Impact of COVID-19 on personal financing of international students in Hungary - solutions towards personal well-being

Tong Gia Hien (2022) Impact of COVID-19 on personal financing of international students in Hungary - solutions towards personal well-being. Pénzügyi és Számviteli Kar.

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Absztrakt (kivonat)

Using specific primary data from a survey with more than 102 participants, secondary data from statistics of organizations, and knowledge from earlier studies and articles, this research successfully achieved the following results with the main goal of analyzing the impact of COVID-19 on international students studying at Budapest Business School. The study first provided theoretical information about COVID-19 and individual financial security. In regards to COVID-19, the research has offered a clear definition of the disease based on the viewpoints of earlier experts, taking into account the potential outcomes of the three pandemic waves in 2020 and 2021. The consequences of COVID-19 on a global level as well as on Hungary particularly are also discussed in the study. The research has created a concept for financial well-being as well as the characteristics of being financially well-off. Furthermore, the study has suggested a methodology for assessing how COVID-19 has affected international students at Budapest Business School. This framework includes four aspects of financial well-being that are relevant to international students, including: (1) the satisfaction of receiving financial support from the Stipendium Hungaricum Scholarship; (2) changes in consumption patterns; (3) building one's portfolio through investing and other sources of income; and finally (4) changes in saving frequency. Using this method, the study was able to analyze how the COVID-19 affected students' financial situation. It is evident that COVID-19 has a negative impact on international students in Hungary in general and in BGE in particular, affecting them negatively through changes in spending habits, the need to start working supplementary jobs, and altered saving habits. The initial hypothesis, Hypothesis 1 (H1): COVID-19 having adverse effects on overseas students studying in Budapest, has been the focus of the study's efforts to far. On the other hand, the pandemic encouraged international students to find alternative sources of income in order to safeguard their financial security. Finally, the study has made a number of recommendations to the Hungarian government, to foreign students studying there, and to each and every one of us that would assist raise their standard of life and prepare them for any impending economic disaster. The recommendations for the Hungarian government include the following: (1) enhance the amount of the scholarship stipend; (2) provide additional exercise space to the dorms; (3) develop a mental health program; and (4) implement fundamental financial topics. International students are advised to: (1) start caring about their own earnings; (2) construct a personal brand; and (3) begin thinking about setting up emergency money. Long-term, these recommendations should be beneficial for students to secure their financial security. This research includes some gaps in addition to the results that were obtained. The first is the sample size, which is just 105 people, which is rather tiny. Future research may consider increasing the survey scale because results are more reliable and representative when more people engage in the survey. Furthermore, rather than studying students throughout the entire nation, the research primarily focused on Hungary and the Budapest Business School, which raises the possibility that it may not have evaluated the impacts of COVID-19 on students' lives as fully as it might have. With more time and manpower, these limitations may be lifted in the future to improve the accuracy of the outcomes.

Intézmény

Budapesti Gazdasági Egyetem

Kar

Pénzügyi és Számviteli Kar

Tanszék

Pénzügy Tanszék

Tudományterület/tudományág

NEM RÉSZLETEZETT

Szak

Pénzügy és Számvitel

Mű típusa:	diplomadolgozat (NEM RÉSZLETEZETT)
Kulcsszavak:	BGE, Budapest Business School, Financial well-being, Individual financing, International students
SWORD Depositor:	Archive User
Felhasználói azonosító szám (ID):	Archive User
Rekord készítés dátuma:	2023. Ápr. 21. 10:12
Utolsó módosítás:	2023. Ápr. 21. 10:12

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