K&H: the desire to innovate is waning

By: Trademagazin Date: 2022. 12. 19. 11:08

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In recent months, Hungarian companies have carefully scaled back their innovation ideas. The K&H innovation index shows a slight decline. The Russian-Ukrainian armed conflict is further worsening the waning corporate innovation spirit. “Innovation is the key to competitiveness, the digital transition is an excellent reflection of this,” says Balázs Németh, head of innovation at K&H.

The K&H innovation index fills a gap because it shows from time to time where the Hungarian economy stands in the innovation competition and what developments the actors of the economy are preparing for the future. At the moment, the overall picture is not very bright – this is how K&H 2022’s innovation index for the second half of the year can be summarized, which decreased by 2 points to 28 points compared to the previous half.

“This performance is weaker than average, essentially reflecting Hungary’s not-so-prestigious place in the European innovation ranking. However, innovation is the key to competitiveness, because it enables the company to satisfy the needs of customers better than before and increases its efficiency”

– says Balázs Németh, head of innovation at K&H.