There is a village in Hungary with a capital income of 7 million HUF per capita

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The 164 inhabitants of the small village of Somogycsicso in southwestern Hungary earned the highest capital income last year with an average of 7 million HUF (EUR 19,584), reports 24.hu, based on the findings of the Institute of economic research (GKI).

GKI calculated the development of capital income in Hungary in 2020. According to the report, in 2020 the share of people with a capital gain fell by almost 40,000, no doubt due to the pandemic and the its effect on the economy.

The average per capita income after tax was HUF 6.75 million two years ago, while the average annual net income was HUF 3.2 million.

The richest 11%, or 30,000 people, accounted for 78% of all capital income, individually bringing home an average of HUF 48 million per capita in 2020.

Attention should also be paid to the concentration of capital income according to locality and wealth. The numbers suggest that the richer capital holders got even richer, while the less wealthy either didn’t make much profit or had to reinvest their money.

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Budapest accounted for 35% of capital gains, followed by Pest County with 16%, then Hajdú-Bihar County with 5.5%, while Nógrád County was the only county with a share below 1%.

In terms of capital income per capita, the inhabitants of Somogycsicsó, located in southwestern Hungary, and with a population of only 164 inhabitants, are those who have accumulated the most profits on average, 7 million HUF in 2020.

Felcsút, the village where Prime Minister Viktor Orbán grew up and in which he still owns a house, comes second, with 5.7 million HUF (15947 EUR). This is probably due to Viktor Orbán’s childhood friend, the gas fitter turned multi-billionaire Lőrinc Mészáros, residing in the small village. Arnót, in Borsod-Abaúj-Zemplén county, comes third with 2.8 million HUF per capita.

In Budapest, Districts V, XII and II performed best in terms of capital income per capita (1.6, 1.5 and 1.1 million HUF respectively).

No secrets behind Hungary’s richest village

The mayor of Somogycsicó later revealed that there was no big secret behind the village’s record capital gains.

“There is nothing extraordinary about this, because there is a company in the village with an annual profit of one billion forints, and if this is distributed among the 150 inhabitants of the village, it is equivalent to 7 million per person,” explained József Faggyas. .

Photo illustrated by Csaba Krizsán/MTI

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