A professional energy broker services company – ‘Utility Bidder’ based in the United Kingdom, undertook an assessment of the cost of running a business, across major cities across the Globe. The outcome of their international assessment, was that Budapest, the capital city of Hungary, came out tops as the most affordable city in the world to run a business from.
The research covered 70 major cities across the World and sought to uncover the most affordable, cost effective city, based upon various criteria including: Corporate Tax Rate, Average Annual Office Rental cost (per square feet), Average Salary, Cost of Electricity price per kWh, and Annual Internet Cost.
Budapest received an overall score of 90.72 out of a possible 100, clinching the top spot. Factors that put Budapest into the top spot were points such as:
- Hosting the lowest corporate tax rate (9%) out of all the cities on the list
- One of the most cost effective and value for money, average office rental costs = €37.20 (per square feet)
- Cost of Electricity price per kWh = €0.12
- Monthly Internet Cost = €13.58
- Average Salary of = €17,316
