3Special
BBJ
SPECIAL REPORT:
Market overview
with company interview
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Report
12-17
NNG goes from
SOFTWARE AND ERP is a digital hub. of engineers, Hungary abroad, With its wealth for programmers of higher salaries Despite the lure innovation. In this the scene of exciting highlight some Budapest is still and the local market section we survey ents. interesting developm
success to success
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SOFTWARE AND ERP SEPTEMBER 05, 2014 – SEPTEMBER 18, 2014
VOL. 22. NUMBER 16
BUDAPEST
BUSINESS JOURNAL HUF 1,250 | €5 | $6 | £3.5
HUNGARY’S PRACTICAL BUSINESS BI-WEEKLY SINCE 1992 | WWW.BBJ.HU
NEWS
Cap on loans won’t pinch borrowers
More skill, less state ownership
The new regulations to prevent excessive debt should not do much harm to the lackluster level of loans being taken out in Hungary. In fact, commercial loans may be turning the corner, but personal loans are still sluggishly hewing to low post− crisis levels. 03 SPECIAL REPORT
Upstream is game, Twitch.tv is gamer Hard as it may be to believe, the contract for allowing people to watch other people play games on the internet is worth close to $1 billion. While an American−Hungarian company leads the market with the biggest streaming audience, an upstart startup was able to beat them at the gaming game and get the big payoff from Amazon. 21 SPECIAL REPORT
Not quite brain drain, but still a pain Even though Hungarian programmers have no problem finding work – pretty much wherever they want to go – many are opting to stay here at home. Still, the country could benefit greatly if it did more to nurture its best, brightest, and geekiest. 18
One of the CEOs of Videoton, the largest Hungarian industrial group in local private hands, talks about his firm’s success and his thoughts on policy: ‘Easing labor market tensions is an important task of the government. Buying private companies and trying to manage them is not.’ 8
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A festival in the center of town puts the spotlight on the creative crop of under−40 vintners and their amazing creations. Even if you weren’t there, you can still sample their excellent vintages all around town. 30