Each year, experts from the Institute for Management Development, one of the most prestigious business schools in the world, compile the Yearbook of World Competitiveness. According to economists, the country's competitiveness is a key factor in its long-term economic power, as it allows companies to achieve sustainable growth, create jobs and, ultimately, improve the welfare of the population.

IMD Research Methodology

The ranking in the list, which includes 63 countries of the world, “consists” of a wide range of statistical data, such as:

• unemployment;
• GDP
• government spending on medicine and education;
• as well as the results of an international survey of company executives on topics such as social cohesion, globalization and corruption.

Then, experts divide the information received into four categories:

1. economic indicators;
2. infrastructure;
3. government effectiveness;
4. business performance.

And, having studied the points scored in each category, they give a final rating for each country.

World countries competitiveness rating 2019

10 most competitive countries in the world in 2019

We present you the ten most competitive countries in the world in 2019. The rating will be relevant in 2020, too, until IMD draws up a new list.

10. Qatar

This country entered the top 10 for the first time since 2013. In a category such as “economic indicators”, which measures the competitive advantages of the domestic economy and its macroeconomic indicators, Qatar is in third place, and fifth in “government efficiency”. Whereas a year earlier, for the same indicators, he occupied only 5th and 10th places, respectively.

9. Sweden

In 2019, Sweden did not pass, but did not improve its position in the ranking of the most competitive countries. She is steadily gaining high points in the provision of technological and human resources for business. And in terms of infrastructure, it follows its neighbor Denmark, settling in fourth place.

8. Denmark

The country of Hamlet and the little mermaid fell 2 positions down compared to the rating of 2018. But, despite its decline, Denmark nevertheless took third place in terms of such an indicator as infrastructure, losing two first places to the USA and Switzerland.

7. Ireland

In one fell swoop, this "high jumper" overcame five places and climbed to seventh position in the list of the most competitive countries in the world. This was made possible thanks to the strengthening of the Irish economy and, consequently, improved business conditions.

According to IMD, Ireland has become a global leader in areas such as investment promotion, public sector contract processing, image, branding and talent management.

6. The Netherlands

This is one of the main European areas for enterprises and individuals who are attracted to a stable and predictable political environment.

The country is characterized by a large number of skilled labor and transparent access to European capital, which attracts a significant amount of foreign investment.

However, in the Netherlands, as in all other European markets, there is serious uncertainty surrounding Brexit and how this will affect the value of the euro and trade with the UK.

5. United Arab Emirates

UAE for the first time entered the top five due to increased productivity and entrepreneurial activity. In last year's top 10 competitiveness, the UAE countries occupied only 7th place.

4. Switzerland

Wilhelm Tell’s homeland continues to “receive dividends” from economic growth, the stability of the Swiss franc and good quality infrastructure, having improved its rating by one position compared to 2018.

3. USA

Rising fuel prices, declining high-tech exports and fluctuations in the value of the dollar against the backdrop of the ongoing trade war with China led to a downgrade in the US However, America still has no equal in the dynamism of business, in addition, it is one of the three countries leading in innovative opportunities.

These two factors have always been the key to the success of the US economy and have made it the second most competitive economy in the world.

2. Hong Kong

The special administrative region of China took second place in the ranking of countries' competitiveness, as in the past year. His presence in the top three was due to favorable fiscal and business policies.

At the same time, Hong Kong retained first place by the criterion of “government efficiency”, took second place by “business efficiency”, 10th by “economic efficiency” and 22nd by “infrastructure”.

Commenting on the results of the IMD rating, a representative of the Hong Kong government said that "in the face of intense competition between the global economies, we must continue to consolidate our prevailing competitive advantages, including an open and free market, an efficient public sector and a favorable business environment with an equal playing field."

1. Singapore

For the first time in 9 years, Singapore ranked the countries' competitiveness rating in Singapore, which overthrew Hong Kong and the United States in the fight for first place. In 2018, the city-state got only the third place.

IMD experts explained Singapore's leadership by its developed technological infrastructure, a large number of skilled workers, friendly immigration laws and effective business opportunities.

Good in Singapore, not only for adult businessmen, but also for children. For the second year in a row, Save The Children, a non-governmental organization, has named Singapore the best place in the world for children. The report said that Singapore has the lowest level of extracurricular activities in the world - 0.1 percent, and a child mortality rate of 2.8 for every 1000 births.

Russia's place in the IMD study

Compared to 2018, Russia did not surrender, but did not improve its position in 2019, remaining in 45th place on the list, between Italy and the Philippines, and far ahead of Ukraine (54th place).

However, if you look at the past years, we will see that our country is gradually improving its competitiveness. For example, in 2014, her rating corresponded to 53rd place.

And Venezuela remains the most uncompetitive country in the world, which suffers from high inflation, difficult access to credit and a weak economy.

Watch the video: The IMD World Competitiveness Center releases its 2019 World Competitiveness results (November 2024).