Published: Monday, 21th October 2024
The Standard of living in Hungary is 1.43 times lesser as compared to San Marino.
In this page, you will find side-by-side Standard of Living comparison between Hungary and San Marino. We have created 53 standard-of-living indicators. We average the values and ranges of all those indicators and take a mathematically calculated approach to determine which country has a better standard of living between Hungary and San Marino.
 Indicators  | Hungary  | San Marino  |
|---|---|---|
Gross Domestic Product (GDP)(2023)  | $223 billion USD | $2.034 billion USD |
GDP Per Capita (2023)  | 23,318 USD | 59,405 USD |
GINI Ratio (2023)  | 0.29 | 0.35 |
Inflation on Consumer Prices (2023)  | 17.12 % annually | 1.05 % annually |
Central Government Debt (2023)  | 75.5 % of GDP | 95.1 % of GDP |
Gross Domestic Product (GDP) is a measure of the total value of all goods and services produced within a country in a specific time period, usually a year. It is used to gauge the economic performance of a country and indicates how wealthy and productive a nation is. In simple terms, GDP tells us how much a country is producing and how well its economy is doing.
As per the statistics from the World Bank Data for the year 2023, the total GDP of Hungary is $223 billion USD and that of San Marino is $2.034 billion USD.
On the other hand, Gross Domestic Product (GDP) Per Capita is the average economic output per person in a country. Simply put, it shows how much, on average, each person contributes to the economy, giving an idea of the standard of living and economic well-being of the people in that country.
From the above data, we can say that a person living and working in Hungary contributes less to the country's economy compared to a person working in San Marino.
Indicators | Hungary | San Marino |
|---|---|---|
Human Development Index (HDI) (2024)  | 0.851 | 0.867 |
Human Capital Index (HCI) (2024)  | 0.68 | Yet to Update |
Literacy Rate (2023)  | 99.1% (15 years+ above age) | 99.91% (15 years+ above age) |
Life Expectancy Ratio (2023)  | 74.4 years | 83.4 years |
Healthy Life Expectancy Ratio (2023)  | 64.8 years | 73.9 years |
Poverty Ratio (2023)  | 12.1% of total Population | Yet to Update |
Unemployment Rate (2023)  | 4.13% of total labor force | Yet to Update |
The Human Development Index (HDI) is a measure used to assess the overall well-being and quality of life of people living in a country. The key dimensions that give a country good HDI rank are a long and healthy life, being knowledgeable and having a decent standard of living.
From the above given statistics, we can see that the HDI of Hungary is [ 0.851 ] and the HDI of San Marino is [ 0.867 ].
The data shows that the people living in Hungary has lower income, life expectancy and education level compared to San Marino.
Indicators | Hungary | San Marino |
|---|---|---|
Gross National Expenditure (2023)  | 94.89 % of GDP | 73.84 % of GDP |
Total Health Expenditure (2023)  | 7.38 % of GDP | 9.5 % of GDP |
Research and Development Expenditure (2023)  | 1.64 % of GDP | Yet to Update |
Government Expenditure on Education (2023)  | 5.01 % of GDP | 3.11 % of GDP |
International Tourism Expenditure (2023)  | 1,334 million USD | Yet to Update |
Number of International Tourists Arrivals (2023)  | 31,641,000 | 1,904,000 |
Military Expenditure (2023)  | 1.53 % of GDP | Yet to Update |
The total Gross National Expenditure of Hungary is 94.89% of its GDP and the total Gross National Expenditure of San Marino is 73.84% of its GDP.
From the above data, we can say that Hungary spends 1.29 times more of its GDP on Gross National Expenditure compared to San Marino.
