Budapest is the capital of Hungary. As the largest city of Hungary, it serves as the country’s principal political, cultural, commercial, industrial, and transportation centre. Budapest has 1.7 million inhabitants, the Commuter Area is home to 3.3 million people. The city covers an area of 525 square kilometres (202.7 sq mi) within the city limits. Budapest became a single city occupying both banks of the river Danube with a unification on 17 November 1873 of right (west)-bank Buda and Óbuda with left (east)-bank Pest.
Cited as one of the most beautiful cities in Europe, its extensive World Heritage Site includes the banks of the Danube, the Buda Castle Quarter, Andrássy Avenue, Heroes’ Square and the Millennium Underground Railway, the second oldest in the world. Other highlights include a total of 80 geothermal springs, the world’s largest thermal water cave system, second largest synagogue, and third largest Parliament building. The city attracts about 2.3 million tourists a year. Considered an important hub in Central Europe, the city ranked 3rd (out of 65 cities) on Mastercard’s Emerging Markets Index (2008), and ranked as the most livable Central/Eastern European city on EIU’s quality of life index (both 2009 & 2010). It is also ranked as “Europe’s 7th most idyllic place to live” by Forbes. It is the highest ranked Central/Eastern European city on Innovation Cities’ Top 100 index, and has featured well in a number of specialist rankings. Budapest is home to the headquarters of the European Institute of Innovation and Technology (EIT), and the first foreign office of the CIPA.
From the 1960s to the late 1980s Hungary was often satirically referred to as “the happiest barrack” within the Eastern bloc, and much of the wartime damage to the city was finally repaired. Work on Erzsébet Bridge, the last to be rebuilt, was finished in 1965. In the early 1970s, Budapest Metro’s East-West M2 line was first opened, followed by the M3 line in 1982. In 1987, Buda Castle and the banks of the Danube were included in the UNESCO list of World Heritage Sites. Andrassy Avenue (including the Millennium Underground Railway, Hősök tere and Városliget) was added to the UNESCO list in 2002. In the 1980s the city’s population reached 2.1 million. In recent times a significant decrease in population occurred mainly due to a massive movement to the neighbouring agglomeration in Pest county. In the last decades of the 20th century the political changes of 1989-90 concealed changes in civil society and along the streets of Budapest. The monuments of the dictatorship were taken down from public places, into Memento Park. In the first 20 years of the new democracy the development of the city was managed by Gábor Demszky.
