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Boom for Market Research in Hungary
Marketing and opinion research is a fast growing industry in Hungary, and shows more dynamic growth than the economy itself. According to ESOMAR and PSMZ data, turnover in the sector reached roughly US$30 million last year, showing an annual growth rate of 20%.
The Hungarian Market Research Association (PSMZ) estimates that the sector now employs around 5,000 people of whom 4,000 are interviewers and 1,000 are researchers, data processors and support staff.
The dynamic growth of market research in the country is primarily attributed to the fact that many global blue chip companies now have their own Hungarian subsidiaries, so raising the profile and usage of market research.
Almost one-third of research is commissioned by manufacturing companies. Other key sectors which commission and use research in Hungary include broadcast media (12% of research turnover), wholesale and retail (12%), telecom and postal services (10%) as well as advertising agencies, financial services and utilities. Eighty-four percent of research in Hungary is commissioned by domestic clients and 16% by clients outside the country. 70% is for consumer and 30% for non-consumer research.
Thirty-five percent of research turnover in Hungary is generated by continuous research and 65% by ad hoc projects, of which 53% are quantitative and 12% are qualitative. Of the ad hoc quantitative projects, 54% of interviewing is done face to face, 5% by telephone, 1% by mail and online accounts for almost 1%.
The increased visibility of the contribution of research to business decisions has led to a stronger need for self-regulation and quality standards. All members of PMSZ, the Hungarian Market Research Association and the Hungarian Marketing Association, have undertaken to abide by the ICC/ESOMAR International Code of Marketing and Social Research Practice.
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