The annual FinTech and Digitalization Report shows that there are 175 active FinTech companies operating in the country, employing nearly 9,000 people.Continue reading
Hungary ranks 22nd in the EU’s Digital Economy and Society Index (DESI), measuring the digital maturity of EU Member States, with a score of 43.8, compared to the EU average of 52.3, according to a joint survey by software management company Neuron Software and consultancy firm EY, reports Világgazdaság.
The proportion of people employed in the information and communication sector in Hungary is 3.8 percent, also below the EU average of 4.5 percent.
According to the survey,
the shortage of IT specialists is hampering the development of the Hungarian economy as a whole, including large and small companies.
The micro and small enterprises typically plan to spend between HUF 10 and 50 million (EUR 26,026-130,130) on software development over the next year. However, almost a quarter of medium and large enterprises, 24%, expect to spend more than HUF 250 million (EUR 650,650) on software development.
Financial services are likely to see the highest levels of development, followed by the IT sector, while machinery, automotive, and retail will see low levels of software development spending – between HUF 1-10 million (EUR 2,602-26,026).
László Bodrogközi, founder and managing director of Neuron Software, emphasized in a statement:
While there is a shortage of skilled IT professionals, there is a growing demand for them, with business leaders offering competitive compensation packages, substantial benefits, and perks to retain their IT teams.
Nevertheless, there is a tendency for larger IT teams to migrate,” he added.
Besides government and the public sector, the energy, machinery, and automotive sectors are at the highest risk of losing specialists from the team, and in the worst case scenario, there could be failures and system downtime that could have a critical impact on business, he noted.
Particular attention needs to be paid to prevent problems, i.e. maintaining the ‘health’ of company systems, and it also helps to retain colleagues if a company has systems that are constantly evolving and stable, the survey suggested.
Via Világgazdaság, Featured image via Pexels