Hungary market perspective, 2026
Three scenarios to 2030
EUR/HUF, 2023 to date, to 2030
Actual (2023 – Jun 2026)
Scenario 1 — managed normalisation
Scenario 2 — sustained strength
Scenario 3 — fiscal slippage
What each path means for hotels
Scenario 1
360–380
Euro-cost base durably 8–10% higher than 2023–24; manageable with active repricing.
Scenario 2
330–355
Toughest for price-anchored domestic and regional segments.
Scenario 3
380–390
Some relief for currency-exposed segments, at the cost of the wider growth story.
EUR/HUF exchange rate: 2023–25 average ~402, Q1 2026 ~397, 12 April 2026 election ~368, mid-June 2026 low ~347, late June 2026 ~355. Three scenarios to 2030: managed normalisation (360–380), sustained strength (330–355), fiscal slippage (380–390).
Period
EUR/HUF
2023–25 average
~402
Q1 2026 (pre-election)
~397
12 April 2026 (election night)
~368
Mid-June 2026
~347
Late June 2026
~355