At a time when business confidence is increasing in the developed world, that of Hungary and other developing countries is declining according to Regus. Based on a survey of 20,000 businessmen in 95 countries, Regus reports that business confidence in developed countries increased five points to 109. In Hungary it has decreased three points to 81 over the past three years.
Those surveyed cited the cost-effectiveness of service providers and suppliers, improved labor efficiency, smaller offices, and effective advertising and market activities as important factors for success. According to Regus CEO Mark Dixon flexible work conditions significantly affect business results and support sustainable development.
The study reports a slow down in the rate of increase in revenues and profits over the past six months in Hungary.
The report comes in the wake of announcements by Hungarian telecommunications company Magyar Telekom that it plans to eliminate 250 jobs by the end of the year and German airline Lufthansa that it is moving its center for regional operations from Budapest to Vienna. Crises taxes levied by the current government on telecommunications companies and financial transactions may have influenced these decisions.
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