The Budapest International Business Center Association was established in 2002 by Hungarian and Foreign business leaders in order to foster the position of Budapest as a business center in Central and South-East Europe.
International companies often concentrate some of their corporate service activities in regional centers (Corporate HQ, IT services, Logistics, Corporate Finance, Customer Service Center etc.) according to their organizational structure. The selection of such macro-regional center depends on various factors (quality of life, regional vs. local business volume, market regulations, legal environment, business climate, business culture etc.) and the changes in business strategy of the companies often result in establishing such center, to dissolve it, or renew it according to their needs.
We perceived that Budapest has a great potential to be the financial and business center of Central and South-Eastern Europe.
According to a survey carried out in 2001 (with the support of the Ministry of Economy and the AMCHAM in Hungary) among foreign businesses in Hungary, 69% of the companies had one or the other type of regional center (Chart 1), and 44% of them had already in Budapest (Chart 2) or in other parts of the country. Budapest was followed by Vienna with 24%-al (see 2001 Conference Final Report page 4).
Those companies having regional center have the type of the centers as follows: 76% regional headquarters, 64 % IT services, 52 % HR, 48% R&D, 44% Accounting. (Chart 3)
Most of the executives surveyed agree that Budapest has a great potential to be the host of regional corporate centers, especially given the high forecasted economic growth of the region.
The main issues which we will address concerning Budapest’s and Hungary’s current and potential future position include identifying competitive edges, key competencies of the economic environment, importance of the pool of highly qualified workforce, cost of labor, quality of life, and regulatory environment.
If you agree with our mission come and join us!
See the Members section, fill out the Entry Form and send back to us.
István Szabadföldi Rudolf Riedl
President Vice President