IMD World Competitiveness Booklet 2023

Hungary Competitiveness Trends – Overall

OVERALL PERFORMANCE (64 countries)

BASIC FACTS

Rank

2019

2020

2021

2022

2023

Capital Land area (square km '000)

Budapest

93 2022

372,596 2022

Exchange rate (per $)

39

42

46

47

47

9,65 2022 40 178,8 2022 49 42.469 2022 37 4,6 2022 30 14,53 2022 54 3,60 2022 14 4,89 2022 38 -7,67 2022 58 101,7 2021 45 16,10 2021 04

Population - market size (millions)

Gross Domestic Product (GDP) (US$ billions)

CHALLENGES IN 2023

GDP (PPP) per capita (US$)

• Urgently control the high inflation rate. • Align the conflict between monetary and fiscal policy. • Improve the efficiency of public expenditures to decrease deficit. • Gear up the business application of digitalization. • Improve the predictability and accountability of public decision-making.

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 & Values

Basic Infrastructure

Technological Infrastructure Scientific Infrastructure

Health & Environment Education

18

18 20

30

31

33

34

35 38

36

41 43

42

46

50

51 54

53

59

63

PEER GROUPS RANKINGS EUROPE - MIDDLE EAST - AFRICA (41 countries)

POPULATIONS < 20 MILLION (37 countries)

2019

2020

2021

2022

2023

2019

2020

2021

2022

2023

26

24

29

26

30

27

27

31

31

28

78 Competitiveness Country Profiles