Adam - Wrapping it up in Budapest

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Its our last day of the European field seminar and we have a full day of lectures and discussions in sunny Budapest. Sarah is the first one down for breakfast, having accidentally set her alarm clock to five in the morning. Breakfast at the hotel consists of a full buffet of eggs, three types of sausages, fruits, and Hungarian breads. Tyler, Ryan and Pooja are discussing how they were cheated last night by a Hungarian taxi driver, which seems to be a common experience among our group.
We leave at 8:30 for our first meeting at the Hungarian Investment and Trade Agency. Our local tour guide Robert leads us through the Budapest “blue line” subway. The subway system seems efficient and arrives within seconds of us reaching the station, and is filled with burger king advertisements. We take the line two stops and look for the Kijarat (exit) and find our way to our last meeting of our trip.
The agency is housed in an impressive building that is probably 100 years old and fully restored. Professor Brunel gives us some insight into the history of the building before the meeting and points the impressive chandelier. We walk into the meeting room to find our hosts have graciously prepared an assortment of drinks for us, including Coca-Cola, Nestea, and Szentkiralyi (Hungarian water) in little glass bottles.
During our meeting at the Hungarian Investment and Trade Development Agency, Executive Investment Director Killan Csaba speaks about how Hungary relies on foreign direct investment, mostly in the form of manufacturing jobs, to improve its economy. Mr. Csaba explained how Hungary has an impressive educational system and is trying to not just create new jobs by attracting foreign investment in manufacturing, but also attracting jobs in Research and Development.
Considering Hungary was a communist country just twenty years ago, the economy today is impressive. On the other hand, with the exception of EGIS, it seems that Hungary cannot create the large national corporations of Holland, Belgium, and France that create domestic jobs. In order for Hungary’s economy to improve to compete with the Western European counties, it needs to have large national corporations and cannot rely on foreign investment alone.
After the meeting we met with our groups to prepare for our final discussion of what we learned and the direction of the European Union. Kate, PJ and I walked back from the meeting across the Danube where we met up with Tyler tat a restaurant to discuss what we think Americans need to know about doing business in Europe. I had delicious Goulash. Before the class left for Europe, everyone made two suggestions of what we know about doing business in Europe. Looking back on our initial advice, we realized we really didn’t know much about doing business in Europe and many of our stereotypes were completely wrong or irrelevant.
We then had a meeting in the conference room of the Artotel to discuss our observations of the trip. Each of the four groups presented their findings.
Group 1 presented the differences between business in US and the EU
Group 2 presented recommendations for conducting business in US
Group 3 presented the best practices for the European society
Group 4 presented future European trends
The meeting allowed us to reflect on what we learned as well as the differences between each of the four countries we visited.
We then had some free time!! Edwin and I went to look at the Parliament building across from our hotel. We were initially disappointed to learn that the building was closed to tourists because of a concert by the Hungarian Symphony. We then learned that we could purchase tickets to the concert which includes a tour of the building for the low price of 5200 Forints (only $26!). We decided this was a once in a lifetime opportunity and watched the concert in the great dome of the Parliament building, sitting only 10 feet away from the crown jewels, which were on display. The concert was great and the atmosphere was truly an amazing experience. For a few minutes I felt that I was a Hungarian aristocrat spending a night out.
After the concert we went as a group to the Tigris restaurant for a farewell dinner. Spending the evening with 16 friends was great, although the veal cheek that I ordered was slightly fatty and unpleasant to chew. The split pea and mint soup with cabbage was better. The evening included some toasts and sad farewells.
After the four course meal it was midnight and the night had yet to begin. We went to the Rio club, and despite our early morning flights we had an amazing time in possibly one of the oddest clubs I have attended. The entertainment was unique and the drinks were great, although I am not a fan of Unicum.

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