Hungary becomes the film capital of continental Europe

As Hollywood productions continue to stagnate in the wake of the 2023 actors and writers strikes, Hungary has emerged as an important destination for international filmmaking. Bolstered by attractive tax incentives, a skilled local workforce, and world-class production facilities, spending on the local industry continues to break records. 

A Magnet for International Productions

Hungary’s exponential growth in the film production sector has primed it as an attractive base for some of the world’s largest films. Blockbuster hits such as the Dune franchise, Netflix’s The Witcher, and Blade Runner 2049 are just a few examples of major IPs that have shirked Hollywood in favor of Budapest’s many benefits.

It should come as no surprise that Hungary is also now one of Europe’s highest-ranked tech hubs. It has the fastest download speeds in emerging Europe, spurring a steady growth in online entertainment interaction in the country. Its technological capabilities have helped locals play exciting online slot games with state-of-the-art features and cinematic visuals without lag, indicating a promising future for Hungary’s entertainment sector. 

Generous Tax Rebates Fuel Local Growth

Hungary’s ascension to being the largest film producer in continental Europe was the result of decades of policy and strategy. For the last 20 years, the local government has provided a 30% tax rebate for international productions. This is tied with the Czech Republic with the highest rebate on the continent.

The past five years have seen Hungary’s film production spending grow from only $183 million in 2018 to an impressive $910 million in 2023. The number of productions with budgets over $1.5 million has also doubled in the past few years, proving the growing confidence that international studios have in Hungarian talent and facilities.