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Budapest, Hungary News About Budapest, Hungary Budapest is the economic powerhouse of Hungary, and is also the centre of R&D for many multinational companies such as Nokia and SAP Global, companies that recognise Hungary’s unique geographical location, and its unrivalled pool of intellectual capital. As so many multinational companies have set up base in Budapest, the city is home to an estimated 15-20,000 expatriate workers from all over the globe making the city truly international. Hungary is converging towards the EU average in terms of living standards and wealth. Living standards in Budapest, as the centre of the country by every possible measure, are converging to the EU average more rapidly and more visibly than in the rest of Hungary. EU funding will release stored up growth in Hungary’s economy. Economists expect the stimulating effect of funding to be similar to the boom experienced in Ireland in the late 1990s. Hungary is pouring millions into investments in infrastructure development, an essential driver of future economic growth. In the last five years the length of Hungary’s motorway network has doubled. Last year, 177 km of new motorways were added to the network; a further 100km will be opened in 2007 and an additional 11 new stretches of motorway will be built by 2010. In Budapest, a fourth metro line is currently being constructed. This massive investment will link Southern Buda to North East Pest, and property prices in the areas surrounding the new metro stations will experience a boom. In addition to new motorways and massive investment in public transport, Hungary is also constructing two new bridges over the Danube, which will relieve traffic congestion in the inner city and make the capital even easier to access. The Sept 2007 Global Political Risk index, published by the Eurasia research group, places Hungary as the most stable emerging market country in the world. Other Major Cities:
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