Tag Archives: Study in Hungary

Hungary is located in Central Europe and is a landlocked country with the capital Budapest. The country is about twice the size of Switzerland. It lies in a low plain and is mostly flat. The Danube divides the country into two halves: the west is hilly and wooded, in the east an almost treeless landscape stretches out – the Puszta. The Balaton in the southwest and the natural paradise of Lake Tisza in the northeast are popular tourist destinations. Hungary has a predominantly continental climate with warm summers and cold winters. The national language is Hungarian. According to COUNTRYAAH, Hungary is a nation in Eastern Europe, the capital city of which is Budapest. The latest population of Hungary is 9,660,362. MYSTERYAROUND: Lists and descriptions of main religions and beliefs in Hungary, including religion demographics and statistics on Christianity, Islam, Judaism, etc.

With the exception of Finnish, it differs from other European languages. A small group of the population states that German is their mother tongue. The Magyars (Hungarians) are the largest group of people who shape Hungarian culture. 13 recognized minorities, including Hungarian Germans, Slovaks and Croats, live in Hungary. The Roma, the largest minority, often live on the margins of society.

The Kingdom of Hungary was part of the Austro-Hungarian Dual Monarchy from 1867 to 1918 and lost two thirds of its territory and over half of its population in 1918. In 1949 Hungary became a communist “People’s Republic”. Before the fall of the Berlin Wall in 1989, GDR citizens managed to escape across the Hungarian-Austrian border. In October 1989 the parliament changed the state name to “Republic of Hungary”.

Hungary has successfully made the transition from a planned economy to a market economy. It is an attractive location for service centers of foreign companies. The strong industrial sector with automotive, chemical and electrical industries is export-oriented. The most important foreign trade partner is Germany. The country has been a member of the European Union since 2004. Hungary belongs to the Schengen area, but not to the euro states. The national currency is the forint.
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The country’s industrialization began at the end of the 19th century, with Budapest as the most important industrial center. After the Second World War, during the socialist period, Hungary developed into an industrial state with simultaneously important agriculture. After the land reform (1945) and the nationalization of the coal and steel industry (1946), a centrally controlled, planned economy of the Soviet type was implemented by the end of the 1940s – with a nationalized industrial, trade and financial sector and priority development in heavy industry. Budapest remained the most important industrial agglomeration, despite strong decentralization. Industrialization became the main factor in urbanization in rural Hungary. In the 1960s a slow liberalization of the economy and a softening of the rigid planning system began. This should encourage companies to take the initiative and take greater account of profitability and market conditions. In the early 1980s, an extremely lively, small-business private sector emerged. The relatively liberal economic policy was an essential basis for the good supply of the population with a comparatively rich supply of consumer goods for socialist economies. Nevertheless, the stagnation that had existed since the late 1970s expanded into a deep crisis in the 1980s, which was associated with high foreign debt. The reform policy continued with fundamental political and economic reforms in the second half of the 1980s. With a series of economic laws and finally with the new constitution of 1989 the system change towards parliamentary democracy and market economy was initiated; since 1990 the economy has been largely privatized. However, the transformation initially resulted in a general economic decline (decline in industrial production) and social polarization for the population. From the mid-1990s, the Hungarian economy recorded stable and sustained growth. Due to the rapid political and economic stabilization, Hungary became the preferred destination for foreign direct investments in Central and Eastern Europe (2014 total: US $ 108.1 billion). The steady economic growth since 1997 did not come to an end until the global financial crisis in 2008, but since 2013 the gross domestic product (GDP) has grown again (2015: by 2.9%). The government tried to counter the foreign debt, which had risen to 80.6% of GDP by 2011, through tax increases (e.g. increase in VAT to 27% in January 2012); the foreign debt at the end of 2015 was only 75.8%. That the foreign debt at the end of 2015 was only 75.8%. That the foreign debt at the end of 2015 was only 75.8%. That Gross national income (GNI) per resident was US $ 12,870 in 2017, the inflation rate –0.1% and the unemployment rate 10.9%. Hungary has been a member of the EU since May 1, 2004.