Budapest Business Journal 3209

Telecoms and ICT

Rethinking Mobile: Rise of Refurbished Phones

With the most recent Earth Day on April 22, refurbished mobile phones are emerging as a sustainable, economically savvy and eco-friendly option: cheap iPhones brought from a reliable source and that come with a warranty are now a trend.  14

Workforce not Getting Most From ICT Support

ICT technology is not always deployed effectively, IT help desk staff can speak a different language to everyone else, and Excel is being used to cover a multitude of tasks, new research suggests.  17

Being ‘Larry:’ an interview with Actor Bennett Vilmányi

While “Larry” occasionally expects the viewer to suspend disbelief a little too much, it’s an intense movie powered by gritty performances. When Bennett Vilmányi is onscreen, it’s impossible to take your eyes off him, writes David Holzer.  21

Research and the Data Goldmine

Pharma firm MSD is all about R&D and working with the healthcare ecosystem to produce real-world data, Cyril Schiever, president of the Mid-Europe Region, tells us in an exclusive interview. Do it well, and the company can add value and help Hungary, he says. 11

Hungarian Economy no Longer Stagnating

The Q1 GDP data surprised analysts, and was the second best in the EU on a quarterly basis. As for the whole year, based on the better-than-expected figures, analysts now expect average growth of 2-3%; however, this is still fraught with uncertainty, mainly due to changes in external demand.  3

Women at the Wheel: Girls’ Day at Bosch

For the 11th time, Bosch welcomed young women interested in science and technology to its annual Girls’ Day, held across four locations. The event provides female students insights into automotive innovation and production.  12

EDITOR-IN-CHIEF: Robin Marshall

EDITORIAL CONTRIBUTORS: Luca Albert, Balázs Barabás, Zsófia Czifra, Kester Eddy, Bence Gaál, Gergely Herpai, David Holzer, Gary J. Morrell, Maja Pénzes, Nicholas Pongratz, Gergő Rácz.

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THE EDITOR SAYS

IN PRAISE OF GOLDMINES AND REFURBISHED PHONES

Sometimes, as we pull together an issue of the Budapest Business Journal , one story or theme dominates all others; in other editions, nothing much stands out. Two articles caught my eye in this paper, though for very different reasons. The first is our lead story in this issue’s special report, which details a deceptively straightforward concept: refurbished mobile phones. In the same way that renovating an existing building will have less environmental impact than building a new one, refurbished phones are greener and cleaner than new models. As our story on page nine demonstrates, this isn’t just the personification of the circular economy. It also addresses issues more closely connected with social integration. Those on lower incomes will struggle to afford the latest smartphone model (or, put another way, to justify the expense over all their other priorities, not least paying the bills and feeding the family). But a refurbished phone might be within their range and still be a step up from what they currently carry in their pocket. Throw in the security of a two-year warranty, and you have baked in peace of mind. What I found truly fascinating was the granular data behind the business. “One percent of the incoming [old] mobile phones are completely unusable and are dismantled and recycled,” Recommerce sales manager János Zilahi told us. “About 28-30% are not economically viable to refurbish due to being outdated or severely damaged. From these, usable components are salvaged, and the rest is recycled. Of the remaining 70% of smartphones, half are immediately marketable after data deletion and thorough cleaning and

repackaging, while the others require minor repairs; these almost invariably involve screen or battery replacement.” What a great business model. The other story represents something that has become a recurring theme. We have done several interviews with significant pharmaceutical players recently. On this occasion, we were lucky enough to sit down with Cyril Schiever, president of the Mid-Europe Region for MSD, one of the largest pharmaceutical companies in the world. And yet again, the centralized Hungarian healthcare system, or more specifically, a particular byproduct of it, was praised. We are so used to complaints about underfunded hospitals and long waiting times (a complaint you will probably find aired in most countries) that hearing anything positive about the healthcare ecosystem – beyond the quality of the people who work within it – is almost a surprise. And yet, prominent pharma R&D actors keep pointing out that Hungary sits on a data goldmine. Because the information is centralized, and particularly because there is just one authority to deal with, it gives you a far more complete picture of Hungarian healthcare. That’s great for analyzing historical data but also for tracking trials in real time. Naturally, concerns need to be addressed. That data must be protected, most obviously, but it must also be interrogated intelligently. But as Cyril Schiever told us, it is an excellent foundation upon which to build, and one most other countries would dearly like to have.

Robin Marshall Editor-in-chief

THEN & NOW

In the black-and-white photo dating to 1985 from the Fortepan public archive, participants of the International Meeting of Classic Cars drive past Flórián tér, near Árpád Bridge, en route to a rally event starting in the nearby town of Szentendre (22 km north of central Budapest by road). Meanwhile, in the picture taken by state news agency MTI on May 1 this year, a meeting of veteran and classic vehicles marks the 125th anniversary of the Museum of Transport next to the Diesel Hall of the Northern Vehicle Repair Facility.

Photo by Katalin Tóth / Fortepan

Photo by Zoltán Máthé MTI

1News

• macroscope

Hungarian Economy no Longer Stagnating

The first quarter GDP data surprised analysts, and was the second best in the European Union on a quarterly basis. As for the whole year, based on the betterthan-expected figures, analysts now expect average growth of 2-3%; however, this is still fraught with uncertainty, mainly due to changes in external demand.

Change in GDP in Hungary, 2010-2024 (Q1)

Quarterly change in GDP, 2010-2024 (Q1)

Hungary’s gross domestic product was 1.1% higher according to raw data and 1.7% higher according to seasonally- and calendaradjusted and reconciled data in the first quarter of 2024 than in the same period of the previous year. Compared to Q4 of 2023, the economic performance was up by 0.8%, according to the seasonally- and calendaradjusted numbers, fresh information published by the Central Statistical Office (KSH) shows.

According to the report, the main contributors to the increase in the economic performance were market services. A decrease in the added value of industry, which represents a significant weight in the national economy as a whole, hampered economic growth.

The data suggests the economy regained its strength in the first quarter, and the recovery process that stalled at the end of last year has started again, Erste Bank analysts Orsolya Nyeste and János Nagy comment.

Although consumption might pick up as well as a result of lower inflation and higher real wages, the question is to what extent it will remain within the country’s borders and how much the motive of caution, which has intensified due to the welfare

losses of the past year and a half, will be resolved. As for the whole year, the experts expect economic growth of 2%.

Positive Contributions

“Although the KSH has not yet published detailed data on the first estimate, it can be guessed from the consumption side that both consumption and investments may have contributed positively to the expansion,” Gábor Regős, head analyst at fund management company Gránit Alapkezelő, says.

According to him, consumption was greatly helped by the fact that real earnings rose by around 10%

in the months most relevant to consumption in the first quarter (between December and February), meaning there was more to consume, even if the motive of prudence and the high price level hindered this higher consumption.

“It is also worth adding that the purchasing power of pensions not only remained at the same level but also increased slightly. In order for consumption to increase, it was also necessary for inflation to normalize; this happened roughly in the first quarter,” Regős adds.

Balogh-Béki writes in her commentary. “We expect economic growth of more than 2% from the second quarter on a year-on-year basis. The economy may expand by 2.7%

this year as a whole.”

She thinks the main driving force behind this year’s growth is the replacement of delayed consumption, which is supported by the recovering real wages. The EUR 12.2 billion in EU funding released (representing roughly a third of the EU funds), which started gradually arriving from the beginning of this year, might also provide support, mainly through investments.

“It is also worth adding that the purchasing power of pensions not only remained at the same level but also increased slightly. In order for consumption to increase, it was also necessary for inflation to normalize; this happened roughly in the first quarter.”

Source:

He thinks the economy seems to be gradually returning to the growth path after the stagnation of the previous quarter. However, the contribution of exports is difficult to estimate, and the weak industrial data predicts an unfavorable performance. The development of external demand is still not yet there to help the expansion of the economy.

According to Péter Virovácz, senior analyst at ING Bank, the Hungarian economy has continued to zig-zag, with stagnation and dynamic growth alternating in the past four quarters. He says that after the negative surprise of the previous quarter, we can now speak of a slight positive surprise.

Above Expectation

The senior analyst says the market expectation was an increase of 0.5% on a quarterly basis rather than the 0.8% the KSH recorded for the first quarter of this year. In addition to last year’s low base, the annual base growth has also improved significantly, Virovácz points out. It is also important to note that the seasonal effect was much stronger than usual, he adds.

“The latest data is in line with our forecast for 2024,” MBH Bank’s senior capital market analyst Márta

In a Facebook video, Minister of Finance Mihály Varga talked about how growth was helped by the fact that employment is at a record level, real wages are rising, consumption has started, and the construction industry and tourism are also performing better. According to his expectations, the Hungarian economy may expand by 2.5% throughout 2024. Next year, according to the forecasts of the European Commission and the International Monetary Fund, it may be at the top of the EU growth ranking.

The Second Best

The EU’s statistical office, Eurostat, has also published seasonally adjusted data for the member states. Compared to the previous quarter, Ireland achieved the best growth of 1.1%, followed by Lithuania, Latvia and Hungary: all three countries are at the top of the field with a growth rate of 0.8%. Spain closely follows, with a growth rate of 0.7%. Belgium maintains a stable growth rate of 0.3%, placing it sixth among the best performers. Sweden’s economy shrank by 0.1%, while Austria, Germany and France all expanded by 0.2% only. The EU and Eurozone growth averages both showed a 0.3% increase.

ZSÓFIA CZIFRA

CEE-6 Investment Market Corrections to Continue in 2024 Real Estate Matters

Investment volumes for the Central and Eastern European six (Bulgaria, the Czech Republic, Hungary, Poland, Romania, and Slovakia) hit a 10-year low falling by 52% year-on-year for 2023, according to the latest figures from Colliers.

A period of “price discovery” will continue throughout this year at the same time as the imposition of ESG hits both buyers and sellers. Despite these issues, the CEE-6 still has investment potential, in the view of Colliers.

“Investor perception remains an issue from the outside, but companies within the CEE-6 enjoy robust results,” Kevin Turpin, head of CEE capital markets at Colliers, told the Sustainable Investment Breakfast by Colliers and Dentons at the W Budapest Hotel on April 11.

As a reflection of the central importance of environmental, social and governance concerns for all stakeholders, sellers are re-assessing their strategies and optimizing their portfolios in terms of letting capabilities regarding ESG compatibility.

“ESG compliance is becoming the market norm for investment

A biweekly look at real estate issues in Hungary and the region

transactions, reflecting a broader commitment to sustainability from all parties. However, given the current investment environment, the timing in terms of ESG costs is not ideal,” said Turpin.

He estimates a “good” CEE-6 market recovery would be between EUR 8 billion and EUR 10 bln and growing from there.

In 2022, the CEE-6 investment volume

was on par with the 10-year average at about EUR 10.7 bln. To put this into perspective, however, that figure is approximately 15-20% of the volumes for Germany for the same time frame.

In the current environment, Bence Vécsey, head of investment services at Colliers Hungary, estimates that the total investment volume for Hungary for 2023 could be around EUR 500 million. The country has generated about 10% of CEE-6 volumes from 2019 to 2023. According to Colliers figures, Poland, the leading CEE investment destination, recorded EUR 27 bln, the Czech Republic EUR 10.6 bln, Hungary EUR 5 bln and Romania EUR 4 bln.

Hungary Playing Catch-up

Over this period, Hungary has traded on»average EUR 950 mln a year, the Czech Republic EUR 2.1 bln and Romania EUR 800 mln.

“Therefore, there is quite some catching up for Hungary to do with regard to the Czech Republic and, given the current perception of Hungary (partly from a political risk angle), this may take a while.

Romania is not far from Hungary by the investment average and could take the third spot,” commented Turpin.

Budapest has current yields of 6.25% for office, 6.75% for industrial and 8% for shopping centers, according to Colliers. This provides a yield premium on Prague, which has the lowest yields in the region at 5.5% for office, 5.25% for industrial and 6% for shopping centers.

Budapest has a total office stock of 4.4 million sqm with a vacancy rate of 13%. Prime capital values for the office sector are significantly lower than in Poland and the Czech Republic. Industrial stock in Hungary stands at 5.1 million sqm, with a 7.6% vacancy rate. Capital values for Hungary are higher than those in Poland, although lower than those in the Czech Republic and Slovakia.

Regarding sources of capital from 2019 to 2023, the share of CEE-6 capital and international capital stands at 34% and 66%, respectively. However, the share of CEE capital in 2023 investment volumes reached approximately 56%. For Hungary, the amount of domestic capital in the investment market in 2023 was 62%, while for the Czech Republic, it stood at 46% and was a lowly 2% for Poland.

