Struggle for modernization in 19th century (from 1867 to World War I.)

This was the period of belated but rapid industrialization, urban growth and of catching up with the rest of Europe. The city never had such a glorious era before or since. Once again the city became the centre of a large region. As the capital of the Hungarian Kingdom, which had a territory three times as large as today, it was the second most important urban centre of the Austro-Hungarian monarchy (after Vienna). And it had an economic and cultural influence stretching beyond the borders of the empire, to the Balkans and northern Italy.