NelsonHall: Hungry for Hungary? Why the Country's Talent Feast is Attracting International Investement
A new article from NelsonHall’s Nikki Edwards highlights a recent customer and analyst event hosted by Cielo in Budapest, Hungary. Both the city and Cielo’s delivery center, which opened in 2015, are showcased, and Edwards explores why this European location is becoming a hot spot for talent acquisition vendors. Cielo’s presence has already grown, with the Budapest delivery center having opened in 2015 with just three employees, but having expanded to 63.
Excerpt from the article:
Cielo’s clients supported from its Budapest center come from the following sectors: engineering, technology, manufacturing, FMCG, pharma, medical devices, diagnostics, healthcare and insurance. Hungary itself has a strong presence in automotive engineering (with a $26.5 billion production value) with the likes of Audi, Mercedes Benz, Suzuki and Opel (and a further 39 of the top 100 automotive suppliers) operating from there, mainly based in western Hungary. The technology sector is strong, with 15 of the largest global technology companies (including IBM, Oracle and SAP) having a presence in Hungary, all having been there for over 10 years. The food industry is also a strong sector, with nine large companies investing in Hungary in 2016-17 (including Nestlé). This offers Cielo the opportunity to grow its client base in Hungary further, in industries with which it has a strong track record.
With the Hungarian government offering state aid (cash grants or tax allowances) mostly in either western or eastern Hungary in the areas of investment, training, R&D, and employment tax allowances, Hungary is likely to continue to attract international organizations to set up a presence there, giving Cielo further opportunity to grow.