Tesco to establish its Central European business services centre in Hungary - VIDEO REPORT

Tesco to establish its Central European business services centre in Hungary - VIDEO REPORT

Péter Szijjártó and Matt Simister, CEO of Tesco CEE

Tesco has chosen Budapest to host its new business services centre (BSC) supporting its operations in the Central European region. The new Center of Excellence unit of the British retail trade company that will fulfill IT technology, financial and HR-related functions is planned to start its operation in April, creating some 800 high value added new jobs in the upcoming years.

The first supermarket of Tesco, a company celebrating the 100th anniversary of its foundation this year, was opened in 1929 in London. Today the Tesco Group is present in 8 countries of Europe and Asia as a dominant player in retail trade, operating more than 6,800 outlets. Tesco's revenues amounted to GBP 51 billion in the 2017/18 business year and it employed a total of 440,000 employees worldwide.

The first Hungarian store of the Budaörs-headquartered Tesco-Globál Áruházak was opened in 1995, and nowadays Tesco is the biggest player in the Hungarian retail sector, having about 800 Hungarian suppliers. The company's revenues amounted to HUF 623 billion in the 2017/18 business year and it employed approximately 16,000 employees. According to the latest business data available, Tesco is currently operating 112 hypermarkets, 35 supermarkets and 59 express outlets in Hungary.

With its brand new investment, the UK-based company enters another sector in our country. The unified regional business services centre (BSC) will create 800 new positions in the fields of payroll accounting, labour administration, product sales administration, customer service and supporting functions related to the IT area.

Hungary has one of the most mature BSC markets in the Central Eastern European region and its dynamic development characteristic of the past two decades has not lost impetus recently, either. Currently there are about 110 business service centres operating in Hungary, employing approximately 50,000 persons belonging typically to Generation Y (born between 1980 and 1999) who have a degree and speak foreign languages. These services centres that provide their services in five languages in the average, or even in more than thirty languages, contribute to a great extent to the opportunity that as many talented and highly qualified professionals can find career development opportunities in Hungary as possible. High salaries, rapid advancement and promotion opportunities and the use of foreign languages, as well as international prospects offer an attractive alternative for young people today, even in the long term.