The World in 5 Years - Business Forum Held by VIDEOTON
After the opening speech by Dr. András Cser-Palkovics, Mayor of Székesfehérvár, Ottó Sinkó, Co-CEO of VIDEOTON HOLDING ZRt., highlighted that the automotive industry currently faces several uncertainties, while new markets and opportunities are also emerging. Following this, Co-CEO Péter Lakatos emphasized in his brief greeting that adapting to new circumstances requires a change in our mindset. The forum continued with a presentation by Dávid Németh, Chief Analyst at K&H, titled “Gates in Existence,” providing a macroeconomic outlook. Németh pointed out that Hungary's budget deficit is high, inflation does not meet the central bank's target, posing a risk to the forint's exchange rate if the global economy shifts from its current delicate balance. He addressed labor market issues, noting that the Hungarian society continues to age (albeit at a slowing pace) and emphasized the need to increase the proportion of educated labor while also highlighting that an increase in recreational time would boost long-term efficiency.
In the subsequent panel discussion, invited company leaders evaluated the previous macroeconomic analysis and anticipated trends for the next five years from the perspective of their own market segments. The participants largely agreed that protective tariffs should be applied against China in Europe; however, this alone would not solve the continent's competitiveness issues. The big question for the future is in which areas Europe will be able to compete over the next 5-10 years.
At the end of the 2.5-hour forum, the business leaders agreed that many topics remained open, and thus they would continue the discussion at the next forum, anticipated to be held in a year.