IMD lifts Hungary’s ranking by two spots

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Hungary’s ranking among the world’s most competitive economies rose two rungs to 46th place, according to a press release issued by the IMD World Competitiveness Center today.

IMD World Competitiveness Center, Lausanne, Switzerland. (Photo: IMD website)

Hungary’s neighbors, however, fared better, with Latvia, Slovakia and Slovenia making what the IMD called the “most impressive strides in Europe”.

The United States, which has topped the list for the past three years, was overtaken by China Hong Kong in first place and Switzerland in second, the IMD said.

The IMD World Competitiveness Center is a research group within IMD business school that first published the ranking in 1989. It is regarded as the foremost annual assessment of the competitiveness of countries across the globe, the press release said.

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