Together with ITL Study Center, we publish an overview of Italian companies founded in Hungary in the first half of the year 2023. In this article, the companies in question are shown in graphs and filtered according to the city of activity, type of activity conducted and the Italian region of provenance of the founder.
The aim of the analysis is to allow a rigorous categorisation and straightforward identification of all the Italian companies active in Hungary.
Finally, brief reflections will be given on the possible causes of the variations in the trend under investigation.
italian COMPANIES IN THE FIRST SEMESTER
55 new Italian companies opened their businesses in Hungary during the first half of 2023. From the data provided, we can see that in the first half of the year, the month with the highest number of registrations was January, with a total of 13 new openings.
For the rest of the semester, the number of new openings ranged between 8 and 10, with the exception of April, with six new businesses opened, until this moment the lowest figure for the year.
OPERATING SECTOR
In the following section, is presented the the distribution of new companies by operating sector.
According to the Hungarian Government’s categorisations (harmonised with the European NACE Rev.2 system), the sector with the highest number of new companies opened is ‘Wholesale and Retail Trade and Repair of Motor Vehicles and Motorcycles‘ (Section G) with a total of 20 new companies, followed by ‘Professional, Scientific and Technical Activities‘ (Section M) with 11 new companies out of a total of 55 new investments.
The following sectors registered three or more new activities, in descending order:
- 4 Administrative and support service activities (Sezione N)
- 3 Construction (Sezione F)
- 3 Manifacturing (Sezione C)
- 3 Information and communication (Sezione J)
- 3 Arts, entertainment and recreation (Sezione R),
Others sectors with a relevant activity include:
- 2 Real Estate (Sezione L)
- 2 Accomodation and food service activities (Sezione I)
- 1 Financial and insurance activities (Sezione K)
- 1 Transportation and storage (Sezione H)
- 1 Electricity, gas, steam and air conditioning supply (Sezione D)
The data availbale, showcase a varied distribution of new business openings across sectors, with some attracting more investments than others. These trends provide important information on economic and entrepreneurial tendencies and perceived growth prospects on the Hungarian economy.
Sector G, the most active, with 20 new companies in 2023, is statistically subdivided into Automotive; Wholesale and Intermediary Trade and Retail Trade.
Wholesale and Intermediary Trade is the leading category, with 65% of the businesses opened under Section G (13 out of 20), followed by retail trade with 4 new businesses and the automotive sector with 3.
New italian companies in Hungary by city
The main hub for Italian investments in Hungary is the city of Budapest, the capital and main business centre of the country. Almost seventy per cent (38 out of 55) of the new Italian businesses founded in 2023 designated Budapest as their central hub.
It is followed (3 out of 55) by the city of Kecskemét, Hungary’s eighth largest city, the capital of Bács-Kiskun county and already the site of a massive investment project led by Mercedes-Benz Manufacturing Hungary.
Region of provenance
From the data provided, it is possible to draw some significant observations on the origin of the founding managers. Within the context of the first half of the year, it’s noteworthy that 13 of the 20 Italian regions have been represented as regions of origin.
Lombardy stands out as the region with the highest number of new entrepreneurs active in Hungary, with 10 new companies. In succession, Emilia-Romagna and Veneto each introduce 7 new enterprises, while Lazio and Campania contribute with 6 new openings. Abruzzo, Calabria, Friuli-Venezia Giulia, Liguria, Marche, Piedmont, Sardinia, and Tuscany have reported no more than five new businesses each.
In contrast, in the first six months of 2023, Basilicata, Molise, Apulia, Sicily, Trentino-Alto Adige, Umbria, and Val d’Aosta did not register any new company within Hungary.
The data suggest an uneven distribution of new business openings, with more connections between Hungary and the most populated and economically active Italian regions.