“ESG compliance is becoming the market norm for investment transactions, reflecting a broader commitment to sustainability from allparties. However, given the current investment environment, the timing in terms of ESG costs is not ideal.”

The Hungarian and Czech markets have traditionally always had a strong representation from domestic investors, while, in Poland, their role has been limited. Analysts now divide the source of money in CEE between domestic national investors, domestic regional investors, and international investors.

GARY J. MORRELL

Source: Colliers

Sustainable Investment Breakfast by Colliers and Dentons at the W Budapest.

Kevin Turpin, head of CEE capital markets at Colliers, explains the CEE-6 growth figures.

‘Not Our War’ PM Says as Talks Continue on Transcarpathia Minority Rights

In the lead-up to the European Parliamentary elections on June 9, Prime Minister Viktor Orbán made clear that keeping Hungary out of the war in Ukraine would be one of the top priorities for the governing Fidesz and Christian Democratic People’s Party (KDNP) alliance at a campaign opening event in Budapest on April 19.

“No migration, no gender, no war!” he declared, citing the alliance’s campaign slogan. Orbán pledged that Hungary would not involve itself with either side of the Russo-Ukrainian conflict as long as the Fidesz-KDNP alliance was in government, adding that had it not been, Hungary would already be “up to its neck” in the war.

Earlier that day, the PM made the same pledge during his weekly interview with Kossuth Rádió, explaining that the conflict was “not our war” and reiterating the need for a ceasefire and the start of peace negotiations.

Orbán recalled recently returning from a European Union summit in Brussels, where he said a “mood

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Ukraine

Roundup Crisis

of war” had prevailed with the suggestion that soldiers could be sent to the conflict, escalating the war in Ukraine to a “second phase.”

Also in attendance at the EU summit was the PM’s political director, Balázs Orbán, who said that ensuring peace and security for Hungary remained the government’s top priority despite other European leaders continuing to take a “pro-war position.” He emphasized that Hungary would stand by its position of not participating in any preparations for war by refusing to deliver weapons and rejecting EU military support in any form.

“In line with Hungary’s national priorities, we will not participate in cooperation that does not serve our

national interests,” he added. The PM’s political director said that Hungary continues to advocate for peace, concluding there was “no military solution” to the war in Ukraine.

Transcarpathia Talks

Meanwhile, Minister of Foreign Affairs and Trade Péter Szijjártó continued talks over the phone with Ukrainian President Volodymyr Zelensky’s chief of staff, Andriy Yermak, regarding the rights of the ethnic Hungarian population in Transcarpathia, in the west of Ukraine, according to a post on the foreign minister’s Facebook page on April 19. Szijjártó acknowledged that the bilateral working group created

to address the matter had made some progress over the past weeks. However, he added that a lot of work remained to be done, which would require the working group to continue to meet the following week.

“In line with Hungary’s national priorities, we will not participate in cooperation that does not serve our national interests.”

Although Szijjártó again accepted there had been progress concerning Ukraine’s treatment of Hungarian minorities, on the sidelines of a meeting of his EU peers on April 22,

he said that the country continued to “discriminate” against Hungarian companies.

After recalling that OTP Bank, Hungary’s most significant commercial lender, had earlier been included on Ukraine’s “sponsors of war” list, he said that Kyiv now wanted to revoke the licenses of 14 products Hungarian pharmaceutical company Gedeon Richter sells in Ukraine.

Szijjártó made it clear that until the situation changed, Hungary would not agree to an initiative to allocate an additional EUR 1.5 billion from the European Peace Facility to fund weapons deliveries to Ukraine, on top of the EUR 500 million it had earlier blocked.

“The Hungarian position remains firm and clear,” he said. “As long as we do not get a guarantee from Kyiv that they are finished and won’t re-start the witch-hunt against Hungarian companies active in Ukraine, we won’t be able to contribute to such decisions.”

Anantara New York Palace Hotel, Erzsébet krt. 9-11, 1073 Budapest Contact the DUIHK to register on ahkungarn.hu

Briefing In partnership with May 22, 8-10 a.m.

The next CEO Breakfast, brought to you by the German Hungarian Chamber of Industry and Commerce (DUIHK) and the Budapest Business Journal, will focus on a subject that affects us all, both personally and as employers, whether working directly in the sector or not: healthcare. The CEO Breakfast will explore the healthcare and pharma landscape in Hungary and the new industrial strategy for the sector recently outlined by the Ministry of National Economy. According to the State of Health in the EU Hungary Country Health Profile

2023, spending on health in Hungary is among the lowest in the EU, with only Croatia, Slovakia, Poland, Bulgaria and Romania behind it. The numbers of doctors and nurses are below the EU average. Hungary spends less per capita than the EU average in all healthcare categories (total spending, inpatient care, outpatient care, pharmaceutical and medical devices, prevention, long-term care, and administration and others). Join us as we aim to flesh out the Healthcare vision of the Hungarian Government.

NICHOLAS PONGRATZ

Balázs Orbán, the Prime Minister’s Political Director (center), speaks alongside Heather Nauert, former Foreign Affairs Spokesperson of the U.S. Trump Administration (left) and Bertrand de La Chesnais, politician and retired French Lieutenant General (right) at the conference entitled “Towards a Stable Future: Adapting to a New World Order,” at the Ludovika Campus of the National University of Public Service in Budapest on April 22. Photo by Zsolt Szigetváry / MTI

Hungarians are Wolfing Down Their Workplace Meals: Study

The vast majority of Hungarians are aware that the way they eat during the day can significantly improve or worsen performance at work, yet in practice, most tend to forget about this and try to get through their workplace meal as quickly as possible, according to Colorful Bowls Research conducted by Eisberg via Opinio.

BENCE GAÁL

Approximately three-quarters of those surveyed in the representative study said they spent half an hour or less on lunch; about one-fifth said it took less than 15 minutes. The research also showed that the majority of Hungarian workers swear by home cooking; most eat food brought from home to get through the day, and many claim they rarely snack during the day.

Eisberg’s Colorful Bowls Survey, conducted for the first time this year to run alongside a new healthy lunch product line, has revealed some surprising trends in how people eat at work or home during the day.

“I was delighted to be involved in the development of Colorful Bowls because, in our fast-paced world, these complex salad bowls contribute to a balanced diet, providing valuable nutrients such as fibers, vitamins, minerals, antioxidants and complete proteins, as well as a delicious combination of flavors,” says Kinga Shenker-Horváth, a dietician at the Hungarian University of Physical Education and Sports Sciences and Eisberg brand ambassador.

“With this in mind, we wanted to investigate how conscious Hungarians are about nutrition and eating at work, how much it matters what they eat, and how much time they spend eating,” the expert explains.

The 15-minute Lunch

For many respondents, it is true that, in their daily rush, they eat lunch as quickly as possible to have more time for work and other activities. According to the research, more than half (53%) of those surveyed spend only 15-30 minutes on their lunch break. Almost a quarter of respondents

Health

Matters

A monthly look at health issues in Hungary and the region

with the post-COVID remote working trends, more than half of those surveyed (52%) say that their workplace gives them the opportunity to work from home, meaning they can manage their meals at home during the day.

More Conscious Choices

Sadly, though, just under a third say that this gives them more time and makes them more conscious about what they eat. This means that the rise of the home office has not brought Hungarian workers any closer to healthy, balanced eating, the survey notes.

“Home-cooked food is not only cost-effective but can also be a more conscious choice, allowing us to keep a closer eye on what we are eating. This is harder to control when buying food from nearby restaurants, takeaways or the canteen at work.”

(21%) spend even less time downing their lunch within 15 minutes.

The time factor is one thing, but what people have on their lunch plates is also an important consideration. Although the majority of respondents (54%) still prefer an omnivorous diet, many people stick to the filling dishes of Hungarian cuisine (23%), and others follow a special diet, such as vegetarian or vegan.

The survey found that the majority of respondents, at 59%,

eat food brought from home. This trend is particularly prevalent among women (65%).

“Home-cooked food is not only cost-effective but can also be a more conscious choice, allowing us to keep a closer eye on what we are eating. This is harder to control when buying food from nearby restaurants, takeaways or the canteen at work,” Shenker-Horváth adds.

The absolute work-defining issue of recent years is the home office. In line

There are stressful days at work in every workplace. Relieving the pressure leads many Hungarians to snack during the day. However, the responses show that most of us can resist the temptation: nearly half of respondents (45%) said they rarely snack during working hours. Only a fifth of respondents say they often snack. Bringing snacks from home and infrequent snacking at work implicitly suggests that most Hungarians are aware that well-chosen snacks have an impact on their energy levels and concentration. The research also specifically asked about the relationship between food and performance: nearly half of respondents, some 45%, said that eating healthily every day improves their overall performance at work.

Shenker-Horváth stresses that making the switch to mindful eating can make a difference to both our physical and mental health.

“Eisberg’s new Colorful Bowls are designed to offer a health-conscious alternative to quick lunches at work. These bowls are not simple salad bowls but complete main meals, containing fresh vegetables, protein sources such as meat, fish, cheese or eggs, and grains (pasta or bulgur). They are tasty, nutritious and provide a balanced nutritional intake for busy days,” the nutritionist adds.

Kinga Shenker-Horváth, a dietician at the Hungarian University of Physical Education and Sports Sciences.

German Companies Want Predictability and the Euro

Two significant business organizations, the Hungarian economic research institute GKI and the GermanHungarian Chamber of Industry and Commerce (DUIHK), have recently published data on the economic mood in Hungary.

Balance of Positive and Negative Answers Regarding the Current Situation of the Hungarian Economy

The business sentiment of Hungarian companies has been unable to recover from a significant fall in»2022, registering only minor ups and downs each month. This was again the case in the third and fourth months of the year: after a threepoint improvement in March, the business sentiment fell two points in April, according to GKI.

The DUIHK Business Climate Survey, published twice a year, in spring and fall, gives a more detailed insight from German companies operating in Hungary. To provide some context to the spring

2024

report, which carries the subtitle “Weak Growth Prospects, Challenges in the Labor Market,” let us look briefly at the findings of the 2023 survey. Last year, the situation of the Hungarian economy was described as “significantly worse” than in spring 2022, with the outlook for the next 12 months seen as relatively weak, according to the feedback provided by 250 executives of DUIHK member companies.

As for the quality of the investment environment, respondents were critical of the predictability of economic policy, which most likely reflects state interference in market mechanisms, such as administrative price regulations or intervention in foreign trade. Overall, the share of companies with a positive outlook equaled those

with negative expectations. The last time the ratio was this negative was 10 years ago, the 2023 survey reported.

Bottoming Out?

The tone of this year’s study has not improved much. At the launch event, DUIHK President András Sávos said that after the “very pessimistic expectations” reflected in the fall 2023 report, the lowest point may have been reached, but a significant economic rebound cannot be expected as yet.

Only 14% of the respondents rated the situation of the Hungarian economy as “good,” while 41% saw it as “bad,” even worse than the 2023 report. Although the balance between the positive and the negative answers has improved from -36 to -4, we are still far from what could be seen as signs of perceptible economic growth, Sávos said.

Not surprisingly, given this environment, barely more than a quarter (27%) of the respondents consider their current business situation as “good,” down from 39% last year. In comparison, a majority of 59% described it as “satisfactory” and 14% “bad.”

A quarter expect the situation to worsen this year, while 29% count on an improvement. On a regional comparison, the Hungarian results are average at best and, in most cases, weaker.

While the macroeconomic environment may be accepted as a given, the companies would expect at least the variables to show some improvement. However, the score for critical factors like economic policy and legal certainty remained low and even worsened compared to last year, when they were already indicated as problematic areas, Sávos said.

were the fight against corruption and transparency of public procurements.

Mid-table

Despite all these factors, Hungary is situated relatively well in regional comparison, ranked seventh among 15 countries, with Poland, Estonia and Lithuania leading the list. On the positive side, Hungary has a well-functioning state administration and infrastructure, and here, Hungary is placed among the five best-performing states in the region.

For years, a critical issue for companies has been the availability of a skilled workforce. Dirk Wölfer, the chamber’s head of communications and the survey’s author, pointed out that the labor shortage and the costs related to the labor force have long been significant challenges.

More than half (60%) of respondents were more or less unsatisfied with predictability, and 48% were unhappy with the level of legal certainty. Such figures were last registered in 2017, the German chamber says. The continuous “governing by decree” since 2020 does not contribute to efficient planning and predictability of business, Sávos noted. Windfall taxes also do not indicate a healthy budget; generally speaking, interventions in economic processes always come with high risks, Sávos noted. For 10 years, between 2012 and 2022, satisfaction regarding the tax system was on an upward trend, but that started falling in 2023 and has continued in 2024. Other factors perceived as unsatisfactory in Hungary

With slower economic growth, the absorption of the labor force lowered, which was somewhat helpful for companies. Still, 55% of the respondents were unhappy with labor force availability, although this percentage is not outstanding within the region. The most sought-after categories are physical workers for industrial production, IT specialists and research and development professionals.

