The economic and societal contribution of Hyundai and Kia in Europe – October 2017

Practice Area: Public Policy
Client: Hyundai Motor Company
Published:
Tagged: analysis of economic developments EC/EEA quantitative analysis

This report provides a quantification of the economic and societal benefits deriving from the presence of Hyundai and Kia in Europe. The report draws on the most up-to-date data on the operations of Hyundai and Kia in Europe, as well as official and industry data sources. The focus of the report is on the direct and indirect contribution of the European operations of Hyundai and Kia to GDP, employment and tax revenues in the EU. The headline findings are:

  • Over 390,039  people owe their jobs to the presence of Hyundai and Kia in Europe.
  • Including customs duties, sales and income taxes, Hyundai and Kia contributed €2.5 billion in taxes to European governments in 2016.
  • Hyundai and Kia are directly responsible for value added of €5.3 billion across the areas of manufacturing, supplies, research & development and sale & distribution.
  • The direct output produced by Hyundai and Kia generates additional value added throughout the economy of €10.5 billion.