Hungary slips five places in IMD world competitiveness ranking

Competition

The United States has regained the No. 1 spot in the world competitiveness ranking of IMD, a top-ranked global business school based in Switzerland. Last year’s winner, Hong Kong came in third, overtaken by Switzerland. No new country made it to the Top 20 compared to the previous ranking, whereas the United Arab Emirates leaped to the 8th place form the 16th. Hungary slipped five positions and even Ukraine finished before it. In Europe, the most competitive nations include Switzerland (2), Sweden (4) and Germany (9), “whose success relies upon export-oriented manufacturing, diversified economies, strong small and medium enterprises (SMEs) and fiscal discipline”. From the central-eastern European region Poland is the 33th, up one place, the Czech Republic 35th and Slovakia ranked 47th. Romania has got the 55th place, while Bulgaria is the 57th. Russia (42th) rose in the rankings 6 positions.

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