Hungary

The Hungarian travel market has performed positively on the whole in 2023. Inbound, outbound and domestic trip numbers have increased strongly and come closer to their pre-pandemic levels, with diminishing concerns about COVID-19 and the ending of…

Growth in the number of outbound departures from Hungary in 2023 looks set to be well down on the previous year. This is mainly explained by the ongoing normalisation of travel flows following the strong rebound over 2021-2022 that resulted from the…

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…

Home audio and cinema recorded strong volume decline in 2023 as these products faced competition from wireless sound systems, the increasing sound quality of portable computers and smartphones, and a growing preference for compact and interior…

Whilst premium wireless headbands were popular during COVID-19 as they had more convenient features for both work and gaming, high inflation and rising prices deterred consumers from paying extra for them in 2023, therefore mass products performed…

High inflation affected volume sales of consumer electronics in Hungary in 2023. While strong value growth was recorded, overall volume sales were flat, with a weaker performance in the first half of the year. Strong demand for consumer electronics…

Volume sales of computers were impacted by several negative factors in 2023, including high maturity. Also, the surge in volume sales during the pandemic as people hurriedly tried to set up home offices meant that computers bought during that period…

The Debrecen in Hungary report provides comprehensive city level information benchmarked against other cities in the country and region. The report includes historic data and forecasts on city population, consumer expenditure, digital penetration,…

In 2023, sweet biscuits, snack bars and fruit snacks continued to be impacted by temporary shortages of grain and other agricultural commodities, due to the ongoing war in Ukraine. Sweet biscuits and cereal bars suffered the most from these…

Sugar confectionery saw a mixed performance in 2023, with volume growth rates varying according to subcategory. With food inflation running at record levels, retailers focussed on rationalising their product portfolios in favour of their best-selling…

Retail volume sales of snacks in Hungary saw a fairly flat performance in 2023. While growth was buoyant in current value terms, this was due to massive inflationary pressures, rather than any real upturn in demand. With Hungary having been added to…