Economy

World Economic Forum Ranks Hungary’s Competitiveness Only 63th In World

Hungary has slipped to the 63rd place in the latest ranking of 140 countries based on competitiveness compiled by the World Economic Forum (WEF). In the report, Hungary fell by three places (the report included 144 countries a year earlier). On a scale of 1-7, Hungary’s overall score edged down to 4.25 from 4.28 a year earlier. Hungary reached higher scores in the category of health and primary education, the macroeconomic environment, higher education and training and technological readiness.

source: reports.weforum.org
source: reports.weforum.org

The lowest score was in innovation followed by institutions and business sophistication. Among efficiency enhancers, the country also received a low, 3.9 score on financial market development. Hungary reached its highest ranking in the infrastructure category (48th) and the lowest in institutions (97th). Hungary was preceded in the ranking by the Czech Republic in 31st place, Poland in 41st place and Romania in 53rd place, but was ahead of Slovakia, in 67th place. These regional countries in contrast to Hungary saw a rise in their rankings.

via hungarymatters.hu and reports.weforum.org photo: Chris Ratcliffe – Bloomberg