Hungary business travel information

Doing business in Hungary

Hungary is located in Central Eastern Europe with a population over 10 million, and has nearly fully transitioned from a centrally planned economy to a market-based one since the fall of communism in 1989. It is a member of the OECD (1996), NATO (1999) and joined the European Union in 2004.

Per capita income is nearly two-thirds that of the EU-25 average and total GDP is € 113 billion. The private sector accounts for more than 80 percent of GDP.

Hungary’s strategic location in Europe, access to EU markets, highly skilled and educated work-force, sound infrastructure and other advantages have led companies such as GE, Alcoa, Morgan Stanley, IBM and many others to locate facilities here, both in manufacturing and services. Also Hungary is a very good outsourcing country for IT-services.

Hungary’s geographic position in Central Europe offers a strategic logistical hub within the region. Road, rail, aviation, and waterway networks fan out and offer access to the east and south – Russia and the newly emerging Balkans.

Recognizing the critical role transportation infrastructure plays in economic growth, the government has placed an emphasis on logistics and transportation as part of the EU funded New Hungary Development Plan, together with other areas that will continue to improve the country’s overall infrastructure, such as pollution control, renewable energyand healthcare.

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In case of emergencies

Before you go on your business trip to , Hungary you should always get a travel insurance with a complete coverage.

Make sure your health care insurance is sufficiently covered.
Maybe this is already covered in your regular health care insurance but often you will need to cover this with the travel insurance. Also a good travel insurance should cover the costs of travel for a relative in case of seriously illness or an accident.

The business trip travel insurance should also cover the costs of search, rescue and repatriation.
When you go on business trips on a regular basis, the easiest way to get insured is with an annual multi-trip insurance.

Keep in mind that you can also use this insurance for your pleasure trips so don`t forget to include to insure your leisure activities.

When you need medical assistance the following Medical services provide English language services:

SOS Emergency Medical Service
VIII. Kerepesi utca 15, Budapest, Hungary
Phone: (01) 118-8288 or (01) 118-8012

International Medical Services
XIII. Vaci utca 202, Budapest, Hungary
Phone: (01) 129-8423 or (01) 149-9349

Business Etiquette and Protocol

If your are planning a business trip to Hungary it is a good idea to know at least a little about the culture and etiquette in Hungary. Use these business etiquette tips as a guideline only. There are too many social, personal and business nuances in Hungary to be considered. There is no uniform approach possible for all occasions.
For more in-depth information I suggest you buy and read the "Global Business Etiquettes" book.

• Communication:
  Use formal names, professional and academic titles.
  Hungarians are not very direct, they prefer long stories with a hidden moral in it.
  Never interrupt somebody.
  Dress formal and conservative. Men wear white shirts.
  


• Meetings and negotiations:
  When making appointments use the 24-hour clock time format to avoid misunderstandings.
  Be very punctual, if you suspect you will late, call and explain the situation.
  Never cancel a meeting at the last minute.
  Shake hands with everyone upon arriving at the meeting and leaving.
  Remain standing until invited to sit down or others do so.
  Some time is spent to getting to know you before the business conversation begins.
  Agenda’s are not strictly followed and a meeting can take much longer then planned.
  First appointments can be more socially oriented, Hungarians would like to know you a bit better at first.
  Keep your presentation as short as possible, to the point, accurate and precise, do not exaggerate.
  Follow up a meeting with a letter with all agreements outlined.
  


• Table manners:
  If unsure on how to behave, mimic the behavior of others.
  Wait until you are appointed a seat.
  Avoid alcohol if possible, otherwise drink little.
  Make the first toast. Stand up and wish everybody a good health.
  Put a napkin on your lap, eat not too much but finish your plate.
  Keep your hands above the table when eating.
  After finishing your plate lay your knife and fork parallel across the right side of your plate.
  Thank your host at the end of the meal.
  

Some phrases in Hungarian

Hungarian is a Uralic language unrelated to most other languages in Europe. It is mainly spoken in Hungary and by the Hungarian minorities in the seven neighbouring countries. The Hungarian name for the language is magyar, which is also occasionally used as an English noun, such as Mighty Magyars.

Although in business people speak some English, some Hungarian phrases can always come in hand....

Good morning	Jó reggelt kívánok
Good afternoon	Jó napot kívánok
Good evening	Jó estét kívánok
Good night	Jó éjszakát
It’s nice to meet you	Örülök hogy találkoztunk
Thank you (very much)	Köszönöm (szépen)
What is your name ?	Mi a neve ?
What is this ?	Mi ez ?
What is the time ?Mennyi az idő ?
How are you ?	Hogy van ?
I don’t understand	Nem értem
Do you understand ?	Érti ?
I’m (awfully) sorry	(Rettenetesen) sajnálom
I beg your pardon	Elnézést kérek
I can’t speak Hungarian	Nem beszélek magyarul
The bill please	Kérem a számlát
Good bye	Viszontlátásra
Yes / No	Igen / Nem
Airport	Repülőtér