Hungary Information Technology Report - 2025

Abstract

The inflationary shock triggered by the Russia-Ukraine war in 2022 led to a period of volatile growth trends for Hungary's IT market in local currency and US dollar terms. The market is expected to stabilise further in 2025, reflecting economic conditions in Hungary, and then continue to grow in local currency and US dollar terms in each year of the forecast through to 2028. The medium-term core scenario is positive because of technology trends attracting investment, such as cloud migrations, AI and automation, but Hungary is made a less attractive destination for this geographically mobile investment because of domestic political and business environment risks.