Budapest named most affordable city to run a business in the world
pixabay
Budapest is the most affordable city in the world to run a business from, thanks to factors such as a low corporate tax rate and cheap monthly internet costs, according to research by U.K. energy broker company Utility Bidder.
Image by Pixabay
Utility Bidder compared 70 cities around the globe, looking to find the most affordable one based on a variety of criteria including average salary, average office cost per square ft, electricity price per kWh, monthly internet cost, and corporate tax rate.
Budapest received an overall score of 90.72 out of 100, clinching the top spot ahead of Prague (83.91), Warsaw (82.20), and Bratislava (78.13) meaning that the top four spots are occupied by Visegrád Four capitals.
The Hungarian capital had the lowest corporate tax rate (9%) out of all the cities on the list. In terms of internet costs, Budapest (EUR 13.58/month) finished second only behind Warsaw (EUR 12.79/month). The city also had the second-lowest average yearly salary (EUR 17,316/year), behind Mexico City (EUR 14,466).
According to the ranking, the three most expensive places to set up a business are San Francisco, New York City, and Tokyo. Overall, six out of the bottom 10 locations are in the United States.
Hungary CPI Drop Acknowledged at IMF/World Bank Spring Meeti...
Hungary to Address Future of Cohesion Policy During EU Presi...
AI may Save Hungarian Healthcare, Says Leading Doctor
Time Out Market to Open in Budapest Next Year
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
