New hybrid components for e-MTB from DT Swiss

Known for their bicycle wheels and various other components, DT Swiss is now set to introduce a bran

more

Skoda partnership with the German Ice Hockey Federation

Each year, companies fight it out to have their name placed on the back of the German ice hockey tea

more

Allegro sees boost in sporting goods online category

In recent years, Allegro has gained a strong grip on the e-commerce market in Poland and they are no

more

5% growth in retail sales for Czech Republic

In February alone, retail sales improved by nearly one whole percentage point which is a 5% increase

more

E-MTB improvements for Austria

In 2016, we can now see that the e-bike market grew significantly in Austria with a huge contributio

more

"Business Partner search for the Sports industry in Central Europe"


You are here » Home Page » News » Huge Growth for Hong Kong-Hungary Trade


Huge Growth for Hong Kong-Hungary Trade

2016-11-09 source own
When it comes to growth, the Central and Eastern Europe (CEE) zone has enjoyed its fair share in recent years and this is set to continue thanks to growing trade between Hong Kong and Hungary. Over the past 12 months, trade has increased significantly and Hungary has seen the rewards as a result.

For Hong Kong, exports to Hungary grew by nearly 24% to a total sum of $860 million whilst imports increased by 20% to $126 million. With this in mind, total trade between the two countries is now close to breaking the $1 billion mark.

Within the CEE region, this new relationship has boosted Hungary’s position and led to a GDP increase of 3% last year. Compared to the average across the Eurozone, this is nearly double. Over the next twelve months, a growth figure of 2.1% is expected according to the four largest companies in Hungary - JLL, ABSL, Skanska, and Dentons. Thanks to this increased business, there was also a boost to commercial real estate within Hungary with total volume now at nearly €800 million. Considering there is €9 billion volume in the CEE region, Hungary’s portion accounts for around 9%.

Pawel Debowski, Chairman of Denton’s European Real Estate Group, has said of this relationship and subsequent growth “Central and Eastern Europe is now viewed as Europe's 'darling' by an increasing number of EU institutional investors, including a number of UK-based businesses. More recently, it has also started to attract significant interest in North America, South Africa and the Far East. It is an attractive and safe region which has seen sustained improvements to its business environment.”

Of course, this is fantastic news for Hungary but it is also yet another boost for the whole of the CEE region which has been named as one of the safest places for investment in recent times. In the top 25 ‘safest’ countries for investment, there were a number of countries from the CEE region including Hungary.

Click here to register to get CeSports latest Business Report on doing business in Central Europe & for an overview on the Sporting Goods market in Central Europe.


Featured Partners

Featured Partners

View more featured partners

more

Press Releases

View Our Press Releases

more

FAQ

View Our FAQ

more
Featured

Sports Business Partner Connections Central Europe

Head logo Rhinos logo order reports