Italian companies founded in Hungary during 2020

In collaboration with ITL Study Center, we publish a brief analysis of Italian companies founded in Hungary during 2020.  

This article aims to answer the questions:

1. How many Italian companies were founded in Hungary during 2020?
2. In which regions of Hungary Italian investments are mostly concentrated? 
3. What regions of Italy are the main sources of investments?
4. What are the main fields of Italian investments in Hungary?

Database of Italian companies in Hungary

The data for the analysis is published by the ITL Group’s Database of Italian companies, founded and updated monthly since 2010, turning eleven this year. The project aims to facilitate connections between Italian companies in Hungary, with the Hungarian business fabric, and with Italy.

The database shows the Italian presence in Hungary (available in Italian, Hungarian, and English) and allows to easily find Italian companies operating in the Hungarian territory thanks to the numerous search filters (by name, by sector of activity, by type, by turnover, and the number of employees, by year of foundation).

The database was granted to Italian government agencies and journalists for their inquiries and was greatly appreciated. For more information, please contact info@itlgroup.hu.

analysis of Italian companies presence in Hungary

2020 was the particular year for business worldwide. The pace of changes and uncertainties dictated rules. Despite the overall stagnation dynamic, business activities did not totally stop, and the analysis of the Italian companies established in Hungary is the bright evidence. 

The beginning of the year was auspicious. The number of companies was increasing and achieved its absolute top for 2020 in March, achieving 35 companies opened in Hungary. However, the outbreak situation had influenced the second quarter of the year, and possibly foreseeing the risks and uncertainties, investors slowed down the pace in April and May of 2020. Even if June and July came with a sharp increase in the numbers of established companies, the rest of the year depicted by uneven and only decreasing dynamics, but never achieved the minimums of the second quarter. However, this tendency derived not only due to pandemic issues but also from the difficulties of the country’s bank sector.

It is not surprising that Budapest is the main city where the Italian investments are mainly concentrated: 149 out of 191 companies are registered in the Hungarian capital. The second city by the popularity among the businessmen is Újlengyel; still, only seven companies are situated there.

It also means that 78% or three out of four Italian businesspeople had chosen Főváros county as the appropriate region to start the company.

The highest number of Italian companies founded in Hungary in 2020 reports “Activities of head offices and management consultancy activities” as the principal.

Since the major part of newly formed Italian companies concentrates in Főváros county (Budapest), it separately could be insightful.

The highest number of companies founded in Főváros county in 2020 as the principal activity had chosen the “Wholesale on a fee or contract basis”. It followed by “Activities of head offices and management consultancy activities”, “Other specialized wholesale” and “Non-specialised wholesale trade” but with a significant gap from the leader.

Pest is the second county considering the number of companies established there. Still, the prevailing number of counties have only one Italian company representative from different fields depicted on the graph.

Citizens of Lombardy founded 63 out of 191 (33%) companies in Hungary in 2020. Citizens of Lazio and Veneto are in second and third places with 18 and 17 organizations, respectively. Marche and Umbria are the regions less interested in investments in Hungary, with only one company opened each.

The companies in the “Restaurants and mobile food service activities” have the highest average charter capital of 11.500.000 Hungarian Forint, which is almost 32.000 Euro. Nevertheless, the majority of Italian companies dedicated 3.000.000 Hungarian Forint (8500 Euro) as the average charter capital. The Italian companies from the “Service activities incidental to water transportation” field opened in 2020 in Hungary have the lowest average charter capital among the others, only 90 000 Hungarian Forint (250 Euro).