Why Hungary?Hungary is an excellent place to work with. It is now in the second stage of modernizing and improving its economy. The majority of its economy is in private hands (80%). For this reason Hungary is in an excellent position to take advantage of our knowledge based services to implement them into their businesses. This offers a tremendous amount of opportunities to Quebec companies.
Hungary is also an excellent springboard to Eastern and Central Europe. Today there are over 1000 companies operating in Russia. The OTP bank, a Hungarian bank, is very aggressive and has over 10 million clients in Russia, Ukraine, Romania, Bulgaria, Serbia, Slovakia Croatia and Montenegro. It is the largest bank operator in Bulgaria. These are territories that are unknown to the majority of Quebec and Canadian companies.
Its geographical location at the heart of Europe offers many advantages. A 1000 km radius around Budapest provides a consumer market of over 300 million people making it an excellent distribution center. The Hungarian workforce is relatively well educated and it is a member of the European Union.
Canadian exports to Hungary totalled $70,797,507 and Canadian Imports from Hungary totalled $220,208,791 in 2005.