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Hungary |
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| Membership in EU: | 2004 |
| Political system: | Republic |
| Capital city: | Budapest |
| Total area: | 93 000 km² |
| Currency: | Hungarian forint (HUF) |
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Statistical Office
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Chamber of Commerce and Industry
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Entrepreneurship in the Country
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Business Directories
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Local Communities
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Business Communication
Although Hungarians are transactional and do not require long-standing personal relationships in order to conduct business, being introduced by someone they know and trust, can often help
Hungarians pride themselves on using proper etiquette in all situations and expect others to do the same.
Socializing is an important part of the relationship building process.
Expect many invitations to dinner or cultural events. If you have the time, reciprocate invitations.
Hungarians prefer face-to-face meetings, rather than more impersonal vehicles of business communication, such as letters.
Hungarians are emotive speakers, who say what they think and expect you to do the same.
They do not like euphemisms or vague statements.
Hungarians often use stories, anecdotes, and jokes to prove their points.
Hungarians are suspicious of people, who are reticent and not willing to share their innermost thoughts.
Hungarians view eye contact as indicative of sincerity and believe that people, who cannot look them in the eye while speaking, have something to hide.
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Business Meetings
Appointments are necessary and should be made 2 weeks in advance in writing.
It is often difficult to schedule meetings on Friday afternoon or from mid July to mid August. Also avoid scheduling meetings from mid December to mid January.
Punctuality for all social situations is taken extremely seriously. If you expect to be delayed, telephone immediately and offer an explanation. It is considered extremely rude, to cancel a meeting at the last minute and could ruin your business relationship.
Initial meetings are scheduled to get to know each other and for your Hungarian colleagues to determine, if you are trustworthy.
Expect some small talk and getting-to-know-you conversation before business is discussed. Do not move the conversation to business yourself.
Do not remove your suit jacket without asking permission.
If you have an agenda, it may be used as a springboard to further discussion and not followed item by item.
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Business Negotiation
Business is conducted slowly.
Deals in Hungary cannot be finalized without a lot of eating, drinking and entertaining.
Hungarians are very detail-oriented and want to understand everything, before reaching an agreement.
Contracts should be clear and concise.
Contracts function as statements of intent. It is expected, that if circumstances change, the contract will accommodate the revised conditions.
Hungarians are skilled negotiators.
Avoid confrontational behaviour or high-pressure sales tactics.
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President
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Government
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Prime Minister
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Ministries
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Constitutional Court
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Legislation
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Geographical Characteristics
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Hungary is a continental state with many neighbors - Slovakia, Ukraine, Romania, Serbia, Croatia, Slovenia and Austria. The country is mostly flat, with some mountains in the north. Lake Balaton, a popular tourist centre, is the largest lake in central Europe.
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Languages
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Hungarian, in minority groups: German, Croatian, Romani, Slovak, Romanian, Serbian and Slovene.
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Short History
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Old Hungarian tribes moved into the Carpathian Basin in 896, after they had defeated the tribe that lived there. Hungary became a Christian kingdom under St. Stephen I. in the year 1000.
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Time Zone
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International Dialing Code
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Average Temperatures
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July 21 0C, January -1 0C.
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Opening Hours of Banks
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Monday - Thursday: 8.00am – 3.00/4.00pm.
Friday: 8.00am – 1.00/2.00pm.
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Opening Hours of Post-Offices
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Monday - Friday: 8.00am – 6.00pm.
Saturday: 8.00am – 1.00pm.
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Opening Hours of Shops
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Legally permitted opening hours:
Monday - Friday: 10.00am – 6.00pm.
Saturday: 9.00am – 1.00pm.
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Credit Cards
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The following credit cards are accepted in Hungary: Visa, MasterCard–EuroCard, American-Express, Diners Club, EnRoute. They are accepted in numerous hotels, restaurants and shops. Almost all petrol stations will accept credit cards.
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Foreign Currency Exchange
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Apart from the banks, foreign currency can be also exchanged in exchange offices, hotel receptions, tourist agencies, petrol stations and larger department stores.
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Mobile Telecommunications
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The country is almost entirely covered by mobile telephony signal, since the operators have concluded contracts with larger European and world operators. Mobile phones in the country are designed to function within the network of frequency bands 900 MHZ and 1800 MHZ. You can host in the following mobile networks: Pannon, T-mobile, Vodafone.
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Anti Smoking Law
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The legislation in Hungary is very restrictive, since smoking is banned in all public institutions, opened to public, and at work. There are no special smoking areas, which prevents smoke from passing into other places.
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Emergency Telephone Numbers
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Population of the State
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Population of the Capital
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Demographics
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Religion
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