On the verge of a generational change: The rise of generations Y and Z in Hungarian business life

In Hungary, generational change is a particularly timely topic in business life, as many owners founded their businesses after the regime change and are now approaching or have reached retirement age. At the same time, the issue of generational change no longer only affects companies, but also affects the entire Hungarian economy. It is already essential for the veteran generation to step into the generational transition, but the question must also be on the agenda for the members of the baby boom generation. Currently, the largest group of owners of social enterprises is the X generation, their share is close to 50% of the total group of owners.

The X generation acquired the leading role in the ownership of domestic enterprises early on. According to OPTEN data, they reached an absolute majority by 2001, and a year later they dominated among those entitled to register. It took 22 years for this hegemony to break, and in 2023, the share of owners of the X generation fell below 50%. Although we have indeed reached a turning point – there are more than 13,000 fewer people in the ownership circle – they are still represented in the largest proportion, and their share has fallen to only 49%. While their share of ownership has decreased, they still hold the absolute majority among those entitled to register. “I believe that there is reason for optimism regarding the future of the generational ownership structure in Hungary. Generation X, which still holds the largest share, has time to make the necessary shift. If you haven’t already, now is the time to start, so you can avoid running out of time.

– said Csaba Alföldi, OPTEN’s company information expert.