Mónica Vázquez is the Economic and Commercial Counselor at the Spanish Embassy in Hungary. Differences and similarities between Spain and Hungary

At the last Exporta trade fair, held in Barcelona last November, the Spanish Embassy in Hungary received numerous visitors, demonstrating the growing interest in Hungary and its EU accession process. Hungary is a relatively distant country for Spain, no larger than Portugal, with a population of ten million, and it will become an EU member in less than three years. This is why Spain should take a keen interest in developing more robust bilateral trade relations in the medium term.
The first difference between Hungary and Spain is the small urban population of the Central European country. Budapest has two million inhabitants, while the country's second-largest city has barely 200.000. The fact that Hungary's urban population is concentrated in the capital facilitates business relations, since simply visiting the capital allows businesspeople to gain a sense of Hungarian culture.
Most politicians hold university degrees or diplomas, which also gives an idea of their level of education. Consequently, the standard of education and social services is very high, which is why many foreign companies have established themselves here (furthermore, the cost of skilled labor is significantly lower than in Western countries).
Unemployment is the problem that most worries Hungarians. It currently stands at 6,5%. The internet connection rate is higher than in Spain, making Hungarian society fully immersed in new technologies.
Conversely, its GDP per capita is approximately half that of Spain, yet it is growing at a significantly faster rate (between 5% and 6%). In 1998, Hungary's GDP per capita was at 43% of the EU average, and just four years later it had reached 51%.
Reducing inflation from 10% has been one of the government's priorities. The strict monetary policy implemented from October 1, 2001, succeeded in lowering it to 7,5% that year, and the government maintains its forecast of closing 2002 with inflation at 4,5%.
Two-thirds of Hungary's territory is fertile farmland. Another characteristic of Hungary is the strong presence of Roma, who make up 6% of the population. Furthermore, the country is administratively divided into 19 counties, none of which enjoy the same autonomy as the Spanish regions. This wouldn't make sense given the country's size.
Hungary is rich in natural resources, especially agricultural and mineral resources, although it is forced to import natural gas from Russia.
Hungary's openness ratio in 2000 was 102%, slightly higher than the country's GDP. This means it is one of the most open economies in the world, even more so than Spain's. In fact, although not formally part of the EU, over 70% of its foreign trade is with these countries. Three years before Spain joined the European Union, our trade with them was less than half that amount. Its currency, the Flotrinto, is a convertible currency, and the European Commission's annual report states that Hungary is the best-prepared candidate for EU accession.
It is also important to highlight that foreign investments accumulated up to this year amount to 30.000 billion euros, which translates to a per capita income of about three thousand euros.
A parliamentary democracy.
Hungary is a multi-party parliamentary democracy. General elections will be held in 2002. As in the rest of Central Europe, recent elections have seen a change of ruling parties. However, regardless of who wins, there is consensus among all political parties that EU accession is a priority. The reservations of a small segment of the population, such as farmers and the elderly, are not significant.