Foreign Workers’ Income In Hungary At Record HUF 278 Billion

  • 15 Oct 2019 8:05 AM
  • Budapest Business Journal
Foreign Workers’ Income In Hungary At Record HUF 278 Billion
The income of foreign workers in Hungary grew 30% to a record HUF 278 billion last year, index.hu says.

The previous highest amount was HUF 240 bln recorded in 2008, before the economic crisis. The rate stood at around HUF 160 bln for several years and started to increase again after 2015. The rise is driven mostly by the intensified labor shortage, as well as growing wages.

Part of the HUF 278 bln is usually transferred back home by foreigners, but majority is spent in Hungary on living costs.

Despite the specific request of MPs, the government have declined to reveal exact figures on the number of foreign workers in Hungary, index.hu says.

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Hungary's largest and oldest source of business and financial news in English. Since 1992 it has presented essential information on Hungarian business life, including international analyses about the country. These days the BBJ newspaper is published every other week, while it releases daily business news online including premium paid content.

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