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Hungary drops in IMD 2011 world competitiveness rankings

Hungary placed 47th in the International Institute for Management Development (IMD) 2011 World Competitiveness Scoreboard, down from 42nd place in 2010. The scoreboard ranks 59 global economies based on their competitive edge.

Hungary dropped to 44th on IMD's 2011 economic-performance sub-index from 40th in 2010, to 50th on the 2011 business-efficiency sub-index from 47th in 2010 and to 52nd on the 2011 government-efficiency sub-index from 51st in 2010. It was unchanged from last year on the 2011 infrastructure sub-index at 35th place.

Hungary lagged behind regional peers Czech Republic and Poland, which finished in 30th and 34th place, respectively, in IMD's 2011 World Competitiveness Scoreboard, while outperforming Slovakia and Romania, which placed 48th and 50th in the ranking, respectively.

The United States and Hong Kong tied for first in the 2011 World Competitiveness Scoreboard, while Venezuela was last.

IMD is a non-profit business school located in Lausanne, Switzerland.