As for the cost of labor, these are among the lowest in Europe, barely onethird of the German level. However, these costs are growing, and productivity cannot keep pace, which means that companies will have to raise retail prices. This will have a negative impact on competitiveness, Wölfer warned.

Finally, the German chamber members were asked whether Hungary should join the euro, and an overwhelming majority, 73%, replied “Yes.” Such a high ratio has not been seen since 2011 and is related to the volatility of the HUF/EUR rate, Wölfer said.

Balance of Positive and Negative Answers Regarding Expectations for the Hungarian Economy.

BALÁZS BARABÁS

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Prohuman Moves to Renewed Management Structure

The board of directors of Prohuman Zrt., a group of companies operating across seven countries, has appointed Ágnes Tóth as CEO.

Holding degrees in mathematics, computer science, and finance, as well as a doctorate in economics, Tóth brings her expertise from academia to the HR services sector. She held various management positions at Budapest Metropolitan University (METU) from 2009 to September 2023, culminating in her role as CEO and president of the institution from 2019 to 2023.

“As a company continuously evolves, it eventually reaches a critical size where its previous structure becomes inadequate. Celebrating its 20th anniversary, Prohuman has reached this juncture, serving over 1,000 clients and employing 25,000 people every day across seven Central European countries,” remarked Sándor Zakor, chairman of the board of Prohuman.

“We have reached a point where the founders, who have been managing the company thus far, can step back from day-to-day operations. Consequently, we are transitioning to a renewed management structure while preserving our core values.”

Tóth stated, “Prohuman stands as a market leader in Hungary, boasting a team of top-tier professionals and solidifying its status as an indispensable service provider in the region. As a leader, I have always been committed to continuous improvement, refusing to rest on past successes.

Recognising Prohuman’s substantial potential for further expansion, I am delighted to collaborate with the owners in bringing their vision to life and unlocking its growth potential.”

The new CEO emphasizes the importance of innovation, focusing primarily on the development of AI and its impact on education and the economy. She believes that state-of-theart technology provides professionals with new tools that are invaluable in HR, according to Prohuman.

“AI will fundamentally affect the future of the labor market, potentially transforming up to 50% of job-related skills and expertise within the next five years. At Prohuman, our goal

Budapest’s Chez

Chez Dodo, a little shop near St. Stephen’s Basilica that is considered a piece of Paris in downtown Budapest, celebrates its first decade this year.

BENCE GAÁL

2024 is the 10th anniversary of Dodo giving way to his passion and opening a shop where the finest ingredients from around the world come together to create fantastic desserts that make even gloomy Mondays seem a little better.

The anniversary, which Chez Dodo will celebrate throughout this year, is reflected in the pattern decorating its boxes, some cute mugs, and even scarves and tote bags made by the exclusive fashion brand Tomcsanyi. The collection is available at the shop and online (chezdodo.hu, available in English and Hungarian).

Dodo has also dreamed up some sensual spring desserts, with the

is to develop innovative solutions leveraging the potential of AI to serve our clients,” Tóth explained.

“The first 20 years of Prohuman’s history coincided with an overwhelming evolution of HR services and the role of service providers,” says Zakor. “Twenty years ago, we embarked on our journey in an environment marked by prevalent unemployment. Today, labor shortages are the new reality, emphasizing the importance of employees’ skills and competencies and the need to develop them.”

Prohuman generated revenues exceeding HUF 135 billion last year, the company said.

Central Europe Country Cluster Manager at UPS

PUPS has announced that Marcin Gołębiewski has been appointed head of the company’s Central European Country Cluster, where he will oversee small package delivery operations, business development and strategic direction in this growing region for the company.

His area of operations includes his native Poland, the Czech Republic, Hungary, Slovakia, Romania, and Ukraine. Based in Warsaw, he will report to Kim Ruymbeke, who has accepted the position of president of the newly formed Eastern EMEA region.

“I am delighted to be returning to lead one of Europe’s most vibrant regions. My goal is to help businesses

Dodo Celebrates

Jardin des Sens (“Garden of Senses”) macaron and dessert collection now available at Chez Dodo.

“In my macarons, I’ve always played with ganache, the filling that hides between the two ‘hats,’ but this time, I’ve thought of a bold idea, and I’ve added exciting spices or textures to the hats, which is a cool addition to the taste experience inside the macaron,” Dodo says of the collection.

The Jardin des Sens collection features macarons with bold flavors,

of all sizes in the region to reach their customers with their products and to create new opportunities for them in local and international trade with my exceptional team,” said Gołębiewski. Together, UPS’s Central European companies have more than 2,100 employees in modern logistics facilities designed to support the Central European market. According to eCommerce Europe’s latest report, the Czech Republic and Slovakia lead in the number of internet users buying goods and services online, with 85% and 84%, respectively.

In Hungary and Poland, the figures are 78% and 73%, respectively. Previously CFO for Central Europe, Middle East, and Africa, Gołębiewski played a pivotal role in driving UPS’s commercial expansion and operational improvements to increase the company’s competitiveness.

Gołębiewski joined UPS in 2004 as an accounting associate. He subsequently held various finance roles in the region, Poland and Italy before working as finance director for the Western and CEMEA regions.

10th Birthday in 2024

such as “Aphrodite,” made with a combination of chili, lime and raspberry, and “Artémis,” crafted with a combination of Ceylon cinnamon, an intense pistachio cream, and a tart but spicy cherry compote. Naturally, the fans of the sweet, more conventional macarons will also find plenty of treats to pick from, such as “Perséphone,” made with Valrhona cocoa, and a chocolatemarshmallow ganache enriched with toasted cocoa bean crumble

and a cream made with intense fresh passion fruit and Valrhona Inspiration Passion chocolate. In addition, a giant macaroon is also available in a completely renewed form, with spring flowerlike looks. In this specialty, pink almond blossoms are studded with pistachio crémeux and soft vanilla chantilly drops and complemented in the middle with a delicious homemade pistachio praline and fresh raspberry compote.

Ágnes Tóth

Marcin Gołębiewski

2 Business

Using Data and Research to Improve Hungarian Healthcare

Talk to anyone involved in pharmaceuticals, and they will tell you that Hungary’s highly centralized healthcare system is sitting on a unique data goldmine that very few other countries possess. Learn how best to unlock that, and the results in terms of better patient health outcomes could be transformative.

ROBIN MARSHALL

Cyril Schiever

“We, as a company, want to be sure that we [….] provide the highest support in those programs. Why? Because our company is extremely engaged both on the vaccines front, but also in a number of important disease areas, whether cardiovascular, oncology or others.”

Another area of success has been screening for breast, cervical and colorectal cancers “that compares very well to most European countries,” Schiever notes. For the past seven years, lung cancer, which has a high incidence and poor prognostics, has been a particular focus.

1,100 patients

[.…]. Those trials represent the possibility of working with Hungarian investigators and scientific leaders to generate data critical to our research programs and for medicines and vaccines to make it, hopefully, towards registration.”

Cyril Schiever, president of the MidEurope Region for MSD, one of the largest pharmaceutical companies in the world, was in Budapest in late April on a trip to meet staff, partners and policymakers. He is as keen as anyone to unlock the potential of that data and see the relationship with Hungary continue to blossom.

“The key for us, and the conversation we’re having, is that we’re committed to Hungary,” Schiever tells the Budapest Business Journal in an exclusive interview. “We feel we’ve had an impact on patient health and public health in general over the last years; we’ve got strategic collaborations with several institutes; we do – and intend to continue doing – a lot of research.”

According to Schriever, MSD has “the largest clinical trial footprint of any company in Hungary.

All of this underscores the importance of Hungary to MSD. “There are countries around Eastern Europe where we may have more employees, but when it comes to clinical research, Hungary has a very special place.”

In other words, MSD (which develops and produces human medicines, vaccines, biological therapies and, unusually, also animal health products) both draws from and contributes to that data bank. And because it has a vested interest, it isn’t afraid to make the occasional suggestion.

“Hungary was in the lead, in many aspects, in Eastern Europe for years. We see that today is a pivotal time. Do you truly want to remain in the lead? And do you give yourself the means to be in the lead?” Schiever challenges.

Be Bold

“[In] the last 24 months, we’ve seen several countries be more ambitious. We believe Hungary has everything to [….] be as bold in healthcare as it is in a few other sectors. And that is what we’re

Schiever describes himself as an optimist, but it is also clear he is a realist who understands that any spending decision a government (any government) makes is a trade-off against all the other choices it has to make. But that doesn’t mean it isn’t worth asking the question.

“Yes, there are some constraints, some financial. I know these are hard choices, but I believe they’re valuable choices,” Schiever insists. Nor is he interested in simply going on the attack. He believes the authorities recognize that “not everything is optimal” and that “within the boundaries that they have,” they are trying their best.

“I want to commend them for what they have done, for example, over the course of the last 18

months

as a result of some of the learnings from the pandemic, to have taken measures to improve [the] remuneration of healthcare professionals [….]. That was a very important move from the authorities.”

Particular strengths of Hungarian healthcare (“the result of very determined policy decisions over the years”) include prevention through screening and vaccination. Examples include its childhood vaccination programs, based on a high level of adherence, public confidence, infrastructure, and the quality of the vaccines used.

Significant Change

“Through the work done, including the early introduction and adoption of a new class of medicine that we call immunotherapy, they’ve doubled the survival [rate]. It was just a little bit over one in 10 patients would survive after three years with an advanced lung cancer [diagnosis]. Today, it’s more than three out of 10. [….] That is very significant.”

There are, Schiever says, any number of countries trying to build a data infrastructure like Hungary. Given the foundation it already has, the focus here is on “the ability to leverage even further such data.” Why? “Because the future is all about choices. The innovation available today, the innovation that is coming, is very exciting, honestly, and could profoundly impact healthcare and Hungary,” Schiever says.

“What is very positive is that there is a higher awareness among the policymakers [here] that the life expectancy is not where they would like it to be, that there are several challenges, including in the younger age population, and that they want to see progress there,” the MSD leader outlines.

Like many countries, Hungary struggles to finance its healthcare needs. Therefore, what’s critical for governments is their ability to make decisions in two aspects. One is being more efficient. Because, however good, all systems have inefficiencies and waste. The second aspect is that decisions are data-, not price-driven. Often, if the data is lacking, healthcare authorities take the cheapest option.

“The challenge with that approach is that you may not use the right technology, the optimal medicines, vaccines or other interventions because healthcare is usually complex,” Schiever cautions.

“I can – and we do this a lot – advocate for increasing financing behind healthcare. And, honestly, they should. Hungary has one of the lowest budgets, as a percentage of GDP, going into healthcare. But I must also acknowledge the challenges and that this will take maybe 10 years,” he accepts.

“But over the course of those 10 years, we can do so much by ensuring that every intervention has the highest outcome. And that’s what a company like ours stands for because we’re all about research and data. And we’re all about working with the healthcare ecosystem to help produce real-world data. And if we do those two things well, we believe we can add value and help Hungary achieve its goals.”

Lufthansa Technik Budapest Aims to Strengthen and Grow its Market Position

The Budapest Business Journal talks with Thoralf Wagner, CEO of Lufthansa Technik Budapest, about the aircraft maintenance industry globally and the development of the business here in Hungary.

believe these adjustments have been a good investment in our workforce because employees in the lower wage categories, in particular, have been strongly affected by inflation. These measures have helped us retain our well-qualified employees.

BBJ: How do you see the current situation and prospects of the aircraft maintenance market? What are the challenges in the industry?

Thoralf Wagner: Market demand has, luckily, fully returned to its pre-pandemic levels, and we also anticipate a robust future market. Current challenges for airlines arise from the reduced aircraft availability due to issues with newgeneration engines and delays in the delivery of new aircraft, forcing operators to keep their older aircraft in operation longer than planned. Sustaining older aircraft generates additional demand for the aircraft overhaul sector, which is precisely the business our company performs here at Budapest Ferenc Liszt International Airport. The most significant challenges for the aircraft maintenance industry remain the provision of a skilled workforce and the still challenging situation in the supply chain.

BBJ: How did the Lufthansa Technik Group perform in 2023?

