Budapest in Hungary

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BUDAPEST HIGHLIGHTS

Budapest is Hungary's economic centre, featuring labour productivity (GVA per employee) twice that of the rest of the country in 2016. This reflects Budapest's concentration of high-value-added jobs in business services: 20% of total jobs, versus 7% in the rest of Hungary in 2016.

Greater labour productivity boosts household disposable income

Thanks to significantly higher labour productivity, Budapest recorded 40% higher disposable income per household than elsewhere in the country in 2016. Foreign investors repatriating their profits generated by operations in the city leave a smaller share of the city's GVA translated into household income.

Higher spending on discretionary categories

In 2016, consumer expenditure (housing and transport excluded) per household was 29% higher in Budapest than elsewhere in the country. Higher spending particularly arises from discretionary categories, such as restaurants and hotels (+68%), and recreation and culture (+80%), boosted by tourist inflows.

Fairly affordable city to live in

Compared with other regions of the country, Budapest is a rather affordable city to live in. In 2016, combined expenditure on housing and transport was 38% higher in Budapest compared with the remaining parts of the country (versus 40% greater disposable incomes). The difference is mostly driven by higher transport costs (+46%), as household spending on housing in Budapest was only 33% larger than in the rest of Hungary in 2016.

The Budapest in Hungary market research report includes:

• Major Budapest cities scorecard
• Detailed ranking of cities in terms of future growth, wealth, labour and other key consumer and economic indicators
• Historic data on population, consumer expenditure, digital consumer and other indicators
• Five-year forecasts of trends and city growth

The Budapest in Hungary in Budapest report answers: 

• How does a specific city fair in terms of consumer market attractiveness compared to a country/region?
• Which cities will be the fastest growing in Budapest?
• What is the consumer market potential in specific cities?
• Which cities in “Country” have the largest number of wealthy consumers?
• How does the city affordability differ across country and region?
• How does labour productivity differ across cities?
• What is the household profile in different cities?