Competitiveness of V4 Countries Using the Global Competitiveness Index

University of Zilina, Faculty of Operation and Economics of Transport and Communications, Department of Economics, Univerzitna 1, 010 26 Zilina, Slovakia

^* Corresponding author: veronika.galgankova@fpedas.uniza.sk

Abstract

The article is focused on the evaluation and comparison of the international competitiveness of the Visegrad countries – four countries Slovak Republic, Czech Republic, Hungary and Poland. The article consists of four chapters. The first chapter is focused on a short introduction to the issue. The second chapter briefly describes the methodology used in writing the article. It analyzes in detail the individual parts and subindices of the Global Competitiveness Index. The third chapter evaluates the specific values of the index which the countries of Visegrad four achieved from 2010 to 2018. The fourth chapter focuses on assessing the strengths and weaknesses of the countries’ competitiveness. It also contains a proposal for the future direction of states. The concept of global competitiveness is increasingly being used to assess many different methods and indices in comparing countries. One of the best known indices is the Global Competitiveness Index, which is compiled annually by the World Economic Forum. It assesses how countries achieve and maintain economic growth and how business of every country is influenced by competitiveness. Higher quality of financial reports makes companies more competitiveness and motivate investors to put money into them.