VOL. 31. NUMBER 10 | MAY 19 – JUNE 1, 2023
HUF 2,100 | EUR 5 | USD 6 | GBP 4
HUNGARY’S PRACTICAL BUSINESS BI-WEEKLY SINCE 1992 | WWW.BUDAPESTBUSINESSJOURNAL.COM
SPECIAL REPORT INSIDE THIS ISSUE
Automotive
Continuous Self-Reinvention
As automotive whooshes semi-silently toward an electric future, stakeholders must keep pace with constantly changing regulations. The Hungarian Investment Promotion Agency reveals how investors adjust their strategies to these circumstances and what awaits suppliers down the road. 14
Hungarian R&D Hubs Drive Cars Towards Safer Future Continental Hungary is at the forefront of efforts to make driving safer, with operations nationwide offering AI-fueled software and technological solutions and developments for sensors and brake systems. 15
Winning With Hungary
SOCIALITE
Shining the Spotlight on Hungarian Literature
Bookworm David Holzer discovers the Petőfi Cultural Agency, which, among other things, promotes Hungarian literature in translation, and his eyes light up behind his reading glasses. 20
NEWS
Recession Ongoing, Outlook Remains Uncertain Hungary, for the third time in a row, reported a drop in GDP in the first quarter of 2023, meaning the technical recession that started in H2 2022 has continued into this year. 3
BUSINESS
Matt Zeller, country president for Novartis Hungary and a shortlisted candidate for the Expat CEO of the Year award, tells us what the nomination means and the plans for the company here. 8 BUSINESS
Hungarians Need More Selfcare, Allianz Survey Reveals
Hungarians are among the least prepared for retirement and healthcare costs in the region, according to a recent survey by Allianz Hungária. They are also less aware of the risks and challenges they may face in their old age. 13