economic development

Political messages in recent months clearly show that the defence industry is on the verge of a quantum leap, both across Europe and at EU level. As a first step in this process, on 5 March 2024, the European Commission, in a joint declaration with the EU High Representative for Foreign Affairs and Security Policy, published the first European Defence Industrial Strategy (EDIS), which sets out the Commission's long-term vision for the management of defence industrial issues at EU level, the role of the EU institutions and the room for manoeuvre of the Member States up to 2035.

An overwhelming majority (87%) of Hungarian consumers think that it is fundamentally positive when a product is Hungarian: they prefer Hungarian goods, and this is encouraging news for Hungarian businesses. Detailed data in the October 2023 survey by Századvég Konjunktúrakutató show that Hungarian consumers have a significantly higher preference for domestic products when buying food than when buying other products.

Creative industries have been a recognised driver of developed economies for decades. All over the world, the vast majority of products with high added value are still designed in Europe and the US, and only their production has been relocated to Asia. These products are distributed around the world through European and American companies, brands and retailers. Therefore, Hungary is typically only involved in these global processes through minor manufacturing and logistics operations, and primarily on the consumer side. Századvég Konjunktúrakutató has conducted a comprehensive analysis to explore how Hungary could strengthen its role in this industry.