Business trip to Budapest, Hungary.
Hungary has recently transformed from a centrally planned economy to a market economy and has maintained a strong economic growth. Hungary entered joined the European Union in 2004.
Budapest is not only the political center but is also the economic and commercial hub of the Hungary with most of the business activities of Hungary centered in the Budapest. Budapest promotes trading opportunities of Hungary by being host to many international trade fairs & expos like IFE Hungary & Agro+Mashexpo and BNV-Budapest International Fair.
Although, Hungary has always been an agricultural country, following WW II Hungary became heavily industrialized with most of its industries based in Budapest. The private sector on the other hand accounts for more than 80 percent of GDP.
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Foreign investment in Hungarian business has also been widespread getting 30% of all foreign direct investment flowing in to Central Europe.
Inflation and unemployment remain the major problems of Hungary but economic reform measures such as health care reform, local government financing and tax reform are being addressed by the present government to these problems.
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.
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.
Some facts in a list:| Currency | Forint (HUF)(1 EUR= 238,82 HUF) |
| Time zone | GMT +1 |
| Population | 10.034.000 |
| Area | 93.030 km2 |
| Population density | 109 / km2 |
| GDP | € 122.050.430.000 |
| GDP/per capita | € 12.138 |
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In Hungarian this airport is called Ferihegy Nemzetközi Repülőtér, but is usually shortened to Ferihegy or just Budapest Airport. Since Hungary joined the EU in 2004, the number of passengers has greatly risen. In 2005 the airport processed more than eight million passengers. The airport was recently privatized in which British BAA acquired a majority interest.
Address
Budapest Ferihegy Airport
H 1675
Budapest Pf 53
Telephone: +36(0)1 296 7000
Fax: +36(0)1 296 6000
www.bud.hu
Airport codes
IATA airport code: BUD
ICAO airport code: LHBP
Lost property
Loss of baggage must be reported to the lost and found customer service immediately upon arrival, at baggage reclaim in the arrivals transit area. Records are taken and, upon request, baggage found or arriving late is sent to the address specified by the passenger. Lost baggage must also be reported to the customer service of your airline.
Tel.: (Terminal 1): +36 (1) 296-5449, +36 (1) 296-5278(tel+fax)
Tel.: (Terminal 2): +36 (1) 296-5966, +36 (1) 296-5965 (tel+fax)
Terminal info
Connectivity from the airport
Train
There is no rail connection with the airport. There are plans to build a rail line or make a connection with the Budapest metro line, these plans will probably not be realized earlier than 2010.
Bus
Bus line 200 leaves frequently to the subway and train station Köbánya-Kispest, this bus has sufficient space for baggage. Bus line 93 leaves from Terminal 1 every half hour to that same station. The rate for both bus lines is HUF 185.
The Hungarian budget company Wizz Air maintains a shuttle bus connection from Terminal 1 to Budapest.
Taxi
Taxis can be found in front of the Arrivals Halls of Terminals 2A and 2B. Not all the taxis have a meter so you must make a clear arrangement about the price, a ride to the center of Budapest costs approximately HUF 5,500.
There is a counter for the Airport Minibus in the Arrivals Hall (tel: +36(0)1 296 8555), this minibus transports passengers for a fixed rate of HUF 2,300 to each address in Budapest but there must be a sufficient number of passengers going in the same direction.
Keep the following tips in mind if you need to order a taxi during your business trip to Budapest. Taxis in Budapest are compulsory to use yellow registration plates and taximeter, and they also give you a receipt. There are several reliable taxi companies in Budapest. Avoid private taxis not using yellow plates, try ordering a major taxi company. A taxi ordered by phone is about 15% cheaper than taxis called directly on the street.
The total price is made up of 3 different parts: the basic charge (300-400 HUF), a per kilometer charge (240-340 HUF per kilometer), and the waiting charge. Taxis from Ferihegy Airport using fix fares according to 4 geographical zones in Budapest (3000-4300 HUF). The journeys will also be metered, and if the meter shows a lower fare, then passengers will only pay the lower fare.
Reliable taxi companies in Budapest:
| Company name | Phone number |
| Budataxi | 233-3333 |
| Budapest Taxi | 433-3333 |
| Citytaxi | 211-1111 |
| Főtaxi | 222-2222 |
| Taxi 2000 | 200-0000 |
Robinson Restaurant
Situated on an island on the edge of City Park, Robinson Restaurant hass an exotic location, a welcome escape from the buzz of nearby Andrássy Street. The restaurant is spacious, with a lakeside patio and a rooftop terrace that are very popular in summer and there are plenty more seats in the downstairs dining room; the huge windows boast views of Vajdahunyad Castle in the distance.
