New Bank and Initiatives Announced

At the 32nd Tourism Gala opening the season in Budapest on Saturday, the Minister for National Economy announced that the tourism sector was characterized by great dynamism and strength in 2024 and that “top performances” were achieved. He emphasized that the sector had played a crucial role in the Hungarian economy and that the tourism sector had “boosted GDP like an engine.”

Márton Nagy said that expectations were exceeded last year with 18 million guests, 11 percent more than in 2023. In addition, more than 44 million overnight stays, 6 percent more than in the previous year, were spent in Hungarian accommodations. Accommodations recorded revenues of 1,050 billion forints (2.6 billion euros), an increase of 16 percent compared to the previous year, while catering revenues rose by 11.2 percent to 2,005 billion forints (4.9 billion euros).

Hungary also leads the EU in terms of the increase in the number of overnight stays,

the minister noted.

He also reported that in January this year, inbound tourism increased by 20 percent, with a 30 percent increase in the capital.

Márton Nagy. Photo: MTI/Kocsis Zoltán

Several measures will follow this year to further develop the sector, the minister announced. For instance,

a bank dedicated for the sector will be set up in the fall, which will accept loan applications via the Tourinform offices. The first credit programs will also be launched at this time.

He also mentioned that direct flights between the largest cities in the United States and Budapest are being negotiated. This is important for both economic relations and tourism, and visa regulations between the two countries are also to be loosened. In addition, the introduction of a promotion program for three- and four-star hotels is planned in Budapest.

Olivér Csendes, the managing director of Visit Hungary, reported that the most popular gastronomic attraction in 2024 was the Great Market Hall on Fővám Square in Budapest, while in nightlife the Gozsdu Courtyard was the most attractive.

This year, 14.2 percent GDP contribution, 1.3 million more guests than last year and 4.1 million more overnight stays are expected.

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Francois Berisot, the Managing Director of Liszt Ferenc International Airport, explained that 2024 was a special year in the history of Budapest Airport, which returned to state ownership. He announced that

all previous records in the history of Budapest Airport were broken last year;

17.6 million passengers and 48.8 percent more (nearly 300,000 tons) air cargo were handled at Liszt Ferenc International Airport in 2024, anticipating the robust passenger growth of the coming years and consolidating the airport’s role as a regional hub.

He mentioned that in 2024, 43 airlines flew to 141 destinations from Budapest. The most popular destinations were London, Istanbul, Milan and Paris. Chinese passenger traffic had almost tripled, the CEO reported. Annual passenger traffic from Budapest Airport, which is part of the Vinci Airports network, exceeded the pre-pandemic figure for the first time in 2024, he emphasized. In preparation for further growth, the owners and management have begun preparations for the construction of the third terminal, which will ensure high-quality passenger services in the long term, he added.

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