Booming film industry

Hungarian and foreign filmmakers made a turnover of Ft 22.3 billion this year so far in Hungary, three times more than during the course of 2004. This is the result of a new 20 per cent tax-break for filmmaking profits, introduced in 2004. Many foreign studios plan or already started shooting major productions in Hungary. Local studios develop fast, too, including those in Pomáz, Etyek, Budapest Népsziget and Bicske. A Californian film industry association has already warned the state government of more and more outsourcing, less tax revenue and more layoffs due to improving competitiveness of Central European studios.