Switzerland stays in the global top 3 for competitiveness
(03.07.2024) The Swiss economy has moved up one spot in the global competitiveness rankings. Switzerland now holds the second position in the 2024 World Competitiveness Ranking by the IMD Business School in Lausanne, just behind Singapore and ahead of Denmark.
Since 1989, the Lausanne Institute has annually assessed the competitiveness of several dozen economies worldwide. In 2024, around 67 countries and administrative entities were evaluated based on four main criteria: economic performance, government efficiency, business efficiency, and infrastructure.
In 2024, Singapore tops the ranking, having risen from 4th place the previous year. IMD experts noted improvements in its business efficiency (2nd, up 6 places) and government efficiency (2nd, up 5 places). However, Singapore remains just below the top three in infrastructure (4th, up 5 places). Denmark and Ireland ranked 1st and 2nd respectively in 2023, dropped two places mainly due to a decline in their economic performance.
Switzerland continues to benefit from the efficiency of its public policies (1st) and the quality of its infrastructure (1st). The country has regained the 2nd place it lost to Ireland in 2023 but has yet to reclaim the 1st position it held in 2021. Internationally, Switzerland’s economic performance has improved since 2022, moving from 30th place in 2022 to 12th in 2024. However, this progress has not been enough to place it in the global "top 10."
In this ranking dominated by the prosperous economies of Western Europe and East Asia, Hong Kong (SAR) completes the top five, followed by Sweden and the United Arab Emirates. Venezuela, Argentina, and Ghana occupy the bottom three positions.