Nordic countries: all top-ten competitive economies

European countries facilitate the most competitive economies in the world. Singapore ranks at number 13.

Every year, the World Competitiveness Center at the Swiss business school IMD published its ranking on the competitiveness of countries. This year, Denmark takes second place, Finland 5th, Norway 7th, and Sweden gets in at 9th. Europe dominates the top-ten 2017 list, but in top-fifteen both Hong Kong and Singapore are to be found, at respectively 12th and 13th place.

The ranking is based on the countries’ performances in three key categories: investment and development, appeal, and workforce readiness.

Competitiveness of a nation is a field of economic knowledge, which analyzes the facts and policies that shape the ability of a nation to create and maintain an environment that sustains more value creation for its enterprises and therefore its people. WCY divides national environments into four main factors: economic performance, government efficiency, business efficiency and infrastructure.

Some nations support competitiveness more than others by creating an environment that facilitates the competitiveness of enterprises and encourages long-term sustainability.

At the very top Switzerland takes first place. The other European countries in top-ten are: Belgium (3), Austria (4), The Netherlands (6), Germany (8), and Luxembourg (10).

Source: IMD

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