5 Reasons to work in Hungary
Short answer: it is worth it!
1. Work & Living Standards
Hungary ranks above the average in work-life balance. According to the Economic Complexity Index, Hungary has a very high human development index and a skilled labour force, with the 13th lowest income inequality in the world.
Hungary’s economic success means the country can offer high employment standards, including good benefits, holiday pay, maternity pay and paid sick leave. The government increased the minimum wage and public sector salaries, decreased taxes on foodstuffs and services, cut the personal income tax from 16% to 15%, and instituted a uniform 9% business tax for small and medium-sized enterprises and large companies.
2. Cultural Life
The culture of Hungary varies across the country, starting from the capital city of Budapest split in two by Danube, to the Great Plains bordering Ukraine.
The best places to learn about Hungarian culture, art and history are exhibitions. The Hungarian National Gallery has the largest public collection of fine arts in Hungary but the Hungarian National Museum , the Museum of Fine Arts and the Museum of Ethnography a must to see, too.
Hungary is well-known and admired for its architecture and cultural heritage: expats living and working in Hungary can visit Roman ruins and more other historical architectures from the Baroque, Renaissance, Gothic and Art Nouveau periods.
Festivals are also essential part of Hungarian cultural life. Sziget Festival is one of the most popular music festivals in Europe, which is held in Budapest. Otherwise, national and international artists are often invited for other gigs all over the country.
3. Economic System
Hungary is considered one of the best developed countries in the financial sector and currently ranks as one of the primary regional economies in the EU. Hungary’s technology sector is evolving rapidly, creating a variety of jobs in engineering, and Budapest is one of the top 100 performing cities in the world regarding its GDP.
Since joining the EU in 2004, a wealth of international companies have invested in branch offices in Hungary, as business leaders recognise the value of Hungary’s place in the global market. The capital is attracted by skilled and relatively inexpensive labour, tax incentives, modern infrastructure and a good telecommunications system. Hungary’s strategic position in Europe and its relative lack of natural resources have also dictated a traditional reliance on foreign trade.
4. Cost of Living
Hungary is not super cheap in every way, but relative to other central European region it provides a better value for money and ensuring the possibility of living a comfortable life whilst saving money. These conditions are the most compelling reasons to work in Hungary. And the prices are only going lower and lower when you get out of the capital and live in a smaller city or town.
Hungarian residents housing costs are in the hundreds, not thousands, and you hardly find people paying more than 600 euros a month, even in the capital. When you get into smaller towns, you can get a large house for that amount.
If you consider to buy property in Hungary, which you can do freely as a foreigner, a typical apartment in Budapest will cost between 1500 euros and 3000 euros for 1 square meters. Prices have definitely gone up in the past few years but are still competitive in comparison to many other parts of Western Europe, roughly half the cost of the neighbor Vienna.
The cost of your living in Budapest depends a lot on how much you eat out and where. When you shop your meal in the market, prices are at the low end in Europe. In many countries, expats complain about the difficulty of getting decent wine for a decent price, so if that’s a big priority, you can count on Hungary.
Getting around Hungary is relatively cheap by bus or train when you want to get out of town. Figure on 25 euros to go as far as you can possibly go within Hungary. Seniors and young children travel free. Rental cars are quite expensive though, so save that for the road trips that are worth it.
5. Employment Rate
Larger cities such as Budapest, Miskolc and Debrecen offer quality employment opportunities. As the unemployment rate currently standing at 3.9%, the employment rose to an all-time high, making a wealth of job opportunities one of the many reasons to work in Hungary. Foreigners seeking jobs in Hungary will find a booming economy and rising wages.
What jobs are in shortage of professionals in Hungary?
The biggest shortage are manual workers, such as machine cutter, welder, electrician, bricklayer, carpenter and painter. If we take a look at the capital carpenter and tiler are the most wanted.
At first glance these professions are best fitted by males but there are several
feminine jobs at the market as well. These include baby sitters, and physiotherapist.
But there are less gender-related professions, such as cook, social care and nursing.
If you are considering white collar jobs, there is always a shortage at the IT sector, especially of programmers, developers and web designers.
5+1. Visa & Residency
Hungary is part of the Schengen Agreement which means you can’t just move to Budapest and stick around here on a tourist visa. You have three months to stay upon entering the zone, but after that you have to leave the whole Schengen area for three months before returning again.
If you want to settle down in Hungary, submitting an application for residence permit for the purpose of employment can be one of the best way to get a residency.