TW: Our mother company, Lufthansa Technik Group, returned to the precoronavirus record levels and achieved EUR 6.5 billion in revenue (up 18% compared with 2022) and a EUR 628 million profit

(up 13% vs. 2022). Lufthansa Technik Group, therefore, significantly contributed to the overall Lufthansa Group 2023 result of EUR 2.7 billion, the third best in our history. Lufthansa Technik Group now services 4,600 aircraft and could increase its workforce to around 23,000.

BBJ: What ambitions do you have for the coming years?

TW: Due to significant changes in the aircraft maintenance market, the strategic value of the aircraft

maintenance business has grown considerably for the Lufthansa Group. In November of last year, the group decided not to sell part of Lufthansa Technik to external investors but rather emphasize organic development and launched our “Ambition 2030” growth program. This aims to boost Lufthansa Technik’s revenue to EUR 10 bln-plus in 2030. Growth and size will be decisive factors in remaining a key player in the aircraft maintenance market in the future.

BBJ: How is Lufthansa Technik Budapest developing at the moment?

TW: Lufthansa Technik Budapest has keenly felt the impact of strong market demand, with our hangars consistently at full capacity. In the past year, we completed maintenance on 67 aircraft. According to the feedback from our clients, we excelled in delivering highquality maintenance and great flexibility for our clients. For example, we are already highly efficient, achieving the highest revenue within the group in proportion to our hangar area size. However, the high inflation of the last two years posed a substantial challenge for Lufthansa Technik Budapest, significantly impacting the cost structure. Suppliers increased their prices, and we increased salaries five times. Overall, the budget for wages has grown by around 50%. Nevertheless, we

To restore reasonable profit levels, we had to negotiate price increases with our clients on the one hand and increase our productivity further on the other hand. Therefore, we constantly work on two levers, process optimization and digitization, to reduce waste in our business model and make it leaner. Furthermore, we must keep an eye on our competitiveness within Central and Eastern Europe because our clients are fully flexible in where they will take their aircraft.

The second major challenge after inflation is finding enough skilled workers. Compared to the past, we are investing much more into our internal training school for aircraft technicians and running courses more often. We are doing more marketing and advertising externally to explain the advantages of the job, with constant development and career steps in the first five to six years, which lead to a high compensation level usually only achievable with a university degree. We improved our incentive schemes and provided more flexibility to our employees. They can tailor incentives to their personal needs from a budget per employee.

Through all these measures, we could significantly decrease our fluctuation levels, were able to increase our staff level again and have laid the basics for future growth. In Hungary, Lufthansa Technik currently employs 400 people in the aircraft overhaul unit and an additional 40 people in our engineering unit, which provides mainly digital services.

BBJ: What will the focus be for 2024? TW: The full-year impact of salary increases and cost hikes will manifest this year, posing significant challenges for the company in maintaining reasonably profitable operations. We continue robust recruitment activities, place continued emphasis on employee retention, and organize additional aircraft mechanic training to enhance our performance both in the short and the long term.

In operations, productivity increases will be the main focus. We still see a lot of potential in implementing more digital solutions, which will improve process planning and work organization.

Product-wise, we continue to concentrate on the Boeing 737 and Airbus A320 families, holding all the necessary certifications for their older and innovative new-generation engine-equipped variants. We have no intention to increase complexity by adding additional aircraft types. We believe in a lean organization with the highest productivity output and the lowest complexity.

As part of Lufthansa Technik Group’s long-term growth strategy in aircraft overhaul, Budapest stands as one of the possible locations. The company is committed to maintaining and developing its presence in Hungary.

BBJ STAFF

Thoralf Wagner, CEO of Lufthansa Technik Budapest

An aircraft engineer checks the exterior of an aircraft cockpit window housing at Lufthansa Technik’s Budapest Airport facility.

BUD 1st in Region to Achieve 4+ Airport Carbon Accreditation

Even as final talks for a state takeover of Budapest Airport (BUD) continue (see below), the operator of Ferenc Liszt International continues to rack up accolades. It has now achieved the 4+ “Transition” level in the Airports Council International’s Airport Carbon Accreditation program.

for de-icing aircraft, roads, taxiways, and aprons, the amount of fuel used by subcontractors during construction and development works, and the routes and the treatment of waste and wastewater.

According to BUD, less than 10% (52) of the more than 550 airports participating in the assessment have achieved this level. Ferenc Liszt International is the first in the Central European region.

The ACI’s Airport Carbon Accreditation is the only global, institutionally approved program assessing the carbon emissions of the world’s airports, ranking them on a scale of one to five.

The 4+ “Transition” rating confirms that the airport fully offsets direct carbon emissions from its operations and is working with its partners to reduce indirect emissions. BUD says it has set a long-term absolute emissions reduction target, developed a stakeholder partnership scheme and established a Carbon Management Plan in line with Paris Agreement targets, including a reduction pathway to achieving these targets.

The operator says it has added new elements to the measurement of indirect carbon emissions from the activities of companies operating at Budapest Airport, in addition to reducing its own emissions.

This includes taking into account information on the materials used

Measurements also include the total amount of fuel supplied to airlines and mapping the commuting habits of airport staff. The resulting comprehensive analysis will help Budapest Airport further reduce its environmental impact, together with its partners, and achieve the net zero emissions target set by ACI by 2035.

Rapid Action Needed

“As a responsible airport operator, we are convinced that rapid action is needed to protect the environment and integrate sustainable practices into our daily operations,” says Kam Jandu, CEO of Budapest Airport.

“Achieving level 4+ “Transition” confirms that, with a consistent strategy, combined with a passionate and knowledgeable team, the airport is able to fulfill its essential operations in a more sustainable way. The next step will be to achieve ACI Airport Carbon Accreditation level 5, which will mean attaining net zero emissions, and we aim to realize this by 2035 at the latest,” Jandu adds.

Budapest Airport says it is continuously expanding its fleet of electric vehicles and developing its e-charging infrastructure, encouraging its partner companies to take up e-mobility. Some 96 charging points are available for EVs, and more than 130 units of electric ground service equipment are already performing their tasks at the airport daily.

corporate protocols,” bringing the transaction to a close could take “some days, weeks or possibly months, but let’s hope it’s rather days or weeks,” Gulyás said. Hungary’s government has raised hundreds of millions of euros from the sale of state assets to finance the purchase of a controlling stake in Budapest Airport. The European Commission authorized the acquisition by state-owned Corvinus International Investment and France’s Vinci Airports in December.

Budapest Region’s Best-connected Airport to China, Szijjártó Says

EV charging is also available for passengers; there are already 35

charging points in public car parks. From January 2023, 100% of the airport’s total electricity consumption is covered by renewable energy sources, and work is underway to develop a 7.5 MW solar farm and to prepare the development of a geothermal heating system for the airport.

To date, the company says it has reduced its direct carbon emissions by more than 70% over the last 10 years and has also performed exceptionally well in waste management, recycling 73% of its municipal and packaging waste in 2023, more than double the rate of the population. The company also reduced its natural gas consumption by 22% in one year.

Olivier Jankovec, the director general of ACI Europe, emphasized: “BUD is the first airport in Central Europe to reach this level of carbon management maturity, and […] the airport is also clearly a leader in terms of climate action at a global level. Hats off to the entire team for this significant achievement.”

Gulyás: Sides in ‘Full Agreement’ on Budapest Airport Transaction

Gergely Gulyás, the head of the Prime Minister’s Office, said there was “full agreement” among the parties involved in the state’s planned purchase of Budapest Airport, fielding questions at a regular press briefing on April 25, according to state news agency MTI. As there are many players involved, as well as the matter of “complicated

Three new flights will be launched between Hungary and China this summer, meaning seven major Chinese cities will be directly accessible from Budapest, Minister of Foreign Affairs and Trade Péter Szijjártó announced in Beijing on April 24, according to index. hu. The minister said the twicea-week flights land in Shenzhen, in the southern Guangdong Province. “This means that, from June onwards, seven Chinese cities will be accessible by direct flights from Budapest, increasing the number of flights to 19 per week, which is one and a half times more than before COVID and much more than any other Central European airport or city,” the minister pointed out. On April 23, Szijjártó announced that Xi’an, which has a population of around 13 million and is the capital of the northwestern Shaanxi Province, would also be directly accessible from Budapest, according to origo.hu. Direct Budapest flights already operate to Beijing, Shanghai, Chongqing and Ningbo, while a fifth connecting the capital with Guangzhou will also launch in June.

Strong Quarter for Budapest Passenger and Cargo Traffic

In March, 1,296,509 passengers used Budapest Ferenc Liszt International Airport, 21.7% more than in the same period last year and 10.5% more than in March 2019, operator Budapest Airport announced. The airport handled more than 3.4 million passengers in Q1, exceeding the record year before the pandemic by 10.2%. The increase in passenger numbers is slightly ahead of the company’s forecast that total annual passenger traffic will easily surpass the previous record of 16.2 million by the end of 2024. The airport also handled 23,720 tonnes of air cargo in March, 40.7% more than in March 2023, exceeding the strongest month ever for cargo, November 2023, when 22,206 tonnes of cargo was processed. A total of 61,940 tonnes of cargo was handled at Budapest Airport in the first quarter of 2024, 39.6% more than in the same period last year. The airport is forecast to handle up to 240,000 tonnes of cargo by the end of the year, marking another record year.

BBJ STAFF

Budapest Ferenc Liszt International Airport. Photo by BUD.

Women at the Wheel: Girls’ Day at Bosch

For the 11th time, Bosch welcomed young women interested in science and technology to its annual Girls’ Day, held across four locations. This event provides insights into automotive innovation and production, emphasizing Bosch’s ongoing attempts to promote female participation in these fields through targeted mentorship, training programs, and community engagement.

to pursue careers in these areas, which are perceived as predominantly maleoriented. This reluctance often stems from a significant lack of accessible information or the continued prevalence of outdated stereotypes.

Women in Science

The national Girls’ Day initiative, led by the proactive Women in Science Association, is a direct response to this challenge. It aims to capture the attention of middle and high school girls, steering them toward the considerable potential in the natural sciences, technology, engineering, and information technology, especially for those who may not have previously considered such professional paths.

showcasing the forefront of modern engineering and technological advancements. Additionally, they were presented with various female career paths within the industry, illustrating the opportunities available for women in these dynamic sectors.

Within the secure premises of the Robert Bosch Automotive Steering Ltd. site in Maklár, a group of young women with a keen interest in science and technology were given a detailed tour of the manufacturing processes for critical vehicle components, such as steering gears, steering columns, and steering shafts produced utilizing advanced digitalization and artificial intelligence technologies.

Additionally, the young women saw firsthand the vital roles of product inspectors, metrologists, and materials testing professionals, who conduct various functional tests, 3D measurements, and diverse material testing processes, including advanced X-ray technology.

Complex Processes

Throughout the tour, Bosch’s staff at the Maklár site, including many women who have established successful careers in these traditionally maledominated fields, showcased the complex manufacturing processes with professionalism and dedication.

“Diversity is the engine of innovation: it introduces new perspectives, infuses fresh talent, and stimulates boundless creativity,” said Michael Zink, the Maklár plant manager for Robert Bosch Automotive Steering Ltd., during an address at the Girls’ Day event.

“A significant portion of our workforce, exceeding 30%,

comprises women, and it is noteworthy that nearly a quarter of our leadership roles are occupied by women. I take immense pride in their influential contributions, which have been pivotal to our factory’s success over its more than two decades of operation,” he added. One of those leaders was also at hand to share her thoughts.

“We are committed to providing extensive support to women who are eager to advance their careers within our company,” commented Henrietta Bekényi, HR group leader at Robert Bosch Automotive Steering Ltd.

The day also reflects broader market trends where value and reliability, such as those offered by warranted consumer electronics, remain highly sought after. Bosch says the four venues that offered young women an in-depth look into automotive innovation and production were strategically chosen.

Notably, at Bosch’s Maklár facility (120 km northeast of Budapest by road), young women interested in the sciences and technologies were given the unique opportunity to explore the complexities of vehicle part manufacturing.

Bosch says this initiative highlights its strong commitment to fostering female talent, demonstrated through its investment in mentorship programs that connect seasoned professionals with emerging innovators, comprehensive training sessions to enhance skills and broaden knowledge, and the creation of dynamic community engagement opportunities that promote networking and professional growth.

Many young girls, despite having the necessary talent and an eagerness to explore research and development, information technology, or the automotive sector, frequently hesitate

In this year’s iteration, Bosch hosted participants at its Budapest Innovation Campus (at Robert Bosch utca 14 in Pest’s District X) and its Hatvan (57 km northeast of the capital) and Miskolc (188 km northeast) facilities, in addition to those in Maklár.