XIV Városligeti tó 1146 (City Park Lake)
Tel: +36 (1) 422 0222.
www.robinsonrestaurant.hu
Goa Café Restaurant
Goa has been a perennial favorite with Budapest’s trendy crowd for years. Its international menu, which swings from Argentinean steak to Thai green curry,fails to include anything Hungarian, but nobody seems to mind. The décor is suitably un-Hungarian to match, featuring serene water installations, Buddha statues,and tropical plants. Goa is an unusual choice for dining during a business trip, but it is lots of fun! Evening reservations are essential.
Andrássy út 8. Nyitva, H-1061 Budapest
Tel: +36 1 302 2570
www.goaworld.hu
Gundel restaurant
This has long been regarded as one of the city’s fanciest restaurants, and it is certainly one of its most famous. Gundel has been serving traditional dishes here since 1894, and some have become city institutions, including the Gundel pancake and goose liver speciality. The wine list is extensive and the art nouveau interior is a feast for the eyes too. If you are on a business trip to Budapest, this is a great restaurant for entertaining your hosts.
XIV Allatkerti utca 2, Budapest
Tel: +36 1 468 4040
www.gundel.hu
Tips to save money on hotel costs during your business trip to Budapest.
To get the best price for a good hotel room during your business trip to Budapest it's not only important to compare the prices the hotel charges for a room, but also compare the prices of the different booking agencies.
This can save you, or your company, a lot of money!
- Go to this hotel listing for Budapest.
- Select the "Check-in" and "Check-out" date.
- Select filters like: "Hotel brand", "Ratings", "Location" and "Price ranges".
- Select the hotel you like.
- You will get an overview of the prices from up to 24 booking sites
- Select the best offer in the list and book the room!
We have selected the following established business hotels for your convenience:
Four Seasons Gresham Palace
The renaissance of an Art Nouveau landmark, exquisitely transformed with ultra-modern comforts, Four Seasons combines luxury and intuitive service with panoramic vistas of the Danube and the hills of Buda.
Roosvelt Ter 5-6
1051 Budapest, Hungary
Tel:36 (1) 268-6000
Fax: 36 (1) 268-5000
More info about Four Seasons Gresham Palace Budapest
Hilton Budapest
Located in the heart of the historic Castle District, and next to the Matthias Church and the Fisherman’s Bastion, the Hilton Budapest successfully incorporates a contemporary structure with 13th-century remains. Hilton Budapest is the perfect base for business travelers. The 322 rooms and suites (some non-smoking) have all mod-cons.
I Hess Andras tér 1-3, H-1014 Budapest, Hungary
Tel: 36-1-889-6600
Fax: 36-1-889-6644
More info about Hilton Hotel Budapest
Art’otel Budapest
Budapest’s first boutique hotel, the stylish art’otel, situated on the Buda side of the Danube, affords splendid views of the river and the parliament. The hotel, an interesting combination of old and new (think baroque townhouses meet contemporary architecture), was designed by Donald Sultan, the American artist, whose paintings and sculptures are on display throughout the building, decorating both the light, spacious public places, and the 164 well-appointed bedrooms.
Bem Rakpart 16-19
Budapest, h-1011
Tel: +36-1-487 9487
More info about Art’otel Budapest
Pest’s chic Váci utca tempt everyone with familiar high-street and designer names but bargain buys and are to be found at Nagy Vásárcsarnok (Great Market Hall), IX Fovám tér, an imposing three-storey building that first opened in 1897 and now draws 30.000 shoppers daily. On the ground floor are strings of paprika-like red coral necklaces, pots of pickles, goose liver and salami.
Budapest’s BÁV stores, the main branch of which is found at V Bécsi utca 1, are state-run pawn shops selling everything from junk to gems. Porcelain lovers should hunt down Zsolany, V Kigyó utca 4, or Herend, I Szentháromság utca 5 - both produce some of the finest pieces in Europe.
Luxury Shops
Many luxury fashion brands have outlets in Budapest and number of designer boutiques is keep growing. Just take a walk along Váci utca and the neighbouring streets and you’ll bump into a couple of luxury shops, like Furla in Párizsi Street representing Italian haute couture or Manier at 68., Váci utca.
