IMD World Competitiveness Booklet 2022

Hungary Competitiveness Trends – Overall

OVERALL PERFORMANCE (63 countries)

BASIC FACTS

Rank

2018

2019

2020

2021

2022

Capital Land area (square km '000)

Budapest

93 2021

303.141 2021

Exchange Rate (per $)

39

42

47

47

47

9.69 2021 38 182.3 2021 47 37,288 2021 37 7.1 2021 17 5.12 2021 54 4.20 2021 14 4.87 2021 38 -2.94 2021 53 101.0 2020 45 108.98 2020 01

Population - market size (millions)

Gross Domestic Product (GDP) (US$ billions)

CHALLENGES IN 2022

GDP (PPP) per capita (US$)

• Decrease high debt and deficit level without harming growth prospects. • Improve low level productivity by investing more into reskilling and upskilling. • Decrease the very high energy intensity level of the economy by modernizing technologies. • Move faster towards establishing circular economy in order to increase effectiveness and efficiency. • Improve economic resilience and agility by increasing the proportion of high value added activities in the economic structure.

Real GDP growth (%)

Consumer price inflation (%)

Unemployment rate (%)

Labor force (millions)

Current account balance (% of GDP)

Direct investment stocks inward ($bn)

Direct investment flows inward (% of GDP)

PROVIDED BY: University of Public Service, Budapest

COMPETITIVENESS LANDSCAPE

Economic Performance Government Efficiency

Business Efficiency

Infrastructure

Domestic Economy

International Trade

International Investment Employment Prices

Public Finance Tax Policy

Institutional Framework Business Legislation

Societal Framework

Productivity & Efficiency Labor Market Finance

Management Practices

Attitudes and Values

Basic Infrastructure

Technological Infrastructure Scientific Infrastructure

Health and Environment Education

4

15

25

26 23

29

29

33 33 31 36

35

41

41 43

44

46 50

53

60

PEER GROUPS RANKINGS EUROPE - MIDDLE EAST - AFRICA (40 countries)

POPULATIONS < 20 MILLION (36 countries)

2018

2019

2020

2021

2022

2018

2019

2020

2021

2022

24

26

29

30

26

31

31

27

27

27

74 Competitiveness Country Profiles