Uncertainty surrounds the seemingly improving economic environment in Hungary

By: Trademagazin Date: 2024. 06. 25. 12:23

The slowdown of recent years and the volatile economic environment have left their mark on Hungarian companies, according to this year’s Intrum European Pay Report, in which company managers from 25 European countries were asked. In addition to the improving conditions, companies across Europe face many challenges. In addition to stabilization, the focus of most companies is digitization. The next period may bring the rise of some companies and the fall of others, if they do not react properly to the new, constantly changing digital conditions.

Budapest, June 25, 2024. The economy is on the upswing again, but European business leaders are only moderately optimistic in the current environment. The survey reveals that they are positive about the opportunities that arise, since the high inflation that has developed after the epidemic situation in recent years shows a downward trend: in the Eurozone, it fell to 2.4 percent from the previous peak of 11.1 percent. Despite all of this, they envisage a slow rising process, since the inflationary pressure has not stopped even now. In addition, the optimism can be explained by the fact that 27 percent of the interviewed company managers claimed that their income exceeded their expectations in the recent period. In Hungary, 25 percent of those interviewed reported that their income exceeded expectations and 32 percent that the numbers were as expected.

The optimism of European companies is also revealed by the fact that more than half of the surveyed companies see opportunities for domestic growth in the next two to three years. This shows agreement between Hungarian companies and the European average, as almost the same proportion of Hungarian companies think about domestic expansion in the in the near future. The development of new digital business models and digitization is a real objective for most companies.