Attendees had the opportunity to gain a comprehensive understanding of the latest manufacturing processes,

This year, the participants observed the detailed production and assembly of Servocom units— critical to commercial vehicle steering mechanisms—operated by highly automated machines finely tuned to function under the close supervision of human operators, ensuring an effective integration of technology and manual control.

“It’s crucial that we expose young people to the thrilling realm of innovation, research, and development from an early age. Our involvement in dual education programs, support for academic competitions at schools and universities, and opportunities for internships and summer jobs are all part of our initiative,” she explained.

“We are thrilled to participate in the Girls’ Day program, showcasing the attractive career opportunities within automotive development and encouraging young women to consider these paths,” Bekényi concluded.

Women@Bosch: Providing Support and Opportunities for Growth

At the core of Bosch Group’s corporate strategy is a profound commitment to diversity, the company says. This goes beyond mere rhetoric and is supported by numerous studies showing that companies with a diverse leadership team of men and women tend to create more dynamic workplaces and achieve greater business success.

Research further supports that mixed-gender teams at all company levels are more innovative and tend to produce superior products and services, highlighting diversity’s vital role in enhancing problem-solving capabilities and fostering creativity.

Bosch has implemented specific programs like the Business Woman and Female Talent mentoring initiatives to strengthen the professional development of women within the company. These programs provide targeted training sessions, workshops, and ongoing learning opportunities to empower women to advance their careers.

These efforts are supported by Bosch’s commitment to a flexible and family-friendly work culture, which is crucial for supporting women through various career stages. The company says it has adopted policies and practices that accommodate unique life situations and help maintain a

balance between professional duties and personal life, with particular consideration for supporting mothers returning to work.

Furthermore, the globally and nationally active Women@Bosch network acts as a platform for promoting female career development. This self-organized community creates an environment where women can participate in presentations, discuss, and share personal experiences and insights. The network plays a vital role not only in motivating women to advance in their careers but also in cultivating a culture of inclusivity and mutual support within the company.

Female students are given a guided tour around the Robert Bosch Automotive Steering Ltd. site in Maklár. Photo by Bosch.

Marriott Launches LevelUp Program in Budapest: ‘Be Curious, Connected and Courageous.’

Some 25 young adults from all over Hungary applied for the first-ever staging of Marriott International’s LevelUp program, a three-month training scheme that aims to educate participants about the ins and outs of the culinary side of the hospitality industry.

Nine students have been accepted to participate in the pilot program, studying next to the head chefs of four of the various Marriottbranded hotels in Budapest.

“Youth is the DNA of the Marriott,” says Pankaj Birla, Marriott International’s area vice president for Germany, Austria and Switzerland, and Eastern Europe, at Marriott’s LevelUp press event on April 18.

Birla and Francisca Martinez, chief human resources officer, EMEA, emphasized Marriott’s devotion to youth development, one of the main reasons behind the launch of the LevelUp program. They noted that, after the overall decline in the hospitality industry due to the COVID-19 pandemic, Marriott wanted to “partner with the youth” to preserve the “resiliency of the hospitality industry.”

Birla highlighted Marriott’s commitment to finding and managing new talent and providing the younger generation with more opportunities in hospitality. At the same time, Martinez said she believed that everyone has the opportunity to lead in any position within the industry.

“Be curious, connected and courageous,” she advised the students.

The idea for the LevelUp project has been in the works for the past two years. The students will spend one day a week in the kitchen of the hotel they have been assigned to, focusing on attaining the practical knowledge needed for a culinary career. The rest of their time will be spent in the classroom, studying the theoretical aspects of gastronomy and hospitality.

Four luxury hotels across Budapest are welcoming the students taking part in the training program: Dorothea Hotel, The Ritz Carlton, Budapest Marriott Hotel, and W Budapest. The hotel’s head chefs will mentor the students assigned to their location.

Why Hungary?

With a focus on youth development and investment in the younger generation of workers, Birla explained that one of the reasons he had Hungary in mind for the location of the debut of Marriott’s LevelUp program was the amount of potential he saw in Hungarian youth.

“I come to Budapest, and I see a lot of young people in the streets,” he shared, adding, “Programs like [LevelUp] make the industry.”

Birla explained that the amount of hospitality platforms Marriott offers in Budapest also contributed to the decision.

“Marriott has nine hotels in Budapest, three in the pipeline. There are a lot of places to choose from for beginners in the field,” he says.

Although the program’s launch has only just happened, the longterm goals within Hungary and the Central and Eastern European

region have already been determined. Martinez and Birla agree that the main focus is showcasing and providing opportunities within the hospitality industry to the new generation of leaders.

“Marriott has nine hotels in Budapest, three in the pipeline. There are a lot of places to choose from for beginners in the field.”

Martinez added that the LevelUp program hopes to act as a “career investment” for the students involved. Although they will inevitably center their training around the culinary aspect of hotel operations, they will also learn about general management within hospitality.

According to Martinez and Birla, the transferable skills the students will acquire will apply in many branches of the industry. Marriott says it also plans to run the program across various different hospitality departments, with varying lengths of training time, but there are no immediate plans to extend it beyond Hungary.

Localization Partners

When it finally came time to implement the LevelUp program in Budapest, Marriott International partnered with two Hungarian organizations to help localize the project.

Those partners are the Budapest Complex Vocational Training Center (BKSzC), an organization focusing on talent management and specialty education for students, and Civil Impact, which promotes collaboration between various sectors and provides partnership opportunities for businesses.

Civil Impact assisted in getting the LevelUp program well-known across Hungary and with the students’ application and selection process.

László Kozma, deputy director general of BKSzC, shared that its main priority through its sponsorship of the LevelUp program is the “replenishment of staff within the hospitality industry,” which otherwise might prove to be a “big challenge.”

According to Gyöngyvér Kiss, managing director at Civil Impact, its main point of concentration is the career opportunities of Gen-Z workers and the integration of sectors for future projects.

Marriott International also runs a management training program similar to LevelUp in more than 50 countries worldwide. The Voyage Program focuses on entry-level leadership and management training for young adults. Participants of this program immerse themselves in management tasks and departmental responsibilities, experiencing the world of hospitality through a year-long training program in any hospitality field they choose.

Representatives of Marriott International stated that, like LevelUp, Voyage is also an investment into the next generation of leaders and managers in the hospitality industry.

LUCA ALBERT

Talking Points: from left, Francisca Martinez, chief human resources officer, EMEA, and Pankaj Birla, area vice president for DACH and Eastern Europe, both of Marriott International, Cameron McNeillie, general manager of the Dorothea Hotel, Ferenc Kovács, executive sous chef at the Budapest Marriott, and roundtable moderator Zsuzsanna Kiss, HR director for the Marriott Budapest Cluster.

3 Special Report

Telecoms and ICT

Rethinking Mobile: The Rise of Refurbished Phones

With the most recent Earth Day on April 22, refurbished mobile phones are emerging as a sustainable, economically savvy and eco-friendly option. With growing awareness of electronic waste and the high environmental cost of new devices, some consumers are beginning to recycle: cheap iPhones brought from a reliable source and that come with a warranty are now a trend.

Telekom and Yettel are now assisting in collecting these devices by offering a discount of

HUF

30,000

on new Samsung models when you bring in even non-working (but intact) old devices. These devices are taken to a dismantling plant in Hungary via the MoHu system, where each component is properly sorted and recycled.

data deletion and thorough cleaning and repackaging, while the others require minor repairs; these almost invariably involve screen or battery replacement,” he says.

“During this period, they sold fivedigit numbers of such phones, which we consider a good start at the company, and interest is also quite high among the younger demographic,” Zilahi notes. Magyar Telekom’s experts confirmed that the refurbished phones accounted for 2-3% of total mobile sales during this period, indicating room for growth. Some 98% of the refurbished mobiles were Apple iPhones.

Thus, these otherwise expensive status symbol devices are now affordable for customers who, due to their limited financial resources, would previously have had to forego the brand or would be forced to buy from unverified sources. Another attraction of these pre-owned iPhones is the excellent software support: such smartphones will be supported by Apple for many years to come.

On Earth Day, Magyar Telekom shared some fascinating details about its Green Magenta program, which offers residential customers refurbished devices. Mobile recycling is becoming a hot topic as the e-waste from outdated devices and the raw materials and energy required to produce new mobiles increasingly burden our environment.

“This ecological footprint can be reduced in various ways, but it is not enough if only the service providers and device refurbishment companies take action; a change in users’ mindset is also necessary, and this does not happen overnight, especially when the system has its shortcomings,” emphasized Norbert Kreisz, device management center of excellence lead for Magyar Telekom.

Electronic devices, particularly mobile phones, contain numerous environmentally harmful materials and rare metals. The worst thing you can do is throw your old mobile in the trash, but simply forgetting about it in the back of a drawer is hardly optimal either.

Buying a used mobile phone can save you a lot of money, but the risk is also huge. This is true whether you buy from a private individual or let yourself be persuaded in a small, unreliable shop to buy a device of unknown history. These concerns do not arise when choosing a refurbished smartphone from a reliable, professional company.

Recommerce, which has partnered with MTel in Hungary to make refurbished mobiles easily accessible to customers, is one such player. Recommerce, which has sites in France and Romania, collects large quantities of mobile phones from multiple verified sources (including online retailers, operators, buy-back programs, businesses, and so on) and then subjects these phones to a thorough, well-organized, 56-step process.

Economically Viable?

“One percent of the incoming mobile phones are completely unusable and are dismantled and recycled. About 28-30% are not economically viable to refurbish due to being outdated or severely damaged. From these, usable components are salvaged, and the rest is recycled,” explains Recommerce sales manager János Zilahi.

“Of the remaining 70% of smartphones, half are immediately marketable after

“The biggest attraction of these refurbished, tested, securely deleted smartphones is their much lower price compared to new ones, as well as the two-year warranty offered by Recommerce. According to a 2024 survey by [London-based global data consultancy] Kantar, the proportion of such mobiles sold in Hungary is still only

(the EU average is 5.5%), but the used mobile market is 14%, which is outstanding (the average is 10%),” Zilahi added.

The Kantar survey asked customers what they consider important in a resold smartphone. While 70% indicated the lower price, 28% thought the warranty and the ability to upgrade to a better device than when choosing a new phone.

A relatively large percentage (37%) listed recycling as a significant aspect, showing that environmental awareness is not unknown among phone shoppers.

This is particularly important because, on average, the production of a new mobile phone uses 268 kg of raw materials and is associated with 66 kg of CO2 emissions (the total CO2 load is 85-100 kg CO2 unit). The total CO2 emissions for refurbished smartphones are 87% lower, and they require, on average, 154 kg less raw material.

Market Testing

MTel launched its program in the fall of 2023 and has thus gained some experience in the refurbished mobile market.

“One percent of the incoming mobile phones are completely unusable and are dismantled and recycled. About 28-30% are not economically viable to refurbish due to being outdated or severely damaged. From these, usable components are salvaged, and the rest is recycled. Of the remaining 70% of smartphones, half are immediately marketable after data deletion and thorough cleaning and repackaging, while the others require minor repairs; these almost invariably involve screen or battery replacement.”

It is worth noting that if a part replacement was necessary during the refurbishment, Recommerce is not certified to use authorized Apple replacement parts. However, it ensures the new component is fully compatible and identical to the original.

From left, Norbert Kreisz, device management center of excellence lead for Magyar Telekom, and Recommerce sales manager János Zilahi.

Hungarian Tech Journalists Honored by Siemens

The Hungarian leg of the Siemens Media Award 2024 rewarded the work of journalists and content creators who excel in technological topics on April 18. It also undermined the commonly-held belief that the industry is male-dominated: four of the five winning submissions for Hungary were from women.

aspects of society, were eligible for submission. Areas taken into consideration by the jury included the relevance, novelty, style, and the added value of the author to the topic.

Some 21 entries were evaluated for the Hungarian round of the regional competition by an independent local jury consisting of Ilona Kocsi (president of the National Association of Hungarian Journalists), Enikő Vass (a former Siemens Media Award winner) and Márk Arató (head of communications at Siemens Zrt.)

Content published between April 1, 2023, and April 5, 2024, demonstrating how technologies can advance sustainability, the economy, or other

Telecoms

In addition to Hungary, other regional countries competing for the Siemens Media Award 2024 are Austria, Bulgaria, Croatia, Czech Republic, Poland, Serbia, Slovakia, and Slovenia, with five winners selected in each nation. The theme of this year’s competition was “Technology with Purpose.”

The first place entry for Hungary went to Judit Kis for her article “They Don’t Try, They Dive in and get it Done,” which discusses the innovation of refillable aerosol deodorants. The piece appeared in the June 2023 issue of Forbes Hungary.

