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A Snapshot of the Leading Hungarian Multinationals 2011

Sass, M. – Kovács, O. (2013): A Snapshot of the Leading Hungarian Multinationals 2011. Emerging Market Global Players project led by Columbia University, The Vale Columbia Center on Sustainable International Investment. (September 2013)

Our survey is part of a long-term study of the rapid global expansion of multinational enterprises (MNEs) from emerging markets. The results focus on Hungarian MNEs. The present survey covers the period 2009-2011 by highlighting that the TOP 20 MNEs ranked held more than US$ 18 billion in foreign assets in 2011. A decreasing trend can be observed in terms of aggregated foreign asset over the period 2009-2011. The 20 companies on the list have 137 affiliates in 31 countries, with a strong concentration in Europe, mainly in Central and Western Europe (110 affiliates). The companies analysed employed more than 36,000 workers abroad of which number has decreased by 20% since 2009. In 2011, Hungary was the 22nd outward investor in terms of foreign direct investment (FDI) stock among emerging markets and the 17th largest in terms of outward FDI flows, well below the BRIC countries, but a large investor among the new member states of the European Union.

The paper was also published as an ICEG European Center Research Report which is available here.