Fear of inflation, a decline in purchasing power and high borrowing costs compared to previous periods are expected to be key concerns for Hungarians over the forecast period, putting pressure on household finances. Applying for credit remains the last solution, and using this resource for managing cash flow will be the priority rather than spending extra money on non-essential items or travel.
Paying off existing loans remains a major concern for banks as APR caps were lifted and there are no further government programmes to cushion the increased expenses of loans so borrowers have to manage their payment obligations on their own.
Online and smartphone platforms are expected to gain further ground in the application for credit in Hungary over the forecast period. Domestic financial services, banks and platforms comparing offers are jumping on the trend.
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Understand the latest market trends and future growth opportunities for the Consumer Credit industry in Hungary with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Consumer Credit industry in Hungary, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Consumer Credit
Non-mortgage consumer debt extended to individuals for personal or household use including installment loans and credit cards. Examples of consumer credit include auto lending, card lending, durables lending, education lending, home lending and other personal loans. Consumer credit includes both revolving and non-revolving credit.
See All of Our DefinitionsThis report originates from Passport, our Consumer Credit research and analysis database.
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