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COVID-19 & Industrial Production

D&T
Jun 30, 2020

Reduced output in March and May in the automotive sector could change the typical activity curve in 2020, with busier summer months ahead to make up for lost time. Colliers International has just launched its recent research piece ‘COVID-19 & Industrial Production – The Spring Relevance” where it discusses the importance of particular months for […]

Cash register Figures Not Improving

D&T
Jun 26, 2020

In the first half of June, according to cash register data, store revenues were 3.7% lower than before, which is worse than the 2.6% decrease in May. In addition, people bought less in grocery stores, and the jump in online store revenues is also smaller than the April peak. The survey was made for the […]

Corporate Sustainability as Obligation

D&T
Jun 24, 2020

As a result of the COVID-19 epidemic, society expects even greater sustainability measures on the part of large corporations. At the same time, the European Union is moving towards climate neutrality, as part of which it would introduce a special carbon border tariff and extend non-financial reporting obligations to smaller firms. As Ákos Lukács, head […]

Hungarians' Use of Digital Channel Widens

D&T
Jun 16, 2020

As a result of the restrictions caused by the COVID-19 epidemic, Hungarian society made progress in the field of digitization in a quarter of a year – progress that otherwise would have taken a year and a half, according to Deloitte Digital’s 1,000-person representative customer survey. Changes in the utilities sector have also significantly transformed […]

House construction in Budapest

Less Transactions and Rising Market Bargain

D&T
Jun 12, 2020

The coronavirus pandemic led to a sharp fall in housing market activity at the end of March 2020; and construction activity is also expected to slow. Looking ahead, the market of new homes may be supported by the preferential, 5% VAT rate applicable in brownfield zones, says a report by the National Bank of Hungary […]

Digital Banking Increasingly Used by Hungarians

D&T
Jun 11, 2020

Banking habits have changed significantly changed in Hungary since 2018. Two thirds of those who previously only used a bank branch to manage their account already use a digital channel, and the role of mobile banking has also increased, according to Deloitte Digital representative research. Deloitte Digital has conducted a customer survey on a representative […]

Cartel-proof Cooperation of European Undertakings

The impact of the unprecedented shock of the pandemic is now tangible, clearly affecting enterprises in Europe. Undertakings are cautious in reopening their doors to the market and customers. Although the number of new infections is (reassuringly) on the decline, the prospects for the next half year period are still filled with uncertainty: undertakings seek […]

Residential building in Budapest

Housing Too Expensive in Hungary

D&T
Jun 2, 2020

Housing-related costs have increased disproportionately in Hungary in relation to family income. As a result, many households are unable to raise the payment of own resources for the purchase of their own home, they are forced to rent a home for lack of a better solution. However, an analysis by Deloitte Hungary says, renting is […]

Young Employees Need Support, Creativity, Flexibility

D&T
May 25, 2020

Although domestic companies recognize the needs of young employees, they do not respond adequately to them. That is according to a complex research by the Budapest Chamber of Commerce and Industry (BKIK) examining the Y and Z generations. According to a survey of 2,000 young people and companies, employers have too high expectations towards their […]

Pessimism Continues in the Industrial Sector

D&T
May 25, 2020

In May, presumably as a result of the lockdown easing measures announced by the government, almost all sectoral and consumer confidence indices increased and eliminated one-third of their dramatic fall in April. However, pessimism in industry intensified further. GKI’s economic sentiment index rose by 5 points to -28 points after falling by 29 points in […]

Best European Countries for Business 2020

D&T
May 24, 2020

The EuCham - European Camber has again prepared a list of European countries where the conditions for conducting business are the best. The research is based on World Bank and Transparency International indexes. Hungary is ranked 31st of the 46 countries. EuCham, whose Central and Eastern European office is located in Budapest, ranks and analyzes […]

EU Loan to Mitigate Unemployment Risks

D&T
May 21, 2020

As part of its emergency support package to tackle the economic impact of the COVID-19 crisis, the EU has put in place a temporary instrument to help workers keep their jobs during the crisis. On May 19, the European Council adopted SURE (European instrument for temporary Support to mitigate Unemployment Risks in an Emergency), a […]

Time for E-Trials in Hungarian Courts

Dóra Katalin Kuti
May 19, 2020

The Act CXXX of 2016 on the Code of Civil Procedure (Ccp.) currently in force, in order to meet the requirements of accelerated technical development, already incorporated – upon its entry into force in 2018 – the rules for the use of electronic technologies and devices. However, no one would have thought that their use […]

Covid-19 Crisis: Very Low Reserves at Firms in Budapest

D&T
May 18, 2020

Enterprises in the Hungarian capital calculate with at least another four months of crisis period, according to a research prepared by the Budapest Chamber of Commerce and Industry. However, 60% of them have no more than three months of reserves. BKIK conducted this research among 3,440 businesses to examine the economic impact of the coronavirus […]

Best Job Cities, Post-COVID-19

D&T
May 14, 2020

Budapest ranks 49th on the 'Best Cities for Jobs Index' compiled by FutureLearn to show the post-pandemic job prospects for people in 100 cities around the world. Topping the list is Singapore, ahead of two northern European cities, Copenhagen and Helsinki. The Hungarian capital is preceded in the ranking by two Eastern European cities, Bratislava […]

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