Information technology is an emerging industry in Hungary. Experts believe that the market is worth approximately USD $800,000, 50 % representing hardware, 25% software and 25% in IT services (30). However, in 1992 and 1993 many of the larger Hungarian Information technology companies went bankrupt, mainly because they were unable to manage the transition from the 1980s to the 1990s. The main mistakes they made were mostly bad financial decisions. They were unable to predict what the financial requirements were for a growing company (31).

The major market sectors for IT usage are: government, financial sector, telecommunications, education, and utilities (32).

Go forward to next topic (Government Policies)

Go back for previous topic (IT Geographics)

Return to main menu for Hungary