Great Economic Potential for the Tourism Sector in Budapest

Written by: Bridgewest

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The tourism revenues of Budapest have the potential to rise by up to 1 billion EUR, according to the Hungarian news publisher mno.hu. This information emerged from a comparative study of 13 European cities, conducted by a consulting firm. Besides Budapest, some of the cities analyzed in the study were: Barcelona, Lisbon, Berlin, Vienna and Prague.
 

Budapest – one of the next touristic giants in Europe? 

The results of this study also revealed that Budapest has the potential to become the next touristic giant, following Barcelona or Prague. Furthermore, many hotels in Budapest have improved their services over the last years and the current accommodation infrastructure is well developed.
 
Budapest and the central Danube region represent the most visited Hungarian settlements. With important touristic attractions like the Fishermen’s Bastion, the Budapest Parliament, the Chain Bridge, the Danube promenade, Budapest represents an attractive city both for tourists and for investors interested in starting businesses in the tourism field.
 

Hungary’s tourism sector in 2014

Hungary’s tourism field has been on an upward trend since last year, making it an attractive sector for foreign investors. Last year, the Hungarian tourism domain broke records in almost all areas.  According the Ministry for National Economy in Hungary, in 2014 the  tourism field registered the following increases compared to 2013:
 
  • - the number of international trips by Hungarians rose by 2.3 %;
     
  • - the number of foreigners coming to Hungary increased by 5.4%;
     
  • - the number of Hungarians traveling abroad rose by 1,9%.
Furthermore, the total number of foreigner arrivals in Hungary in 2014 was 46 million, out of which 34 million represented same-day visits and 12 million multi-day visits. 
 

Why invest in the Hungarian tourism field?

Considering the encouraging statistics in 2014 regarding the number of tourists in Hungary, further increases are expected this year.  This upward trend of the tourism sector is an opportunity for business activities. Whether you consider opening a hotel in Hungary or a travel agency, our local specialists in company formation matters are at your disposal. 
 
Our team of Hungarian company registration experts is specialized in incorporation matters and can provide clients with complete guidance. We know that every business is different, that is why we offer personalized services. 
 
For more details about the Hungarian tourism sector or about the process of opening a company in this country, please contact our company registration agents in Hungary.
 

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