The Economic Environment of the Media Market in Hungary 2024

In 2024, Hungary's economic landscape showed a mixture of challenges and recovery. The country’s GDP growth, initially projected at 4%, ended up at just 0.6%. This underperformance was offset by households’ consumption, which became the primary driver of economic activity.

Hungary faced significant economic fluctuations in recent years, mainly due to rising energy prices and supply chain issues. Inflation peaked at 17.13% in 2023, reflecting the ongoing pressures, but by the end of 2024, it had eased to 4.6%, suggesting a return to some degree of economic stability.

After a volatile period beginning in 2020, Hungary's advertising market showed signs of stabilization in 2023, with growth continuing into 2024. This growth, despite a stagnant economy, was remarkable. Key factors included media price increases and a return to growth above inflation (3.7%), providing optimism for the industry.

In summary, while Hungary faced economic challenges, particularly around inflation and GDP growth, there were signs of stabilization by the end of 2024, and the advertising sector notably benefitted from rising media prices and resilient consumption trends.be the main driving force.2. The political environment of the local media market