Hungary further slips in competitiveness

Hungary ranks 63rd - three places worse than last year - on the World Economic Forum’s Global Competitiveness Index (GCI 2013-2014), which features a record number of 148 economies. This performance was enough for Hungary to grab the 24th place among the 28 member states of the European Union.

As the Hungarian business news portal portfolio.hu reports, there was no change on the top of the ranking, with Switzerland coming in first, followed by Singapore and Finland.

As in previous years, this year’s top 10 remain dominated by a number of European countries, with Switzerland, Finland, Germany, Sweden, the Netherlands, and the United Kingdom confirming their places among the most competitive economies.

Among the Visegrád Four countries the Czech Republic slipped back 7 places to the 46th, whereas Poland finished higher at the 42nd place, becoming the most competitive economy in the region and taking over the Czech Rep. Hungary had the best position in 2011 (48), and now it is only 63rd - close to its 2007 ranking.