Originally launched in 2004, when it became the first film incentive in Central Europe, the Hungarian scheme has already contributed to a string of commercial successes, including “Hellboy II: The Golden Army,” “A Good Day to Die Hard,” “The Martian,” and “Terminator: Dark Fate.”
Hungary says it is now continental Europe’s biggest production hub and has reached USD 910 million in direct annual film production spend, a fourfold increase in volume in the last five years.
“2024 marks a significant milestone: the 20th anniversary of the Hungarian film support scheme that has not only transformed our film industry but has also elevated Hungary’s global presence and recognition,” Káel said in Los Angeles at the first “Made in Hungary” event on Oct. 28.
“Over the past few years, films made in Hungary are consistently nominated for and honored with the most prestigious awards, including the Oscars and the Baftas,” the Government Commissioner for the Development of the Hungarian Film Industry said.
The Hungarian film support scheme was due to expire at the end of 2024, but its the prolongation until 2030 has been approved by the European Commission. The incentive encourages filmmakers from all over the world to shoot their stories in Hungary, utilizing the country’s stunning landscapes, cutting-edge studios, and the world-renowned expertise of local film professionals.
On Oct. 28, the National Film Institute proudly presented the inaugural “Best International Production Filmed in Hungary” award to boundary-breaking, box office hit “Poor Things” at Melrose Rooftop Theater, Beverly Hills.
Outstanding Achievement
The newly established award is designed to recognize an outstanding work, produced in Hungary with the involvement of Hungarian professionals, and released for American distribution or on television/streaming channels in the past 18 months.
“This extension [of the incentive scheme] allows us to build on our success and deepen our commitment to take the Hungarian moving picture industry to a whole new level,” he noted.
The Made in Hungary award was initiated by the National Film Institute Hungary, in collaboration with the Liszt Institute New York.
Speaking at the Los Angeles event, Csenge Palotai, director of the Liszt Institute New York said, “We are committed to supporting new partnerships between the Hungarian and American film industries and to showcasing the best of Hungarian cinema internationally. This tradition-making festival is an exceptional opportunity to take cultural relations between Hungary and Hollywood to a new level by leveraging the potential of bilateral diplomacy and local representation of Hungarian interests.”
Recent international productions filmed in Hungary include Ridley Scott’s “Alien: Romulus,” the winner of the Venice International Film Festival Silver Lion for Best Director “The Brutalist,” biopic “Maria,” starring Angelina Jolie, “Nuremberg,” with Russell Crowe and Rami Malek, the third installment of the “Now you see Me” films, the latest seasons of the CBS series “FBI: International,” and “NCIS,” and upcoming TV series “Dune: Prophecy” by Max, and “The Day of the Jackal” by NBC.
Cinema and TV films produced in Hungary are eligible for a 30% rebate based on their expenditure (all direct film production costs) in the country. The incentive is available through local business companies who receive tax relief after their support of films or is guaranteed by the Hungarian State through the Collection Account managed by the NFI.
Contemporary Hungarian art on Display in New York
Contemporary Hungarian art from the National Bank of Hungary (MNB) collection has gone on display in the Fridman Gallery on Manhattan’s Lower East Side. It will be open to the public for one month, according to a statement issued on the MNB website. The exhibition, entitled “Abstract Narratives,” features works by, among others, Zsófia Barabas, Márton Nemes, Judit Reigl, Róbert Batyko, István Felsmann, Erika Fábián and Anthony Vasquez. MNB deputy governor Barnabás Virág told the opening event on Oct. 19 that, following the example of other central banks around the world, the MNB had founded its contemporary art collection in 2020. By now, it includes some 1,400 works; after New York, the exhibition will travel to 14 cities in Europe and Asia.
This article was first published in the Budapest Business Journal print issue of November 4, 2024.
