Confidence among young Hungarian adults grows

October 29, 2013

Unemployed youth

Confidence among 19-29 year olds improved the third quarter of this year over the previous quarter even though the ability of this age group to support itself financially continues to deteriorate according to a report released by the K&H Bank.

According to the report less than one half of 19-29 year olds have moved away from their parents and only 19 per cent have their own place to live.   Although just one-third say they are satisfied with their current living conditions, only 13 per cent plan to purchase a flat within the next three years.  Only 4 per cent believe the government will do everything in its power to help them start out on their own.

While just 10 per cent of the 19-29 year olds surveyed were satisfied with their material conditions, 63 per cent expected their situation to improve over the next few years.

According to figures released yesterday by economic research group GfK, Hungarian per capita GDP is presently EUR 5,009 (USD 6,500), or roughly one-fourth that of Germany and two-thirds that of neighboring Slovenia (EUR 7,473).   Hungary’s per capita purchasing power is 38.9 per cent of the European average, putting it slightly behind Croatia (EUR 5,208) but well ahead of Romania (EUR 3,491).

Referenced in this article:

Kutatás: nehéznek érzik az életkezdést a fiatalok, vg.hu, 29 October 2013

Kiderült, hogy mennyire szegények a magyarok – Európai lista, vg.hu October 2013