One of the most important sectors of the Hungarian economy is manufacturing, which accounts for a large share of the country’s GDP and, due to its size, has a significant impact on the productivity of other sectors and industries.
Today, the manufacturing industry is characterised by significant dynamism, fierce competition and, in the case of Hungary, continuous foreign investment. On the domestic market, the greatest challenges are the increasing tax burden, changes to the regulatory environment, exchange rate volatility, and the characteristics of the local labour market (such as labour costs, and the skill level of the workforce).
The Hungarian manufacturing industry can enhance its competitiveness by offering Western European standards of quality and productivity while remaining cost-efficient, and by taking advantage of its logistically favourable location.
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Sustainability
Workforce
Efficiency and financing
Security
For industrial companies, the current COVID-19 crisis could lead to particularly severe economic repercussions. Now that companies have taken care of their people, managed the cash situation and ensured business continuity, cost containment rises to the top of most companies’ executive agenda.
Developing advanced supply chain capabilities makes strong economic sense and gives companies the agility needed to respond to disruptions.
Artificial intelligence (AI) is gradually being implemented in almost every aspect of our lives. In medicine, geology, customer data analysis, autonomous vehicles and even art, its applications are everywhere and its uses are constantly evolving.
