articleimg-1
Sep 05, 2018

Hungary is now the world’s seventh most popular investment destination

According to the latest report for 2017 by IBM Global Location Trends, Hungary is also a leader in high added value foreign investments, occupying 16th place

Hungary is now the world’s seventh most popular investment destination.

According to the latest report for 2017 by IBM Global Location Trends, Hungary is also a leader in high added value foreign investments, occupying 16th place.

“The country is attractive to investors because of its economic environment; we have the lowest rate of personal income tax in Europe, the lowest corporation tax, and the level of social contributions is also continuously decreasing,” said Tamas Menczer, minister of state for Communication and Hungary’s International Image.

The minister pointed out that in 2010 when unemployment stood at 12.5 percent it was clear that one of the most important tasks of the new government was going to be job creation.

“According to the government’s approach, ‘if there is work, there is everything’; work is what provides people with dependability and self-esteem,” he said, adding that “By today, unemployment has fallen to 3.5 percent; in Hungary, anyone who wants to work can now find employment”.

“The government’s funding and incentive policy has also changed, and today, investors, who in addition to creating jobs realize technological development projects and modernization, may also receive funding,” Menczer pointed out.