Switzerland is in world’s top 3 for competitiveness

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(06.07.2022) Once again, the Swiss economy has been recognized for its competitiveness. The country is ranked second, behind Denmark and ahead of Singapore, in the World Competitiveness Ranking by IMD business school in Lausanne.

Since 1989, the Lausanne-based Institute has annually ranked the competitiveness of dozens of economies worldwide. In 2022, some 63 countries and regions were evaluated according to four main criteria: economic performance, government efficiency, business efficiency and infrastructure. Scores are based on a review of official statistical data and opinion surveys conducted by international experts.

For the first time, Denmark has taken the lead in the ranking. This is mainly due to the Scandinavian country's strong overseas investment and excellent business efficiency.

Even though Switzerland has been relegated to second place in the overall ranking, it continues to demonstrate its solid competitiveness. In fact, it is ranked first in the world for "government efficiency" (+1 compared to 2021) and "infrastructure" (same as last year).

In rankings that were dominated by the prosperous states of Western Europe and East Asia, Sweden and the Hong Kong Special Administrative Region rounded out the top five most competitive economies in the world. By contrast, Venezuela, Argentina, Mongolia, South Africa and Brazil are the least competitive of the 63 economies assessed.


Last modification 06.07.2022

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