Rethinking Hungary in view of the crisis
6th Tuesday, October 2009
A panel discussion at 4.30 PM on Tuesday was held at the Budapest Business Region stand with press and BBR representatives.
Participants were: Péter Takács, Sales Manager of TóPARK, Michael Smithing, Managing Director of Colliers International Budapest, Bálint Németh, Managing Director of AERA property marketing, cluster management company and communication agency of the Budapest Business Regio, Noah Steinberg, CEO of WING. The panel discussion was hosted by Nándor Mester, Senior Editor, Property Expert, Business Daily Világgazdaság.
“The crisis is an opportunity to exercise positive effects on the image of Budapest and to re-consider the strategy. Re-consideration is going to be succesful if we can step beyond the present frameworks. This attitude can serve as a basis for a reconsideration of Hungary; this reconsideration must be based on our innovation skills", said Péter Takács, Sales Manager of TóPARK. Noah Steinberg, CEO of WING said that currently Budapest is perceived in a more negative way than the actual situation of the country justifies. It is possible that at the moment better deals can be struck in other similar cities of Central Europe, yet basically Hungary’s economy is more stable than that of London or Madrid.
Referring to the famous nine-euro campaign, Michael Smithing, Managing Director of Colliers International Budapest pointed out: in fact, it was a one-time campaign whose reason was to make it clear as day that the success of a project depends not on the pricing but on the location. As the main actors of Hungary’s real estate market actors see, current economic climate is favourable for complex and well-devised investments. This is corroborated by the Budapest Business Region cluster, established with the purpose of enhancing the international attractive force of Budapest; at the same time, the collaboration of otherwise competing Hungarian real estate development actors may serve as an example on the international level as well.
A special feature of the Budapest Business Region is that – unlike other city and country exhibitors – actors who represent themselves here continue to cooperate even after the exhibition. “Budapest Business Region serves as an example for cluster-based cooperation; there are but few examples for such collaboration in other countries”, said Bálint Németh, Managing Director of AERA property marketing, cluster management company and communication agency of the Budapest Business Region.
