Chance for new impulses: GDP growth averaged a respectable 4.4% between 1997 and 2007, compared to rates between 6 and 10% for other Central European countries. However, the country was hit hard by the global economic crisis mainly due to the fact that urgently needed political reforms were not implemented in due time. The crisis now offers a chance to correct these shortfalls. Prime Minister Bajnai was appointed on the promise to push through the necessary reforms to lead Hungary out of the crisis and back on the growth path.
Prolific Producers: After 1989 Hungary was the prime outsourcing location for Western European manufacturers. As of 2006 it had the highest level of productivity in Eastern Europe in terms of purchasing power parity. The prolific Hungarian workers thus create the most value in comparison to their colleagues in other Eastern European countries.
Unexploited resources: Hungary offers a highly educated workforce as nearly 70% of college-age individuals are enrolled in tertiary school. Due to the relatively stagnant economic growth over recent years the labour market presents itself advantageous to investors willing to invest in Hungary. Unlike some other CEE labour markets in which qualified staff is becoming scarce in big parts of Hungary it is still possible to recruit the required work force even for labour-intensive productions.
