Main points
- There are 246 companies with Hungarian owners operating in Ukraine, of which every seventh has an annual income of over 100 million UAH.
- Most Hungarian businesses are concentrated in Transcarpathia, and the most profitable companies are based in Kyiv.
How Hungarian business “captures” Ukraine and how much it earns / Collage of Channel 24, photo Getty Images
There are currently 246 companies operating in Ukraine with Hungarian owners – all of them submitted financial statements for 2025. And what is interesting: approximately every seventh such business has already achieved an annual income of over 100 million hryvnias.
What is known about Hungarian business in Ukraine?
In general, Hungarian business in Ukraine feels quite confident – the combined revenue of these companies reached 29.77 billion hryvnias, which is 8% more than a year earlier, writes Opendatabot.
The undisputed leader among them remains OTP Bank – its annual revenue almost reaches 12 billion. Moreover, it is the only company with Hungarian roots that has made it into the current OpenDatabot Index.
Next on the list of the richest is the agro-construction group “Astra” with revenue of 3.6 billion hryvnias. It is followed by TIS – Coal (1.95 billion), OTP Leasing (1.7 billion) and Transinvestservice with 1.68 billion. It is worth considering that some of these businesses have a mixed ownership structure – along with Hungarians, Ukrainian or other European investors are present there.
Yes, the growth in the revenues of such companies may mean increased competition for Ukrainian businesses, but at the same time, additional taxes and jobs.
Where are the most Hungarian businesses located and what areas are highlighted?
Geographically, the largest concentration of Hungarian businesses is in Transcarpathia – 115 companies are registered there, almost half of the total. Another 67 such businesses operate in the capital, and 21 in the Odessa region. At the same time, Kyiv has become the center of the most profitable companies: almost half of the enterprises with income over 100 million are based here – 15 companies:
- As for the areas of activity, Hungarian investors most often choose wholesale trade – there are 54 such companies.
- Real estate is also in demand (24 businesses).
- The agricultural sector also remains consistently attractive – 17 companies operate here.
The most popular business areas of Hungarians / infographics Opendatabot
Interesting! The activity of Hungarian business in Ukraine is partly explained by geographical proximity, especially Transcarpathia, as well as historical economic ties between the countries. This indicates that foreign investors continue to work in Ukraine even despite the war and economic risks.
Why do foreigners open a business in Ukraine?
According to the results of 2025, foreigners actively registered businesses in Ukraine, and we are talking not only about large investments, but also about small and medium-sized businesses, writes Opendatabot.
By the way, Cyprus and the Netherlands have long been key “hubs” for structuring Ukrainian business. We are talking about companies that had revenue of over 100 million hryvnias according to their financial statements for 2025.
Most often, foreigners choose the following industries:
- wholesale trade – 25.8%;
- agriculture – 8.9%;
- IT – 5.9%;
- electricity and gas supply – 5.4%;
- retail trade – 4.3%.
How do Ukrainian refugees affect the GDP of European countries?
Ukrainians abroad are economically active members of society, who are mostly integrated into local economies. The influx of population allows European countries to solve the problems of labor shortages and aging nations. This was stated by labor market expert Vasyl Voskoboynyk in a commentary for Channel 24 .
Due to the war , 5-7 million Ukrainians left for the EU countries. Most settled in Poland, Germany and the Czech Republic, where, together with migrants from previous years, Ukrainians are integrating into local labor markets, filling budgets and pension funds. According to expert Vasyl Voskoboynyk, the presence of Ukrainians in the EU has a tangible economic effect, because among them are employed:
- in Poland – 900 thousand Ukrainians;
- in Germany – 295 thousand;
- in the Czech Republic – about 390 thousand.
Vasyl Voskoboynyk
Head of the Migration Policy Office, President of the All-Ukrainian Association of International Employment Companies
Ukrainians are not a burden for Europe. This is an asset for which Europeans are ready to compete. We find ourselves in a unique situation where Ukraine, Poland, the Czech Republic, and Germany are competing for Ukrainians abroad. On the one hand, this is a pleasant surprise, and on the other, it makes us understand that our country is facing a very significant challenge.
The following figures for 2024 demonstrate the contribution of Ukrainians to the economies of these states:
- in Poland's GDP – 2.7%;
- Czech Republic – 2.2 – 2.3% of GDP;
- Germany – about 0.6 – 0.7% of GDP.
Regarding the latter, the expert notes that the contribution of Ukrainians to the welfare of Germany is also significant, despite the seemingly lower percentage, because its economy is the largest in Europe.
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