„The business climate has improved considerably, our enterprises are now more competitive” – said HCCI President and member of the National Competitiveness Council Dr. László Parragh commenting on the Global Competitiveness Report 2019 in an interview to the business daily, Világgazdaság. „However, we still need many more small steps on the long road leading to a perfect business environment” he added.
In the latest competitiveness rankings published today by the Davos-based World Economic Forum (WEF), Hungary is ranked 47th among 141 countries included in the rankings. Compared with last year’s ranking, Hungary has moved up by one place. Hungary’s absolute performance, meaning its Global Competitiveness Index has improved by 0.8 point which is the best improvement among the Visegrád countries. Compared with last year, Hungary’s competitiveness has improved in eight areas of the twelve main competitiveness factors taken into consideration for the rankings. From among the 12 main factors, Hungary scored best in the areas of Infrastructure (27th place), innovation capability (41st place) and macroeconomic stability (43rd place).
Hungary has achieved the highest move up in the case of the categories of institutions and labour market. Regarding the latter, the improvement of the general labour market indicators and the improved corporate perception of the renewed vocational training system contributed most to the improved ranking, while the former was boosted by the improved corporate perception of the government’s economic policy. Hungary’s performance has improved overall in more than one half of the 103 indicators examined.