Hungary

Much like Budapest, smaller cities and regional areas in Hungary have witnessed significant increases in lodging supply in recent years, particularly since the easing of the pandemic and the ending of related restrictions. A key driver of growth in…

Hungarians traditionally pay close attention to foreign exchange rates when planning trips abroad, particularly summer holidays, as fluctuations can cause travel expenses to increase significantly in a short period of time. This was the case…

The low cost carriers category looks set to record faster growth in current value sales than its full service counterpart in Hungary in 2023. This is partly because due to their focus on offering more affordable fares, leading low cost operators such…

A low tax burden adds to Hungary’s economic freedom, but corruption remains an issue and state finances are under pressure. Economic performance has outpaced peers and unemployment is low, but inflation remains very high and will adversely impact…

Activity watches (analogue) were increasingly popular and recorded the highest volume growth in 2023 as these products are readily available and consumers prefer them to other activity bands without displays and traditional watches as they offer…

Portable players were hard to find in retail channels in 2023 and their sales were negligible as technology advances are leading to portable player devices becoming obsolete. In particular smartphone and tablets are replacing the need for portable…

Significant price rises and a high penetration rate in Hungary resulted in volume decline in smartphones in 2023. Fewer consumers were able to replace their smartphone and chose to postpone their purchases until prices were more stable, or they…

In-car entertainment recorded further decline in 2023, negatively impacted by fewer sales of new cars due to a shortage of key parts and components needed for their manufacture, which also drove up prices in the year. Consumers had to wait a long…

Volume sales of imaging devices again fell by a fifth in 2023 and value sales also registered decline. Continuing advances in smartphones’ cameras are leading to continual decline in imaging devices, to the extent that some smartphones can meet the…

Televisions recorded slight volume growth in 2023, with OLED TVs seeing strong double-digit growth as consumers looked to upgrade their older televisions with screens offering high picture and sound quality, which are light and have more…