Innovation & Technology

Hungary could be one of Europe’s 10 strongest digital economies

Hungary's overall digital development score is on par with the regional average.

The Digital Futures Index is an indicator of the competitiveness of the digital economy. Microsoft’s regional experts have reviewed the latest available statistics from the OECD, Eurostat, Euromonitor and the World Bank, as well as other surveys that are widely regarded as authoritative in the field. In total, 55 different parameters were fed into the Power BI data analytics application. 

The result is a visually clear and highly instructive interactive platform that highlights future opportunities and development paths. 

According to the Digital Futures Index, Hungary’s two key strengths are its large and already competitive digital sector and its advanced digital infrastructure, which is above the regional average. A key example of this is that the Hungarian ICT sector scores slightly higher in the Microsoft Digital Futures Index in terms of its contribution to GDP than Sweden, which is leading the way in digitalization.

A structured, weighted analysis of the data shows that if Hungary takes advantage of the size of its digital economy and the development of its infrastructure, it could be one of the 10 strongest digital economies in Europe by the end of the decade, as many economic policy programs have stated.

To achieve this, economic actors will need to invest more resources than at present in technology innovation and deployment, in particular in the transition to cloud computing, in training workforces, and in continuing the digitization of public services, which will stimulate change and strengthen the digital capabilities of the population. 

According to Gabriella Csanak, Marketing and Operations Director at Microsoft Hungary, a cultural shift is also needed to really benefit from operations and increase competitiveness. Hybrid work, for example, is now an expectation that requires not only technological proficiency but also effective teamwork, as well as managers who trust their staff and offer continuous training. This is what young talent is looking for today, she added. 

The main lesson of the index is that the speed of digital transformation is a key competitiveness driver. The question is no longer whether the economy is going digital, but at what speed. This process is accelerating across the entire Central and Eastern European region.

Show More

Related Articles

Back to top button