In the 21st century, Hungary is a middle power and has the world’s 57th largest economy by nominal GDP, as well as the 58th largest by PPP, out of 191 countries measured by IMF. As a substantial actor in several industrial and technological sectors, it is the world’s 35th largest exporter and 34th largest importer of goods. Hungary is an OECD high-income economy with a very high standard of living. It keeps up a social security and universal health caresystem, and a tuition-free university education. Hungary performs well in international rankings: it is 20th in quality of life, 24th in Good Country Index, 28th in inequality-adjusted human development, 32nd in the Social Progress Index, 33rd in Global Innovation Index and ranks as the 15th safest country in the world.

Hungary joined the European Union in 2004 and has been part of the Schengen Area since 2007. Hungary is a member of the United Nations, NATO, WTO, World Bank, the AIIB, the Council of Europe, the Visegrád Group and more. Well known for its rich cultural history, Hungary has contributed significantly to arts, music, literature, sports and science and technology. Hungary is the 11th most popular country as a tourist destination in Europe, attracting 14.3 million international tourists in 2015. It is home to the largest thermal water cave system and the second largest thermal lake in the world, the largest lake in Central Europe and the largest natural grasslands in Europe.