Hungary Recognized Multiple Times at European Cities and Regions of the Future Awards

Hungary Recognized Multiple Times at European Cities and Regions of the Future Awards

2022. 03. 08.

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Budapest made it to the top ten in three categories at the European Cities and Regions of the Future Awards 2022/23 by fDi Intelligence, a division of the Financial Times Ltd. and the largest FDI center of excellence worldwide. Four more Hungarian cities, namely Debrecen, Veszprém, Székesfehérvár and Tatabánya were also recognized which perfectly demonstrates that Hungary is no longer associated solely with her capital when it comes to FDI. In the rankings of regions Central Hungary as well as the Great Plain and North were awarded. The fDi Intelligence Report containing these rankings also highlights Hungary’s leading role in EV battery technology.

fDi Intelligence publishes its rankings listing European Cities and Regions of the Future every two years. This year’s edition features Hungary multiple times just like it has been the case before.

Not surprisingly Budapest got credit for her performance not just on one account. The Hungarian capitol finished 8th in terms of FDI Strategy in the ranking of Major European Cities of the Future. In the same subcategory Budapest ranked 9 for cost effectiveness, whereas her level of business friendliness was assessed as the 8th best in Europe.

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The times are long gone when Budapest was the sole target location of foreign investors which is very much shown by the fact that a number of Hungarian cities in the countryside were awarded by fDi Intelligence. This development is further justified by the latest data as well according to which in 2021 up to 85 investment deals were closed all over Hungary, excluding Budapest.

From among the countryside FDI strongholds Debrecen excelled in the FDI Strategy ranking of the Small European Cities of the Future category by pocketing the 8th place. Hungarian micro cities were recognized for their cost effectiveness: Veszprém, Székesfehérvár and Tatabánya all raked in top ten positions, and landed on rank 7, 8 and 9, respectively.

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Mid-sized regions were awarded in two subcategories. In terms of business friendliness Central Hungary managed to improve its ranking from a previous 7th place to the current 5th, whereas the Great Plain and North proved to be the 8th most cost effective European region of the future.

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The above-mentioned rankings are listed in fDi Intelligence’s relevant report that gives a thorough overview of the latest European FDI trends. The document highlights that Hungary is among those leading Europe’s EV battery charge as the country announced the third biggest related FDI volume after the UK and Germany in 2020-2021.

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