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EMO Hannover Blog

EMO World Tour: Hungarian industrial associations indicate great interest

July 2017
04
Author: Alexander Schneiders (Presse und Öffentlichkeitsarbeit)
Company: Verein Deutscher Werkzeugmaschinenfabriken e.V.
EMO World Tour: Hungarian industrial associations indicate great interest

At the last European stop of the EMO World Tour 2017 in Budapest, a number of industrial associations showed a strong interest. Representatives of the Hungarian Engineering Association and the Automotive Supplier Association informed themselves about the current trends in metal processing and the schedule of the EMO Hannover 2017.

The Hungarian economy is growing faster than the EU as a whole. The driving force is private consumption. The favorable situation on the labor market, good wage developments, the rise of the minimum wage and the reduction of income tax contribute to the positive development. With the new EU funding period, Investments will also increase in 2017 after their sharp decline in the last year. The government also announces the reduction of corporation tax, which will make the Hungarian location more competitive internationally. Together with the increasing investment in customer industries, these aspects lead to a positive development of Hungarian machine tool consumption, which is expected to grow by 4.5 percent in 2017.

 

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