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BUSINESS SECTOR

Corporate landscape

Hungary’s R&D directions are aligned with global trends, while also leveraging local strengths and opportunities.

The automotive sector remains dominant, but pharmaceuticals, agriculture and the food industry also hold significant
shares. With HUF 560 billion (EUR 1.4 billion) in R&D expenditures, Budapest stands out compared to other regions.
In 2023, the capital accounted for 53% of state and higher education sector R&D expenditures and 66% of corporate R&D
expenditures. More than one­third (38%) of corporate R&D expenditures were concentrated at the top 10 companies, with
mainly engineering­related research and development activities.

DOMESTIC R&D EXPENDITURES
BY COUNTY

Budapest
HUF 644 billion
(EUR 1.6 million)

Total R&D expenditures

HUF 2 billion HUF 50 billion
(EUR 5 million) (EUR 140 million)
Source: HCSO, 2023
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