To function in global business, managers require global business knowledge and skills to deal with cultural differences. Business schools must develop the global business literacy of their students, but it is not clear what factors determine the dimensions of global business literacy and what role country differences play. This study compares the global business literacy of business students in four Central European countries and the U.S.A. Besides testing country differences, it applies regression analysis to determine whether these differences can be explained. The Central European students score higher in self-efficacy and international business knowledge than Americans, which differences can be explained by international course work, study abroad, foreign language competence, and interactions with foreigners. There are no significant differences in willingness to learn and American students are better in relationship development. It appears that while most dimensions of global business literacy can be developed universally, some dimensions require culture-specific approaches.