The Boscolo Hotel in the New York Palace also has some luxury brand shops.
Andrássy Avenue is another great place for a luxury shopping spree. The famous Párisi Department Store (commonly known as Divatcsarnok) and an architectural gem of the avenue will be refurbished and house high-end reails shops.
Streets around the Opera House are also good hunting spots for exclusive shops in Budapest. Blanco for example in Lázár utca sells Italian designer shoes, handbags, and custom jewelry. And there’s the Alberto Guardini shoe shop at 34., Andrássy út. Louis Vuitton also has an outlet on Andrássy Avenue.
That Budapest, one of the most beautiful cities in the world, has developed where it is, is not down to some historical accident. Take a look from Gellért Hill, right next to the River Danube as it flows through the centre of Budapest. It was precisely the combination of the ease of crossing the River here and the natural protection the hill offered against invasion that decided the earliest settlers it was the ideal place to build a town.
There is so much to see and do in Budapest, we only mention a few of the highlights below.
Castle Hill is a 1,5km long hill, overlooking the Danube, located in Budapest’s No1 District. The Old Town occupies the larger part of Castle Hill – it is also referred to as the Buda Castle; the Royal Palace occupies the southern portion.Because of its medieval origins, 17th and 18th centuries monuments, and its historical significance, the Old Town is Budapest’s primary tourist attraction. It has been on UNESCO’S World Heritage List since 1987. If you have only a short time for sightseeing during your business trip to Budapest, this would be the place to visit.
The Buda Royal Palace (Budavári palota)
The history of the building of the former Royal Palace, on the southern end of Castle Hill, can be traced back to as early as the 13th century. The construction of this Gothic style Royal Palace was completed in 1424, during the reign of King Zsigmond. Under the rule of King Mátyás I, the Palace was modified in the Renaissance style. The Palace grounds are now often used to stage cultural programs and festivals.Currently the Palace houses the Hungarian National Gallery (Magyar Nemzeti Galéria), the Budapest History Museum (Budapesti Rörténeti Muzeum) and the Széchenyi National Library (Országos Széchenyi Könyvtár).
The Széchenyi Baths (Széchenyi Gyógyfürdő)
It was as a result of the drilling’s of geologist Vilmos Zsigmondy, over the period 1868 - 1877, that this medicinal water source, with a temperature of 74˚C, was brought to the surface. If you have enough time for sightseeing during your business trip to Budapest, I would recommended you to visit it.The medicinal baths section was built at the beginning of the 20th century, in the Neo-Baroque style. The medicinal waters are very effective for the treatment of joint and muscle damage, arthritis and neuritis.
Open: 6-19
Water temperatures: 20-38°C
Pools: 15 pools: 3 swimming pools, 12 thermal pools
Water mineral content: thermal water containing nitrates, calcium-magnesium-hydrogen-carbonates and sulphate-chlorides, as well as fluoride ions and metaboric acid in significant quantities.
Therapeutic proposals: degenerative illnesses of joints, chronic and semi-acute arthritis, orthopedic and post-injury alterior treatments.
Price: 2.400 - 2.800 HUF; Refund for leaving within 2 hours 400 HUF; Refund for 2 to 3 hours 200 HUF
Service prices: Refreshing massage (15 Min.): 2.500 HUF; Refreshing massage (30 Min.): 3.500 HUF; Healing massage (15 Min.): 2.600 HUF; Powder massage (30 Min.): 3.800 HUF
The Fishermen’s Bastion (Halászbástya)
The Neo-Romanesque Fishermen’s Bastion, located behind the Mátyás Church, was erected between 1895 and 1902, on a site where previously the medieval castle walls had stood.The structure, which is a prominent landmark in Budapest, was designed by Frigyes Schulek. During the Middle-Ages the fish-market was located next to the church, and the Fishermen’s Guild was responsible for defending the adjacent section of the fortification – hence the name for the new structure.However, at the time of its construction, the Fishermen’s Bastion no longer had a defensive function.The structure terminates at each end in a bastion. In all, it has seven turrets – representing the seven leaders of the Hungarian Conquest. The most distinctive is the richly decorated northern tower. Decorated flights of stairs lead up from the Viziváros district to the Bastion. From the turrets, terraces and walkways, a wonderful view can be enjoyed of the Danube, Pest and the Margaret Island.
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.
| General emergency number | 112 |
| Police | 107 |
| Ambulance | 104 |
| Fire | 105 |
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
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 |
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