Doing Business in Hungary (and CEE) for E-commerce industry

July 3, 2020 Hungary

Hungary is a country located in Central Europe and member of the European Union as well as the Schengen Area. Today, Hungary is an upper-middle income country with a very high Human Development Index, which looks at life expectancy, education and the standard of living. The economy is largely driven by exports, making it vulnerable to external market shocks.

The E-commerce market in Hungary

E-commerce is on the rise in Hungary, with significantly growing numbers of customers shopping online. According to official data, Hungary has about 7.64 mln internet users, who account for 79 % of the total population. Just as in previous years, the online retail trade volume of Hungary increased considerably. Drivers of e-commerce growth in Hungary can be divided into two groups: direct and indirect drivers. The development level of the digital economy, especially internet and device use, is the key direct driver, while net monthly earnings, inflation and household consumption have an indirect influence on e-commerce development.

Based on data from a study conducted by Statista, the Hungarian B2C market accounted for EUR 6.2 bln in 2019. Median age of people who made a purchase is 43.3 years. Research showed that the ecommerce industry in Hungary reached EUR 1.85 bln in 2019 and that it reached 16% growth y-o-y, and stand for 5% of total B2C retail spend in Hungary.
To learn more, please download our Doing Business in Hungary: e-commerce edition.

If you require any further information, please feel free to contact our team:

Dan Ledvinka
Group Bussiness Development Director
E: dledvinka@asbgroup.eu
M: +420 724 377 998

Attila Szedmák
Managing Director, ASB Hungary
E: aszedmak@asbgroup.eu
M: +36 30 1754383