The latest report published by the Swiss institute IMD World Competitiveness Center places Hungary 42nd among the most competitive countries. Hungary has moved up 8 places and reached its highest position in 25 years. The country stands out for its low unemployment rate and attractive taxation.
In the section dedicated to international investments, the country is up 30 places.
Hungary's good economic health despite the health crisis is also confirmed in the half-yearly report published by the OECD in early June. The country's GDP for 2021 is estimated at 4.6%, driven by the country's high vaccination rate and the gradual resumption of economic activity by European partners.
The OECD estimates the country's economic growth in 2022 at around 5%, driven by robust growth in investment and exports and a continued decline in unemployment (4% in 2021 vs. 3.4% estimated in 2022).
Sources : The Budapest Times and Budapest Business Journal