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Europa

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What is GNSS Global Navigation Technology? Global Navigation Satellite System is Europe’s answer to GPS.  It’s a navigation system that aims to be more precise and accurate than America’s GPS Navigation System. Europe’s GNSS Outlook Discussion: A powerful global navigation system using & rivaling America’s GPS Satellites currently being launched Offers supreme accuracy to the … Lees meer

SIS International Expands London EMEA office and Market Research Fieldwork Facilities

SIS International Expands London EMEA office and Fieldwork Facilities February 9, 2017—-SIS International Market Research announced the expansion and relocation of its London office to the Southwark area of London.  Previously located in the Strand, SIS EMEA has relocated its offices to expand its team and Fieldwork capabilities. Located in London’s Southwark borough, the new … Lees meer

The European Market

Europe is the largest economic area in the world. Learn more about Market Research in Europe.

Hungary in Troubled Economic Times

Bloomberg indicates troubled times in Hungary due to

  • the global economic recession and the lack of reform from communism over the past two decades.
  • Hungary’s main trading partner is the European Union which is in recession. 
  • Veritas has cut shops
  • Audi has closed its plant
  • Rising unemployment, with predicitions of a rise to 8-10% unemployment
  • Violent protests due to an unpopular president
  • Bloomberg has indicated that analysts put the economic decline at about 2% next year. 
  • the IMF helped thwart a major default by the country by bailing the country out 
  • inflexible labor market and tax structure
  • Opportunities may arise for Hungary to attract businesses seeking to lower costs.

Action taken

  • $6.5 billion stimulus targeting small and medium businesses

Opportunities

  • attracting foreign businesses and investment by improving its tax structure, labor market and incentives

Hungary’s Economic Woes

According to Al Jazeera, Hungary was once the 10th most dynamic economies in the world.  Yet, many multinationals that sought this growth have divested and gone elsewhere, to Bulgaria, Slovakia and Romania.  Now the country may become divided on why the economic crisis has turned so sour.

The heating and plumbing business mentioned in the video blamed the left-wing government for its policies.  Another family business which imported soya beans from Latin America is struggling from the Credit Crunch and a lack of liquidity to finance operations.  It made it difficult to pay for the cargo.

The IMF bailed out hungary to prevent economic destablization in the region. More instability may arise due to the social services being cut in order to service debt and lack of liquidity.