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Oct 18, 2018

Hungary advances 12 places in World Economic Forum competitiveness ranking

Hungary has placed 48 out of 140 countries this year and has risen from 69 in 2016 and 60 in 2017

Hungary has advanced 12 places in the latest World Economic Forum competitiveness ranking, 2018.

Hungary has placed 48 out of 140 countries this year and has risen from 69 in 2016 and 60 in 2017.

Among the 12 competitiveness factors reviewed by the renewed WEF rankings, 11 of Hungary’s improved significantly.

Hungary had the largest improvement in the following categories: infrastructure (28th place), innovation (39th place) and macroeconomic stability (43th place).

According to the report, all these indicators confirm the success of Hungary’s economic policy to continue to improve the quality and competitive conditions of economic growth while maintaining macroeconomic stability.

The government founded the National Competitiveness Council with the purpose of improving short and long-term competitiveness of the Hungarian economy.