The other two top contestants were Virág Zákányi, recognized for

in Brief News

Yettel Revenue up to EUR 615 mln in 2023

Revenue of telco Yettel Hungary rose in the double digits to EUR 615 million last year, CFO József Takács said on April 16. The after-tax profit fell “moderately” to EUR 6 mln, Takács noted. He added that the telco will publish its final results for the year in May. Public records show Yettel Hungary had a net revenue of HUF 217 billion in 2022. The telco is owned by the Czech Republic’s PPF Telecom Group . In unrelated news, Hungary’s government has signed a cooperation agreement with Yettel Hungary and infrastructure company Cetin Hungary Zrt. , according to a press release. Under the agreement, which also affirms the government’s commitment to phase out the windfall profit tax for telcos from 2025, Yettel Hungary and Cetin Hungary have pledged to plow at least HUF 72 billion into network

developments by 2028, raising 5G coverage to 99% of residential areas by the end of the period.

Cetin Partnering With Pécs Uni

The independent, integrated telecommunications infrastructure provider Cetin Hungary Zrt. and the Faculty of Technology and Informatics of the University of Pécs will cooperate in three priority areas in the future: the development of cyber security services, further raising the standard of research and development activities, and the increasingly widespread and well-known building information system in the construction industry, according to profitline.hu. The goal of Cetin Hungary is to contribute to the education of professionals with advanced technical knowledge through joint research programs and innovative projects in the field of telecommunications and, at the same time, to promote cooperation

her article “Therapy in VR Glasses,” published on the GyártásTrend news site in October 2023, and Brigitta Kocsis-M., who was awarded for her report “Minimally Invasive and Robotic Surgical Procedures,” aired on March 18, 2024, in an episode of Novum TV. All three received a hotel stay for two as part of their prize.

Special Awards

Special awards were presented to Enikő Bohák for her editorial “How Food Waste is Recycled: Dutch Bread in Circulation” (in the Zöld Ipar Magazin news site in August 2023) and István Sarusi for his article “Making the Invisible Visible,” published in March 2024 on the National Geographic’s online platform. Eszter Bakondi-Kiss, communications expert at Siemens Zrt., explained that the Siemens Media Award’s tradition goes back roughly 10 years

between the architectural profession and telecom infrastructure developers. The company says it wishes to participate in the high-quality training of the future workforce, especially in areas of priority regarding HR needs.

MTel Shareholders Approve HUF 41.6 bln Dividend Payout

The shareholders of Magyar Telekom approved payment of a HUF 41.6 billion dividend on last year’s earnings at an annual meeting on April 16, the telco announced on the Budapest Stock Exchange’s website. MTel had a standalone profit of HUF 74.4 bln in 2023. The AGM also voted to reduce share capital by HUF 3.3 bln to HUF 93.9 bln.

FiberHome to Set up HUF 8 bln Plant in Hungary

Chinese telecommunications equipment maker FiberHome will invest HUF 8 billion to set up an optical cable plant in Kisbér (107 km west of Budapest by road), Minister of Foreign Affairs and Trade Peter Szijjártó said on April 24 in Beijing. A government grant will cover 15% of the investment cost, which

in Hungary, although there was a three-year period from 2019 when it wasn’t presented until the program was relaunched in 2023.

“As the leader in the field of innovation, we aim to promote those who create outstanding media content on the importance of technology in everyday life and to make understandable to the general population how the technology advancements help society, the economy, and sustainability for the better,” Bakondi-Kiss tells the Budapest Business Journal

The award has gained in popularity since it was relaunched.

In 2023, it was open to seven CEE states, which rose to nine this time.

“We plan to continue this tradition and encourage more journalists to create meaningful pieces showcasing how digital technologies can transform everyday life for the better,” Bakondi-Kiss adds.

The five winning entries qualify for the Siemens regional round, where they will compete against the finalists from the eight other participating countries. An international jury will pick five winners to contest the grand final, hosted in Vienna. The champion will be chosen at the Concordia Ball, with the prize including a trip to the Salzburg Festival in Austria for the winner and their partner.

will create 150 jobs, the minister said after talks with company heads following a meeting of the ChineseHungarian Joint Economic Commission. If capacity at the base, which will be FiberHome’s most extensive in Europe, needs to be expanded, the company will invest further in Hungary, he added.

Optiwella Inaugurates HUF 860 mln

Capacity Expansion

Hungarian telecommunications company Optiwella inaugurated a HUF 860 million development at its base in Szeged on April 9, according to news wire MTI. The government supported the investment with a HUF 500 mln grant from funds earmarked for the National Export Protection Program, Minister of Foreign Affairs and Trade Péter Szijjártó said at the ceremony. Optiwella, which supplies premium quality refurbished Docsis cable modems and so-called cable modem termination systems, created new capacities with the investment to improve its international competitiveness. The minister added that the government had supported 43 businesses with a total of HUF 64 bln, helping the companies invest a combined HUF 130 bln under the program.

MAJA PÉNZES

The Hungarian winners of the Siemens Media Award 2024, from left: and István Sarusi, Brigitta Kocsis-M., Judit Kis, Virág Zákányi, and Enikő Bohák. Photo by Siemens Zrt.

Artificial Intelligence Cannot Beat Critical Thinking

Occasionally, Hungarian PM Viktor Orbán makes statements that fuel heated discussions in the public space. The latest was presented on April 24 at the opening event of the 17th Star of the Technical Profession Festival (Szakmasztár) in Budapest. About 15-20 years ago, Orbán recalled, it was generally accepted that university graduate professionals in intellectual jobs would shape the future of Hungary. But today, the technical workers and craftspeople are the backbone of the Hungarian economy, the prime minister insisted.

capable of giving instant and coherently phrased (if not always accurate) information on any topic, fears are rising that AI will soon be able to replace several professions.

He continued that, at the dawn of the computer age, many feared that new technologies would replace physical work. It turned out that they could not. But now, Orbán said, “office workers, lawyers, clerks and programmers are quaking in their boots.”

The prime minister did not elaborate on the idea. Still, many interpreted his words as suggesting that he considers these professions to be becoming rapidly obsolete, unlike plumbers, masons, carpenters, or auto mechanics, who will always be needed in the Hungarian economy or that of any other country.

Indeed, with the rise of ChatGPT, the artificial intelligence-based search tool

But the reality is much more complex than such narrow thinking allows for, says Balázs Vinnai, the president of the IT Association of Hungary (IVSz). Speaking at a recent roundtable discussion, Vinnai approached the issue of the future of programming and the IT labor force market from the point of view of digital skills.

Even today, digital skills are linked in the public perception to programming. Those with digital skills are automatically labeled as programmers and vice versa, only programmers need digital skills. These perceptions are rooted in the context of 25 years ago when programming mathematicians was a profession, Vinnai said.

But, as with all professions, this has changed, and today, programming sits on an extremely broad spectrum. Meanwhile, the skill threshold necessary for entering the world of programming has continuously lowered,

and the knowledge needed is simpler and more accessible today, Vinnai noted.

AI is not New

Returning to the “AI replaces jobs” theme, we need to consider what AI is and what jobs are. Artificial intelligence has been around for much longer than many may think: specialists at IBM have been researching the technology for 25-30 years. However (and despite inspiring a 2001 Steven Spielberg film: “A.I. Artificial Intelligence”), it has become truly visible only relatively recently, with the spectacular rise of ChatGPT. So, has AI replaced any job in the last 25 years

to the extent that we should worry that it will happen now on a large scale?

No, albeit many processes in the global economy are now automated, and physical jobs are not so, well, physical anymore but are assisted by machines. It is also true that many professions have become much more specialized.

People With Basic or Above Digital Skills, 2023.

There are very few general economists or lawyers; these professions, and others, are now much more segmented: a lawyer specializing in the labor market will not easily be able to deal with divorces.

On the other hand, not all technology changes have induced dramatic changes in the labor market. At the dawn of the industrial era, production shifted from steam-based to electrical machines. And during this process, we did not see droves of unemployed workers retraining as electrical engineers.

If we want to see the future realistically, we need to consider the theory elaborated by futurist Roy Charles Amara, Vinnai says. His law says: “We tend to overestimate the effect of a technology in the short run and underestimate the effect in the long run.”

A good example is the internet. When it started, few were using it, but lots talked about it. Many were expecting the majority of retail to become digital within a couple of years. When this did not happen, disappointment followed, and the dot.com bubble burst in 2001. Later, when Amazon became the largest store in the world in 2010, nobody seemed to notice; we all somehow took it for granted.

The Digital Divide

Similarly, Vinnai says, there will be changes wrought by AI, but not within a one-to-three-year span, but in the much longer term, 10-30 years.

Before AI kicks in, there is another issue that should be addressed, Vinnai adds. The Hungarian society is experiencing a skill gap in terms of digital competencies. Some have these, others do not. And the differences are significant in incomes, resilience to market changes, and quality of life. Narrowing this gap is a social, political and economic responsibility.

The situation is similar to where literacy was after World War I. Back then, it was very low, at around just 10% of the population of Europe. In 30 years, the rate had been raised to

40%,

leading to a surge in productivity. What was laid in that time was the foundation of the wealth of Europe as we know it today. Something similar should be done to broaden the development of digital skills today, Vinnai says.

Programming has undergone an enormous transformation. Most programmers today do not even work at tech companies. Banks like OTP employ many more IT professionals than most tech companies in Hungary. Digitalization has swept across all areas of the economy, and all companies need programmers, albeit with different degrees of competence. However, those who acquire digital skills will face the AI era much more resiliently than those who do not. Plus, there is still one area where AI cannot compete: soft skills. Communication, cooperation, and critical thinking will become ever more valuable. So-called “human thinking” cannot be replicated and will become increasingly valuable in the labor market, Vinnai concluded.

BALÁZS BARABÁS

Balázs Vinnai, president of the IT Association of Hungary (IVSz).

Hungary’s Intellectual Workforce not Getting Most From ICT Support

Hungary’s “intellectual workforce” increasingly works on a hybrid model, and while information and communications technology can give them the tools to do so, they are not always deployed effectively, despite the benefits offered for team management and bonding. IT help desk staff can speak a different language to everyone else, and Excel is used to cover a multitude of tasks, new research suggests.

services, and market research specialists

NRC conducted the nationwide online survey to assess the effectiveness of Hungarian intellectual workers and the tools provided by their companies to address the challenges of teleworking, knowledge sharing, and customer service work.

In a significant shift towards flexible work arrangements, Hungary’s first national representative productivity survey reveals extensive insights into the adaptation to hybrid working models by the “intellectual workforce,” alongside the prevalent use of conventional tools and communication barriers within corporate settings.

The work landscape is evolving rapidly across Hungary as more than a third of the country’s intellectual workers now operate from home for at least one or two days each week, according to the latest productivity survey. This shift towards hybrid working models is expected to continue long term.

Despite this progression, challenges remain, particularly in communication: a quarter of those surveyed report potential misunderstandings at corporate IT helpdesks due to a lack of a common language, even when sharing a mother tongue. Furthermore, a significant majority have not adopted a shared knowledge repository or collaboration tool, relying instead on traditional methods like Excel for task management.

The survey also introduces a Productivity Index, providing a quantitative measure of the efficiency of Hungarian white-collar workers. Meta-INF, a leading provider of productivity apps, and implementation, consulting, training, and support

The findings highlight what the firms say is a critical gap in collaboration. Despite the complex nature of business processes and projects that require teamwork across various divisions, many companies are falling short in effective collaboration, placing them at a competitive disadvantage and leading to unnecessary costs. It is observed that larger companies tend to use collaboration platforms more frequently.

Variable Uptake

These tools, essential for allowing team members to work together and share information, are used by 40% of respondents. However, usage rates differ among business types, being higher among sole proprietors (33%) than small businesses with between 2 and 50 employees (26%). Adoption is lower in sectors such as health, education, public administration, legal professions, and food, while it is more common in science, technology, culture, infrastructure, and energy sectors.

The tools are primarily used for sharing work-related content and documents (74%) and for general internal communication (67%). They are less frequently used for modeling and automating company processes (39%).

“Collaboration tools are particularly important in the world of hybrid working. They are essential not only for managing the team but also for giving colleagues working from home the positive feedback that motivates them,” said Tibor Hegyi, co-CEO of Meta-INF.

Despite the availability of technological solutions, only 34% of

a quarter of those surveyed anticipate problems that are not resolved due to language barriers (26-29%).

Additionally, a similar proportion (24%) often feels they cannot understand their help desk colleagues, as if they speak a “different language.” This issue is reciprocated, with helpdesk staff frequently finding that they do not speak the same technical language (even if they share a mother tongue) as other staff, at 15%, or their clients (17%).

