ESR Fall: Budapest
ESR Fall Trip: competitiveness in a rapidly changing global environment
Budapest has developed into one of Central Europe’s most important economic and business centres. Thanks to its strategic location in the heart of Europe, strong infrastructure, skilled workforce, and connections to both Western and Eastern European markets, the city has become an attractive location for multinational enterprises, investors, and innovative businesses.
Over the past decades, Budapest has increasingly positioned itself as an internationally connected business hub. Foreign direct investment, technological development, digitalisation, and access to European markets have contributed significantly to the city’s economic growth. At the same time, Budapest operates in a rapidly changing global environment in which technological innovation, sustainability, labour market developments, and economic and political uncertainty are becoming increasingly important.
Budapest’s development is not limited to one particular industry. International companies, financial and professional services, technology firms, manufacturing companies, and a growing innovation ecosystem all contribute to the city’s economy. At the same time, developments such as artificial intelligence, changing labour markets, sustainability requirements, and international investment flows are reshaping the way companies operate.
This makes Budapest an interesting case study for examining how a European city can remain competitive and continue its economic development in a rapidly changing global environment.
European Study Research: an unforgettable academic experience
European Study Research (ESR) is an incredible opportunity for students to enrich their academic journey. It allows you to combine academic research with company visits, international exposure, and an unforgettable group experience. During ESR, you will expand your professional network, develop valuable research skills, and gain insight into how theory translates into practice in an international business environment.
Your ESR experience begins with an opening dinner, followed by several weeks of lectures, dinners, and socials every Monday evening. Throughout this period, various academic topics, research methods, and perspectives will be discussed. After the research trip, additional lectures will take place, concluding with a final dinner to complete the research process.
The highlight of the program is a seven-day research trip to Budapest from November 21st until November 28th, where 25 students, 2 professors, and 6 committee members will combine academic research with company visits, culture, and social activities.
Main research theme
The Competitiveness and Economic Development of Budapest in a Rapidly Changing Global Environment
As a participant in ESR Budapest, you will conduct research into the factors that contribute to Budapest’s competitiveness and economic development. The research focuses on how Budapest is adapting to technological, economic, environmental, and social developments in order to remain competitive in an increasingly interconnected and rapidly changing global environment.
Participants will be divided into subgroups, each focusing on a specific subtheme related to Budapest’s competitiveness. These subthemes will guide your research questions and together provide a comprehensive analysis of the opportunities and challenges facing Budapest.
Throughout the program, you will develop essential research skills, including:
- Building theoretical frameworks
- Designing conceptual models
- Conducting academic and applied business research
You will regularly present your findings during lectures and receive feedback from professors and the ESR committee.
The final deliverable will be a comprehensive research paper, including recommendations from each subgroup, which will be presented to the companies and organizations visited in Budapest.
Research subthemes
Digitalisation
Digitalisation is becoming increasingly important for the competitiveness of cities and businesses. New digital technologies can increase productivity, improve business processes, and create new opportunities for economic growth. This subtheme examines how digitalisation contributes to Budapest’s competitiveness and economic development, and how businesses in the city are adapting to an increasingly digital economy.
Innovation and Artificial Intelligence
Innovation plays an important role in strengthening Budapest’s long-term economic development. Emerging technologies such as artificial intelligence are changing industries, creating new business models, and influencing how companies compete internationally. This subtheme investigates the role of innovation in Budapest’s economic development and the speed at which Budapest adopts new innovations compared with the rest of Europe.
Sustainability and CSR
Sustainability is becoming an increasingly important consideration for governments and businesses. Companies are expected to combine economic performance with environmental and social responsibility, while cities face the challenge of achieving economic growth in a sustainable way. This subtheme explores how sustainable urban and economic development affects Budapest’s competitiveness, with particular attention to sustainability strategies and corporate social responsibility.
Job (Dis)placement and Labour Market Dynamics
Technological developments, demographic changes, and changing business needs are transforming labour markets across Europe. These developments can create new employment opportunities while simultaneously changing or replacing existing jobs. This subtheme focuses on how changes in the labour market influence Budapest’s ability to remain competitive, including how businesses and employees respond to changing skill requirements and technological developments.
Foreign Direct Investment
Foreign direct investment plays an important role in Budapest’s economy and its position as an international business location. International companies bring capital, employment, knowledge, and connections to global markets. This subtheme examines why Budapest appeals to foreign companies and investors and how foreign investment contributes to the Hungarian economy. It can also explore how developments surrounding EU funding influence Hungary’s attractiveness to international businesses and investors.
Risk Management and Economic Resilience
Operating in a rapidly changing global environment also creates economic, political, and social risks. The ability of cities and businesses to respond to uncertainty can therefore have a major influence on long-term competitiveness. This subtheme investigates how Budapest can manage economic, political, and social risks to maintain long-term competitiveness, including the potential role of European funding and Hungary’s Recovery and Resilience Plan in shaping the business environment.
The six proposed areas correspond to the technological, innovation, environmental, social, strategic, and external factors identified in the research document.
Practical information
The total cost of participating in ESR Budapest will be 250 euros and includes transportation to Budapest, accommodation and various group activities.
Applications are open to bachelor students of the Faculty of Economics and Business with at least 45 ECTS, as well as (pre-)master students.
The ESR experience is one that is unique, and should not be missed! In order to take part in this amazing project, click on the register button here on the right! After that, send your CV and motivation letter to esrfall@ebfgroningen.nl Applications close on the 13th of September 23:59!.
ESR Timeline
- Application deadline: 13th of September
- Interviews and selection
- Introduction dinner
- Weekly lectures, dinners, and socials
- Research trip to Budapest
- 21st until the 28th of November
- Lectures and socials after the trip
- Closing dinner
ESR Workload
In the weeks prior to the research trip, participants are expected to attend a lecture, dinner, and social every Monday evening. During the lectures, research methods will be discussed, subgroup presentations will take place, and workshops will be organized. In addition, participants are expected to work on their research assignments with their subgroup. On average, ESR requires approximately 6–8 hours per week.