Hungary is open for business! If we look at the huge amounts of investments and industrial developments that have poured into Hungary, together with the significant support by the Hungarian Government and its supporting state departments; its nothing less than a phenomenal achievement for such a relatively small country. Hungary is the 8^th most attractive investment destination in the World and had an annual investment growth increase of 28 %. 

We suggest that visitors to our site take a look at the section under ‘Hungary – Trade’, covering the ‘Socio-Economic Profile of Hungary’ to see these spectacular results.

Hungary is most welcoming of international business opportunities. In business, as Hungarians consider personal relationships crucial. Face-to-face discussions and meetings are deemed as absolutely essential in business matters and a solid relationship relies on repeated engagements and phone calls. In their business dealings, Hungarians tend to be formal, adhering to hierarchical organizational structures, and yet expressive, with typical negotiations taking place through open dialogue. However with Hungarian with their rich Continental European heritage, one can expect initial meetings to take place over lunch or dinner; where they can initially ‘break the ice’ and lay the platform for followup engagements. Hungarians are also generally outspoken and for this reason some foreigners incorrectly perceive them as abrupt, brash or rude. However, they will endeavour to provide evidence in support of their discussion and if they cannot reach an agreement, they tend to explain why and may propose new talks. In this way way Hungarian businessman will rather try and salvage a business deal, than simply discard the negotiations.

Sok Kicsi Sokra Megy” … “Many small things (elements) combined, have a greater impact”. – Hungarian Proverb

For Hungarian businessman, the right relationships and networks are very important, as these relationships are seen as long term and almost treated as ‘family’; with trust and social engagements being deemed essential.  Therefore for foreign businessman common sense and discernment are obvious considerations, while positive proactive engagements can be expected to be recipricated with a rewarding business association and a warm social relationship.

Please remember to read up a little about Hungary and Hungarians before any engagements, as Hungarians are mostly very patriotic and fiercely proud of their ethnicity, culture, language and universal achievements.

Do Not ever do the following!

• Mix up Hungary with other countries in Europe such as Bulgaria
• Never indicate or create the impression that Hungarian (Magyar) is a Slavic language or that Magyars are Slavic or Germanic!
• Never, misname the capital Budapest as Bucharest!

These are ‘Faux Pas’ or embarrassing social blunders that will Not endear you or help your business negotiations!

It’s important to keep in mind that Hungarians’ tendency towards distrust and suspicion can be attributed to historical reasons, so unpleasant points are discussed to circumvent potential future business challenges, wherever possible. The first meeting will most likely be characterized by a reserved attitude, but once the ‘ice is broken’, you will find Hungarians are wonderful hosts and quite passionate with their verbal exchanges, which have a tendency to be very intense and spirited.