“Customer support, whether for internal or external customers, is not an unnecessary cost, but a strategic area of importance for companies striving for long-term business success,” said Attila Gáspár, co-CEO of Meta-INF.

respondents utilize an online knowledge repository at work to manage and edit information within the organization, and 15%

could not even answer whether such a repository exists.

“This result surprised us, too. But the knowledge of a ‘lone genius’ is no longer enough for a company to excel. The key to success is teamwork, a diversity of skills working together. Knowledgesharing tools play an important role in unleashing the collective knowledge of an organization,” Hegyi added.

About half of the respondents (49%) who do not use a knowledge-sharing system believe they can perform their jobs without it, while a third think they could do so more effectively if they had one. Using task management systems to delegate and track tasks helps avoid duplication and replaces time-consuming administration with automation. Approximately half of the respondents (48%) work in environments that utilize some form of software, system, or platform for this purpose.

The sectors most behind in adopting these systems are education (23%), healthcare, and public administration, despite a significant majority (83%) believing these systems enhance work efficiency. Where such tools are not used, 73% resort to handing over tasks via email.

Hungarian Creativity

“For me, the fact that we solve everything we can with a spreadsheet is a manifestation of the inexhaustible creativity of the Hungarian soul. Today, however, we no longer need to resort to kitchen tinkering if we want to follow the progress of a task or project transparently. That’s what online task management systems were invented for,” Hegyi noted.

Communication issues extend beyond internal workflows to interactions between IT helpdesks and other departments, where more than

“The fact that we solve everything we can with a spreadsheet is a manifestation of the inexhaustible creativity of the Hungarian soul. Today, however, we no longer need to resort to kitchen tinkering if we want to follow the progress of a task or project transparently. That’s what online task management systems were invented for.”

“The satisfaction of internal customers (i.e., colleagues) is crucial in boosting employee motivation and thus increasing company productivity. And external customer satisfaction contributes to successful operations and long-term growth by spreading a good reputation, in addition to strengthening engagement.”

The survey culminated in creating a productivity index for intellectual workers, showing that only 21% of the workforce uses at least three of the four essential productivity tools: collaboration platforms, knowledgesharing systems, task management systems, and IT software supporting the helpdesk function. In light of these findings, Meta-INF has announced plans to compile and regularly publish this productivity index to monitor changes and encourage the adoption of productivity tools across various sectors. This comprehensive survey highlights a significant shift towards hybrid working environments among Hungary’s intellectual workforce. As companies continue to navigate these changes, the increased adoption of advanced productivity tools will be crucial in overcoming the challenges of teleworking and ensuring efficient collaboration and communication across all levels of an organization.

From left, Tibor Hegyi and Attila Gáspár, co-CEOs of Meta-INF. Photo by Gergely Herpai.

Bold Youth Innovations Take Centerstage in ‘Solutions for Tomorrow’

What skills do today’s children need to thrive in the future workforce? While the question may seem abstract, the answer is concrete: emotional and social skills, along with independent thinking, are crucial, even more so than knowledge of artificial intelligence. This is underscored by Samsung and EdisonKids’ joint initiative, the “Solutions for Tomorrow” program, according to Rita Veres, co-founder of the Edisonplatform.

Finals by Samsung and EdisonKids

Furthermore, there is a need to foster empathy in children, a sensitivity that helps understand others’ perspectives, and a trait that benefits adults as well.

Digital Nomads

What about the Alpha generation, those born after 2010? Research suggests they may have weaker emotional and social competencies. Some fear these “digital natives” might become isolated as social interactions increasingly move online. Veres does not believe the situation is hopeless but emphasizes the responsibility of both parents and schools.

The organization phase of the “Solutions for Tomorrow” challenge has now reached a point where the top eight teams have been selected. These teams, committed to advancing education, sustainability, and community development, can begin preparing for the finals.

Prototype Creation

The professional landscape is set to undergo radical changes in the coming years, affecting not only tech-dependent roles but also traditional jobs.

“Some surveys indicate that 65% of today’s preschoolers will work in jobs that don’t yet exist,” Veres stated in a press interview in February. But how well is our educational system prepared to handle this challenge?

“Many from Generations X and Y were socialized in an educational system built on principles from the last century. Since the industrial revolution, education has been governed by efficiency and standardization, which has led us to ‘box’ thinking,” Veres warns. She argues that this old regime has been upended by ongoing changes in the work world, suggesting that the value of factual knowledge will decline, shifting the focus increasingly towards emotional and social competencies, including collaboration, creativity, and critical thinking abilities.

“The generational topic is a doubleedged sword, given the prevalence of generalizations. I think the biggest challenge is strengthening concentration skills, the ability to focus and truly immerse in something. This skill aids not just in learning but also in relaxation. Teaching this to an Alpha generation child is challenging, and the home environment doesn’t always help,” Veres notes.

For her work, she observes families where the digital world completely engulfs children. While it’s difficult to counteract these effects, it’s not impossible, and it’s a collective task involving parents, teachers, schools, and other institutions. This is why she considers the “Solutions for Tomorrow” program a brilliant initiative that heavily relies on participants’ collaboration skills.

In the program, students from grades

7-12

form small teams to conceive, develop, and present ideas that could solve current problems across categories like sustainability, future education, and community. There are no strict content limitations within these categories, allowing a diverse array of entries each year. Younger participants need not worry about being disadvantaged: last year’s gold medal went to a team of 13-year-olds.

Over the next few weeks, they will create and test prototypes of their ideas with the help of mentors. The students are preparing for the final showdown at the end of May, where the top three teams will receive a total of HUF 6 million worth of Samsung devices to enhance their personal and school resources, according to the firm.

“I think the biggest challenge is strengthening concentration skills, the ability to focus and truly immerse in something. This skill aids not just in learning but also in relaxation. Teaching this to an Alpha generation child is challenging, and the home environment doesn’t always help.”

This year’s “Solutions for Tomorrow” challenge participants did not make the selection easy for the professional jury, presenting a range of ingenious ideas. One team from each of Pécs (208 km south of Budapest by road) and Tótkomló (228 km southeast), and six from Budapest have made it to the finals, where they will present their concepts in the last round.

Those focusing on redefining the future of education emphasize using AI-based digital characters to promote learning and reading. Teams fighting for sustainability are developing solutions to replace harmful compound blocks and find innovative uses for Styrofoam. Those focusing on community development are working on supporting the elderly and aligning student housing, digital inclusion for the visually impaired, educational efforts around menstruation, and promoting communal, game-based country exploration.

With another month of preparation left, competitors receive further help through instructional videos to refine their developing concepts. The students’ progress is supported by presentation training and two mentors per team, who provide feedback and insights for the finals.

The top eight teams met in person with other competitors and their mentors on April 27,

not only to celebrate their advancement but to participate in a communication and presentation training by the Momentán Association. With six weeks to go, they have the opportunity to realize their ideas in prototype form and package their visions in a creative, compelling manner.

At the May 31 final, the jury will evaluate presentations based on creativity, critical thinking, feasibility, prototype functionality, presentation skills, and team spirit. Teams can also gain additional points through the thoroughness of their research and the execution of their projects.

The top team will be able to select Samsung devices worth HUF 1.2 mln for themselves, HUF 1 mln for their school, and HUF 500,000 for their teacher, with similar but decreasing amounts allocated to the second and third-placed teams.

Mentors, teams and trainers came together on April 27 to kick-start the Samsung and EdisonKids’ “Solutions for Tomorrow” finals for the top eight teams

ERP Companies

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4 Socialite

Being ‘Larry:’ an interview with Actor Bennett Vilmányi

I came across the Hungarian movie “Larry” when, tired of watching formulaic three-act Hollywood movies or clever-clever TV series on Netflix, I went in search of something a little different. Normally, I don’t watch Hungarian films at the cinema, for the simple reason that they’re rarely subtitled in English. Netflix has a treasure trove of subtitled Hungarian movies.

DAVID HOLZER

Made in 2022, “Larry” was directed by Szilárd Bernáth and stars Bennett Vilmányi as Ádám, a would-be rapper held back by a painful stutter. Bennett’s overbearing, recovering alcoholic and born-again Christian policeman of a father, Zoltán, is played by Szabolcs Thuróczy. Anna Szandtner is Zoltán’s

girlfriend, Noémi, who has recently lost her job at a local factory and is moving in with Zoltán and Ádám.

Unlike other hip-hop “a star is born” movies (Eminem’s “8 Mile” being a prime example), “Larry” doesn’t start out hustling on the mean streets. Ádám, who, for a reason I don’t think is ever explained, adopts the nom de rap “Larry,” works on a sheep farm in the wilds of Borsod County in the far northeast of Hungary on the border with Slovakia.

Zoltán became an alcoholic after the death of Ádám’s mother and beats the boy. The film doesn’t suggest that this caused his stutter. Zoltán is putting pressure on Ádám to partner with him on their own sheep farm, but Ádám doesn’t want to commit.

When Ádám meets Roma rapper CsalaDo, played by László Onofer, CsalaDo is impressed by Ádám’s rap about his

treatment from his father and his anger at the world and records him. Ádám becomes “Larry.” Helped by the Roma hip-hop community, they make a video that goes viral and is entered into the KozmoTalento online talent show which offers a first prize of EUR 30,000. “Larry” is selected as one of 10 finalists in a competition held at Budapest’s real-life A38 venue. Ádám’s problem is that whenever he tries to perform live, he ends up stuttering. He’s reluctant to take part in the talent show in case he’s humiliated in front of millions. But, after sleeping with Noémi and being beaten up by his father, who’s drinking again, Ádám performs in the talent contest with CsalaDo.

Surprisingly Intent

While “Larry” occasionally expects the viewer to suspend disbelief a little too much, it’s a surprisingly intense movie powered by gritty performances. It also does a good job of subverting what could have been a clichéd storyline. When Bennett Vilmányi is onscreen, it’s impossible to take your eyes off him. Vilmányi, who calls himself “the first Bennett in Hungary,” was born in 1994. He grew up in Érd near Budapest. His mother is an entrepreneur, and his father is a musician. As a child, Vilmányi had wanted to be a professional footballer, but after he was cast in a film aged 13, he decided he wanted to become an actor instead and studied acting in Budapest.

While Vilmányi was at university, he appeared in several short films made by students for their final exam. Szilard Bernáth saw Vilmányi in one of these, and when the director was writing the part of Ádám, he had Vilmányi in mind.

Vilmányi says his hero is Andy Kaufman, the wild American comedian best known for playing Latka in the U.S. TV series “Taxi” and the subject of the biopic “Man on the Moon,” in which Jim Carrey played him. Both Kaufman and Carrey are known for their total immersion in their characters, which gives you some idea of how seriously Vilmányi takes his craft. Asked if he drew on any trauma in his own life to portray Ádám, Vilmányi replies, “I don’t believe I need trauma to be a good actor.”

Inverse Therapy

When I ask him how he learned to stutter, he says “I had special training called inverse therapy from a speech therapist. They did the opposite of what they usually do. It was a challenge for both of us, but the result was very believable.”

Although this is undoubtedly true, Vilmányi points out that the film took some dramatic license with the stutter. “It was necessary for the story that Ádám stutters when he raps, but when you rap, you don’t stutter. Stuttering happens when people don’t breathe properly. It was very hard to breathe incorrectly when I was rapping.”

“It was necessary for the story that Ádám stutters when he raps, but when you rap, you don’t stutter. Stuttering happens when people don’t breathe properly. It was very hard to breathe incorrectly when I was rapping.”

As a non-Hungarian, “Larry” felt to me like an authentic window into a part of Hungary I’d never seen. For Vilmányi, from a reasonably privileged background, the experience of filming in this part of Borsod County was also illuminating. “I knew this type of world existed,” he says, “but to actually be in it was a shock.”

When it comes to helping people in this world, such as the Roma, Vilmányi says he believes this has to come from within the community, not from above.

Since “Larry” was released in 2022, Vilmányi has been part of two international movie productions, one of which was with Adrian Brody, whose mother is Hungarian. I expected Vilmányi to see this as a big step up, but he was refreshingly honest, saying, “I don’t like the fact that my English is not so good. I’m much more confident in Hungarian. I can really project in my own language.”

He is, however, thrilled that his work is reaching a far wider audience thanks to Netflix. Judging by his performance in “Larry” I’d say Vilmányi has what it takes to be an international movie star if he chooses.

As well as Netflix, you can also watch “Larry” subtitled in English on www.filmio.hu, the unique streaming platform for Hungarian movies.

