Rising prices is the primary concern among all age groups and gender in Hungary, according to TGM Research

In the wake of global transformations, consumers are redefining their priorities. The ongoing global conflicts, geopolitical realignments, and the rapid pace of technological advancements have collectively given rise to an altered landscape. This seismic shift has not only reshaped consumer awareness but has also become the driving force behind unprecedented changes in behaviour. Our independent survey – TGM Consumer Sentiment Survey in Hungary 2024 dives into the heart of these changes, exploring how socio-economic shifts to geopolitical events are influencing the mindset and actions of a diverse sample of 1,002 respondents aged 18-75 in Hungary.

The latest survey exploring the primary concerns among Hungarians reveals three key focal points: rising prices, wars in the world, and job security/ unemployment. Notably, the older age groups are predominantly troubled by 'rising prices,' with 61% for the age group 36-55 and 59% for the age group 56-75. Conversely, the younger age group 18-35 shows slightly less alarm at 57%.

Despite sharing the same primary concern over rising prices, each age group harbor distinct concerns of their own. In Hungary, the middle (36-55) and the older age group (56-75) are mostly concerned with global conflicts, with a significant 16% and 22% respectively expressing this worry, while younger adults aged 18-35 are primarily focused on job security, standing at 17%. The issues of war and unemployment resonate across all age groups and genders, underlining the pervasive anxieties stemming from recent economic uncertainties. As such, these concerns are unlikely to diminish until there is significant progress in addressing underlying economic instabilities and global conflicts.

Exploring how Hungarians perceive the political and economic repercussions of ongoing conflicts, findings revealed a nuanced outlook. While 40% of Hungarian respondents opted for a 'neutral' stance, a substantial 38% expressed a 'pessimistic' outlook. These figures underscore a prevailing sense of apprehension among respondents when considering the broader impacts of wars. Interestingly, gender differences were observed, with male respondents demonstrating a higher level of pessimism at 40%, while female respondents exhibited a slightly lower proportion at 37%.