Companies in Hungary - statistics & facts
Hungarian companies recorded peaking revenues in 2022. However, the year saw a sudden drop in enterprise numbers, and 2023 brought only a slight improvement, with the number of businesses totaling 1.8 million. Company liquidations began to increase during the summer of 2022 and peaked in November of the same year. Possible reasons behind the rise in company closures include the energy crisis, high inflation rates, and low household consumption expenditure.
Despite peaking revenues, the number of Hungarian companies dropped in 2022, experiencing a slight recovery in 2023. Most companies were small enterprises with less than 10 employees, operating in the professional, scientific, and technical activities sector. In 2022, MOL Nyrt. And MVM Zrt. generated the highest revenues in the country, while 4ig and Wizz Air secured the largest investments.
Business demography
Most Hungarian companies were registered in the country’s capital, Budapest, in 2023, with their number reaching nearly 420,000. Pest and Szabolcs-Szatmár-Bereg counties followed with 242,000 and 113,000 enterprises, respectively. The majority of Hungarian businesses had one to nine employees, while over 1,000 large enterprises employed 250 or more individuals. When it comes to the sectoral distribution of companies, most businesses operated in the professional, scientific, and technical activities sector, counting 176,000 companies in 2022. During the same year, wholesale and retail trade was the second-largest sector based on the number of active enterprises, followed by construction.Hungary’s most influential companies
MOL Nyrt., the multinational oil and gas company headquartered in Budapest, recorded the highest revenue in 2022, at nearly 10 trillion forints. MVM Zrt., the state-owned energy company, ranked second with an annual revenue of 7.6 trillion forints. Considering domestically-owned businesses, MPF Holding had the highest estimated value in 2023, totaling over 408 billion forints. It was followed by Dolcer Holding and the Bonafarm Group, with estimated values of 361 and 320 billion forints. In terms of funding, 4iG, the IT service management enterprise, benefitted from the highest amount of investments in 2022, totaling approximately 890 million U.S. dollars. Wizz Air, the Hungarian low-cost airline, secured 518 million U.S. dollars of funding in the same year, placing it second in the ranking.Despite peaking revenues, the number of Hungarian companies dropped in 2022, experiencing a slight recovery in 2023. Most companies were small enterprises with less than 10 employees, operating in the professional, scientific, and technical activities sector. In 2022, MOL Nyrt. And MVM Zrt. generated the highest revenues in the country, while 4ig and Wizz Air secured the largest investments.
