VOL. 30. NUMBER 22
DECEMBER 2 – DECEMBER 15, 2022
HUF 1,850 | EUR 5 | USD 6 | GBP 4
HUNGARY’S PRACTICAL BUSINESS BI-WEEKLY SINCE 1992 | WWW.BBJ.HU
SPECIAL REPORT INSIDE THIS ISSUE
Christmas Shopping Copious Dishes and ‘Brutal’ Prices at Christmas Fairs During winter, some of Budapest’s squares become even more stunning when Christmas fairs open. This year they are more welcome than usual, following two years of pandemic restrictions. Prices, however, are likely to be prohibitive for many locals. 14
Black Friday: Will December be Better? Black Friday was unpredictable. Customers were told to expect maximum discounts of 20%, while inflation in October was 21.1%, meaning those who could take advantage of the rates could buy at last year’s prices, at best. 16
Finding a way Forward
SOCIALITE
Christmas Shopping in Budapest: It’s not About the Shopping There are two ways to approach Christmas shopping in Budapest. You can plan as if it were a military exercise and get in and out as fast as possible. Or you can treat the process as a thoroughly enjoyable way to spend a day. David Holzer opts for the latter. 21
NEWS
BUSINESS
László Károlyi, chairman of the French-Hungarian Chamber of Commerce and Industry, and executive director Ágnes Ducrot, discuss steps the chamber is taking to help members cope with the economic crisis. 10
Investments Galore, but Recession Seems Unavoidable The volume of investments in Hungary continued to increase in Q3. Analysts expect this positive tendency to continue in 2023; however, the overall economic situation does not look too rosy in the near future. 3
BUSINESS
Air France-KLM GM: ‘Look Beyond Price, Focus on Choice’ In August 2022, Bas ‘t Hooft, general manager of Alps and Central Europe for Air France-KLM, touched down in Budapest with his family to live. We discusses his impressions of Budapest and Hungary and his thoughts on aviation and its future. 9