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There are 544 French-owned companies operating in Hungary, an increase of nearly 11 percent since 2020. These companies employ almost 49,000 people and generate an annual turnover of more than EUR 13B, according to the Hungarian-French Chamber of Commerce and Industry.
This information is based on a study conducted by the Economic Department of the French Embassy in Hungary, and the French Foreign Trade Counselors’ Association in Hungary.
A similar report to “French Presence in Hungary 2024” was published in 2020, and since then, France has maintained its position as a key investor in Hungary. According to the latest data from the Hungarian National Bank, France is the fifth-largest foreign investor in Hungary, with EUR 5.15B invested, accounting for 5.1 percent of total foreign investment.
This fifth-place ranking is primarily due to new investments by French companies already present in Hungary.
Inflows of working capital related to the creation of new companies are much more subdued than before. The French presence in Hungary has evolved, with the predominance of large French groups declining and the influence of small and medium-sized companies and mid-caps increasing.
A Francia jelenlét Magyarországon tanulmány informatív, tömör és lényegre törő, gyors áttekintést ad a francia…
Közzétette: CCI France Hongrie / MFKI – 2024. június 5., szerda
The study indicates that the food, trade, consumer goods, and industrial sectors still account for almost half of the turnover of French companies in Hungary. These companies represent 37 percent of the total French presence and employ 35 percent of the total workforce.
These sectors are characterized by a strong presence of SMEs (small and medium-sized enterprises) and mid-caps.
The automotive sector has shown significant growth, doubling its turnover and increasing its number of employees by 64 percent over the past four years. The environmental and energy sectors have also seen a substantial rise in the number of new enterprises, with strong growth in both turnover and employment.
Via MTI; Fetured Image: Snoj Péter / honvedelem.hu