Bennett Vilmányi as Ádám/Larry. Photo by Mozinet

Bennett Vilmányi as the rapper “Larry.” Photo by Mozinet

Hilton, Kisterem Gallery, and Lili Horváth Launch Contemporary Art Series

The recently opened Hampton by Hilton Budapest City Center, together with Kisterem Gallery and art consultant

Lili Horváth, have launched “Budapest Art Cosmos,” an initiative to support Hungarian artistic talent and offer visitors immersive cultural programs.

Budapest in the fall of 2023, following openings in the region in Vienna, Warsaw and Târgu Mures, Romania.

The downtown hotel boasts 219 guest rooms and a lobby bar.

The series debuted in the hotel at Dessewffy utca 7-11 in District VI with a solo exhibition by conceptual artist Judit Fischer entitled “Mundane Romance,” which opened free of charge to the public on April 18 and runs until the end of August.

The famously pet- and family-friendly Hampton by Hilton brand arrived in

Culture

Hilton’s commitment to supporting the arts is nothing new. Its Hungarian hotels have regularly supported temporary exhibitions at the Museum of Fine Arts and the Hungarian National Gallery.

The company says this latest Budapest hotel initiative is unique in that it does not aim to purchase works of art from a single artist or a select group as permanent decoration but to create a living and constantly renewing long-term platform for young

in Brief News

Cinema Ticket Sales Climbed 41% Last Year

Hungarian cinema ticket sales climbed 41% to 14.3 million in 2023, according to data released by the Central Statistical Office (KSH) on April 19. The number of feature films released during the year rose 12% to 329, including 47 Hungarian films. The number of screenings edged up 3% to 479,000. There were 150 cinemas with 417 screens in Hungary in 2023.

National Museum Consolidating, Rebranding

The Hungarian National Museum will be renamed according to the official Magyar Közlöny [Hungarian Gazette].

“To develop the cultural, institutional system and fulfill cultural tasks at an outstanding level, the government agrees that the Hungarian National Museum will continue to operate

under the name of the Hungarian National Museum Public Collection Center,” the publication says. Behind the name change lies the organizational integration of public collections. As of July 1, several cultural facilities will be integrated into the Public Collections Center of the Hungarian National Museum. The merging institutions include the Museum of Applied Arts, the Hungarian Natural History Museum, the Hungarian Museum of Trade and Tourism, the Petőfi Literary Museum, and the National Széchenyi Library. They will continue to operate as member institutions of the Public Collections Center.

Ministry Signs Partnership With Times Higher Education

Hungary’s Ministry of Culture and Innovation has signed a partnership agreement with Times Higher Education to strengthen, advance

Culture Matters

A regular look at culture issues in Hungary and the region

University of Fine Arts, is considered by the gallery to be one of the most original and unique artists of her generation, with a conceptual and media-varied practice ranging from watercolor and resin-based object painting to tapestry, sub-weaving and performative art actions, exploring the interrelations and interpenetrability between object and artifact, life and art.

In an exhibition of more than 20 of her works at “Budapest Art Cosmos,” a selection of her latest works on paper will be displayed in the hotel’s public spaces. Her watercolor paintings are portraits of everyday objects.

and mid-generation Hungarian contemporary artists, both established and emerging on the international scene.

The hotel commissioned art consultant and curator Lili Horváth to develop the concept. The first exhibition of the series was realized with the professional and operational collaboration of Kisterem, described by the hotel as one of the most influential contemporary art galleries in the Central European region, and which has been operating for almost 20 years and represents more than 25 highly acclaimed artists at prestigious international fairs.

Born in 1981, Judit Fischer, who graduated as a painter from the

and promote the country’s higher education sector, the ministry said in a release on its website on April 22. Under the agreement, THE will conduct a detailed analysis of Hungary’s higher education system, gauging its performance and benchmarking it with global education hubs in THE’s World University Rankings. State Secretary for Higher Education Balázs Hankó said Hungary aimed to have at least one university in the world’s top 100 and three among Europe’s top 100 by 2030. Currently, 11 Hungarian universities are listed in THE’s World University Rankings.

Agriculture Ministry Committed to Sustainable Viticulture

The Ministry of Agriculture is committed to ensuring that grape growing in Hungary has as little environmental impact as possible and that wines are produced as energyefficiently as possible, Minister of Agriculture István Nagy stated at the meeting organized on the occasion of the 100th anniversary of the International Organization of Viticulture and Oenology in Brescia, Italy on April 12. According

“Her still-life-like depictions invite the viewer to change focus and perspective, which Judit has mastered with great awareness and years of consistent work, and turn our attention from the exceptional to the every day, from the grandiose to the small,” Horváth said in her opening speech.

Andrzej Lejman, general manager of Hampton by Hilton Budapest, said, “We are delighted to launch our exciting collaboration, which aims not only to showcase a slice of Hungary’s rich cultural scene to our guests but also to emphasize our commitment to supporting local diversity and artistic talent.”

He added, “I look forward to building on our meaningful partnership as we continue to operate in Hungary, enriching the experiences of both our guests and local communities.”

to agroinform.hu, the minister drew attention to the fact that environmental protection and sustainability have changed the habits of consumers, which has a significant impact on agriculture and the food industry. The ministry said that the vast majority of wine products consumed in Hungary are produced here, so the sectoral carbon footprint for this country is low.

Gastrotourism Alive and Well in Hungary

Gastrotourism is alive and well in Hungary, as more people are coming to the country to get to know the masterpieces of Hungarian cuisine, the president of the Pannon Gastronomic Academy and the Hungarian Catering Industry Board Balázs Csapody said in a press release. Csapody noted that with the strengthening of gastrotourism, the number of Michelinstarred restaurants in Hungary could continue to increase. Currently, there are two 2-Michelin-starred and seven 1-Michelin-starred restaurants in the country, as well as six Bib Gourmand eateries. These restaurants offer high-quality cuisine, but where you can get high-quality food at a more moderate price, Csapody explained.

BBJ STAFF

A guest admiring some of the works by Judit Fischer at the official launch.

Chamber of Commerce Corner

Belgian Business Club In Hungary (Belgabiz)

Belgabiz will hold its yearly Belgian Dinner this year at the W Budapest Hotel. This prominent event celebrates BelgianHungarian relations and the EU leadership transition in a glamorous ambiance as we bid farewell to Belgium’s tenure and welcome Hungary to the helm of the Presidency of the Council of the European Union. Besides the fine social and gastronomic experience with a Belgian touch, the evening promises excellent fun in an international surrounding with a tombola. Company tables are available.

• When: Friday, June 14, 6-11 p.m.

• Where: W Budapest Hotel, Andrássy út 25, Budapest 1061

• Fee: Members HUF 55,000; non-members HUF 65,000.

Hungarian-French Chamber of Commerce and Industry (CCIFH)

The CCIFH invites guests to celebrate “La vie en Rose” in a very French way at its garden party on Buda Hill, surrounded by nature, lanterns and chansons. • When: Friday, June 14, 5-10 p.m. • Where: Normafa Síház, Eötvös út 59, Budapest 1121. • Fee: Members HUF 36,000 (+ VAT); non-members HUF 54,000 (+ VAT).

The CCIFH’s next hybrid Business Breakfast will take “ESG Requirements in the Hungarian Market” as its subject. The speakers will be: Dániel Erdélyi, head of department at the Supervisory Authority for Regulated Activities; András Bagyura, head of sustainability services at Mazars; Andrea Belényi, partner at VJT & Partners law firm; and András Balásfalvi-Kiss, head of Kingfisher Digital Zrt. • When: Thursday, May 23, 9 a.m.1. p.m. • Where: Well Point Event Venue, Europa Design Plc., Törökvész út 71-75, Budapest 1025

• Fee: Members HUF 19,900 (+ VAT); nonmembers HUF 29.900 (+ VAT).

Hungarian-Norwegian Chamber of Commerce (HNCC)

Adam Laska, a founder and still an active member of the HNCC, organized a “Taste of Hungary” event with the Embassy of Hungary in Oslo on Thursday, April 18. The program aimed at promoting and introducing Hungary to the residents and employees of the “Midtåsenhjemmet” elderly care facility. There was a substantial interest: more than 70 persons attended the show, which successfully presented various aspects of Hungarian culture (music, movies, folk dance, folklore, etc.), gastronomy, and viticulture. The participants had the opportunity to learn more about Hungarian traditions and history and taste authentic Hungarian cuisine, which they found interesting and delicious. The facility director expressed her gratitude for what she described as the most successful program of recent years.

British Chamber of Commerce in Hungary (BCCH)

This year, the BCCH will be hosted for its annual meeting by one of its trusted long-term members, the Corinthia Hotel Budapest. The AGM will take place in the hotel’s Petőfi Room and, after the formal part, will feature the customary networking, including cocktail canapés and drinks on the main terrace. The dress code will be Smart evening wear/Cocktail dress.

• 3:30 p.m.: Registration opens

• 4 p.m.: Welcome speech by Dóra Kulauzov, Honorary vice chairman of the BCCH

• 4:10 p.m.: Chairman’s report presented by chairman Duncan Graham

• 4:20 p.m.: Financial and Auditor’s Report detailing BCCH accounts for 2023 and the budget for 2024, presented by treasurer Douglas Arnott

• 4:30 p.m.: Vote on accepting the Chairman’s, Financial and Auditor’s Reports; vote on approving the annual BCCH budget 2024.

• 4:35-4:55 p.m.: Fireside Chat with Gergely Kiss from Attrecto on “Generative AI Today.”

• 4:55-5 p.m.: The results are announced, and the moderator closes the official part of the AGM.

• 5 p.m.: Reception begins BCCH members will receive all the documents uploaded to a Google Drive folder via email in early May you will receive, including the proxy form and all financial reports.

• When: Wednesday, May 16. • Where: Corinthia Hotel Budapest, Erzsébet krt. 43-49, Budapest 1073

• Fee: Members, free: non-members cannot attend the formal part of the evening, but the charge for the reception is HUF 20,000 (incl. VAT).

Swiss-Hungarian Chamber of Commerce (Swisscham)

Swisscham Hungary will have two noteworthy events in May.

Joint After-work Networking

The next joint event with the NetherlandsHungarian Chamber of Commerce (Dutcham) and the Swedish Chamber of Commerce in Hungary will promote informal networking among the members and partners of the three chambers. Join the chambers for a drink and an accompanying meal while making valuable business and friendship connections in a pleasant atmosphere.

• When: Thursday, May 16, 6-9 p.m.

• Where: Zsiráf Buda, Millenáris, Kis Rókus utca 2-4, Budapest 1024. • Fee: Members HUF 15,000; non-members HUF 20,000.

Health

2024: Nordic Waking with a Professional Trainer

Join Swisscham for a 2.5-hour Nordic walking tour with a trainer. All you need is a comfortable pair of shoes and determination. A qualified Nordic walking instructor will accompany guests on the walk, and poles will be provided. The route is easily walkable, and we will include several rest stops.

• When: Friday, May 24. 9:30-11:00 a.m.

• Where: Meeting point at 1025 Budapest, Törökvészi út 147

• Fee: Members free of charge; non-members HUF 10,000.

Canadian Chamber of Commerce in Hungary (CCCH)

Don’t miss an authentic Canadian BBQ experience. Our upcoming traditional BBQ evening will be held on the 29th of May. Featuring bison and salmon at ÖbölHáz, Kopaszigát, this event is a memorable fusion of Canadian flavors and Hungarian hospitality, offering guests a taste of Canada’s culinary heritage in a picturesque outdoor setting. Experience a great evening with live jazz music in the background and the opportunity to win exciting raffle prizes. Many prominent business leaders in Hungary attend the event from various sectors. Bring your friends and your colleagues.

• When: Wednesday, May 29, 6-11 p.m. • Where: ÖbölHáz, Kopaszi-gát 2, Budapest 1117

Italian Chamber of Commerce for Hungary (CCIU)

From June 21 to 25, the CCIU will participate in the World Convention of the Italian Chambers of Commerce (CCIE) at the Brixia Forum, Italy. The event will see the participation of 200-plus delegates representing 86 Italian chambers from 63 countries, organized by the Brescia Chamber of Commerce in collaboration with its Special Agency Pro Brixia and Assocamerestero. Among the key topics of the Assocamerestero Convention are the bilateral meetings between the CCIE and local enterprises aimed at presenting services and business opportunities offered by the chambers of commerce in the international market, keeping in mind the growth objective of the Italian economy abroad through the network of international relations stably supported by the chamber organizations. The CCIE’s strategic objective is to identify the actions that will allow Italian companies to reach the most profitable markets through an effective internationalization strategy.