies have been added to the Deloitte Technology Fast 500 EMEA list, which ranks the fastest growing technology companies in Europe, the Middle East and Africa. This year’s list includes winning companies from 22 countries with an average growth rate of 1,258 percent in 2019 after 969 percent in 2018, a […]

Resilient Generations Create a More Livable Future

Aug 3, 2020

The Millennium and Z generations are determined and want to build a better future in the face of unprecedented health and economic problems caused by the COVID-19 pandemic, according to Deloitte's latest research. The results of the 2020 global survey suggest that these resilient generations may play a key role in creating ‘better normality’. In […]

Budapest Hungária Boulevard

Stagnating House Prices in Budapest

Aug 2, 2020

According to the latest house price index data by the National Bank of Hungary (MNB), house prices grew by 8.3% in Budapest in the period between 2019 Q1 and 2020 Q1. House prices were unchanged in Budapest quarter on quarter. As a result, this was the second consecutive quarter when house prices did not rise […]

Slight Increase in Economic Sentiment Index

Jul 30, 2020

After a shock-like fall in the outlook for domestic economic agents in April, there was a significant positive correction in May and June, according to GKI’s economic sentiment index. The economic sentiment index, prepared by the economic research institute GKI, rose only slightly in July, by two points, as a combined result of improving expectations […]

European Court of Justice

Privacy Shield Adequacy Decision Invalidated

The European Court of Justice (ECJ) invalidated the Privacy Shield adequacy decision: another milestone in the legislative development on international data protection law. The July 16, 2020 ruling of the European Court of Justice invalidated the Privacy Shield Agreement earlier established between the EU and the USA, an utmost important decision in the field of […]

Stagnating Residential Property Price Index

Jul 24, 2020

Stagnating price indices, fewer transactions and record-high demand in the past few months – these were some of the features of the Hungarian property market in Q2 2020. This period was highly influenced by the socio-economic changes brought about by the COVID-19 pandemic. Of all the property market indices the one published by the national […]

Demand for Transparency, Sustainability and Convenience

Jul 23, 2020

Two surveys, published in PwC’s 11th Global Consumer Insights Survey, examine the shopping habits and behavior of urban consumers before and after the COVID-19 pandemic, and how the global breakthrough has led to the faster spread of digital life. “At present, it is not clear at either global or local level how long the uncertainty […]

OECD Calls for a New Global Tax System

Jul 22, 2020

The OECD has set itself the goal of taking further steps to bring about a fair and equitable transformation of the global tax system within the framework of its new program, often referred to as BEPS 2.0, by developing two new tax concepts, referred to as pillars. "The first pillar of the program would allow […]

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