Indicators | Hungary | San Marino |
|---|---|---|
Number of Doctors (2023)  | 33 (Per 10,000 People) | 35.3 (Per 10,000 People) |
Number of Nurses (2023)  | 55.1 (Per 10,000 People) | 71.1 (Per 10,000 People) |
Number of Pharmacists (2023)  | 8.14 (Per 10,000 People) | 5.3 (Per 10,000 People) |
Available Hospital Beds (2023)  | 7.01 (Per 1000 People) | 3.8 (Per 1000 People) |
Pregnant Women Receiving Prenatal Care (2023)  | Yet to Update | Yet to Update |
Hungary has 1.07 times less Doctors compared to San Marino (Per 10,000 People).
Hungary has 1.29 times less Nurses compared to San Marino (Per 10,000 People).
Indicators | Hungary | San Marino |
|---|---|---|
Agricultural Land (2023)  | 50,436.89 Sq Km | 23 Sq Km |
Forest Area (2023)  | 20,515.57 Sq Km | 10 Sq Km |
CO2 Emissions (2023)  | 0.13 kg per PPP $ of GDP | Yet to Update |
Access to Electricity (2023)  | 100 % of total Population | 100 % of total Population |
Access to Internet (2023)  | 90.46 % of total Population | 74.86 % of total Population |
Annual Fresh Water Withdrawals (2023)  | 4.67 Billion cubic meters | Yet to Update |
100% of the total Population of Hungary has access to the electricity in their homes, whereas, in case of San Marino, 100% of the total Population has access to electricity.
Indicators | Hungary | San Marino |
|---|---|---|
Time Required to Start a Business (2023)  | 7 Days | 11.5 Days |
New Businesses Registered (2023)  | 27,399 (New Businesses) | Yet to Update |
New Businesses Registration Density (2023)  | 4.32 (Per 1000 People) | Yet to Update |
Cost of Business Start-Up Procedures (2023)  | 4.5 % of GNI Per Capita | 8.8 % of GNI Per Capita |
It usually takes 7 days in Hungary and 11.5 days in San Marino to register a new business legally and systematically.
Indicators | Hungary | San Marino |
|---|---|---|
Imports of Goods and Services (2023)  | 76.09 % of GDP | 158.16 % of GDP |
Total Fuel Imports (2023)  | 9.63 % of Merchandise Imports | Yet to Update |
Cost to Import Border Compliance (2023)  | Yet to Update | 50 USD |
Time to Import Border Compliance (2023)  | Yet to Update | 4 Hours |
Cost to Import Documentary Compliance (2023)  | Yet to Update | 100 USD |
Time to Import Documentary Compliance (2023)  | 0.75 Hour | 2.5 Hours |
Indicators | Hungary | San Marino |
|---|---|---|
Exports of Goods and Services (2023)  | 81.2 % of GDP | 184.31 % of GDP |
Total Fuel Exports (2023)  | 3.14 % of Merchandise Exports | Yet to Update |
Cost to Export Border Compliance (2023)  | Yet to Update | Yet to Update |
Time to Export Border Compliance (2023)  | Yet to Update | Yet to Update |
Cost to Export Documentary Compliance (2023)  | Yet to Update | Yet to Update |
Time to Export Documentary Compliance (2023)  | 0.75 Hour | 0.5 Hour |
Indicators | Hungary | San Marino |
|---|---|---|
Gross National Savings (2023)  | 26.31 % of GDP | Yet to Update |
Tax Revenue (2023)  | 23.43 % of GDP | 17.3 % of GDP |
Taxes on Exports (2023)  | 1.92 % of Tax Revenue | Yet to Update |
Taxes on Goods and Services (2023)  | 40.14 % of Tax Revenue | 18.6 % of Tax Revenue |
Taxes on International Trade (2023)  | Yet to Update | 0.43 % of Revenue |
Time to Prepare and Pay Taxes (2023)  | 277 Hours | 52 Hours |
Customs and Other Import Duties (2023)  | Yet to Update | 1.08 % of Tax Revenue |
We hope you enjoyed the detailed guide on the standard of living comparsion between Hungary and San Marino.
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