Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Portfolio > Economy & Markets > Economic Trends

Top 10 Most Competitive Countries: World Economic Forum Rankings

Your article was successfully shared with the contacts you provided.

A run on watches and chocolates means we’re losing out to Switzerland. The land of perpetual neutrality tops the overall rankings in “The Global Competitiveness Report 2010-2011,” released Thursday, September 9, by the World Economic Forum ahead of its Annual Meeting of the New Champions 2010 in Tianjin, China.

The United States falls two places to fourth position, overtaken by Sweden (second) and Singapore (third), after already ceding the top place to Switzerland last year.

The report notes that “in addition to the macroeconomic imbalances that have been building up over time, there has been a weakening of the United States’ public and private institutions, as well as lingering concerns about the state of its financial markets.”

The Nordic countries continue to be well-positioned in the ranking, with Sweden, Finland (seventh) and Denmark (ninth) among the top 10, and with Norway at 14th. Sweden overtakes the United States and Singapore this year to be placed second overall. The United Kingdom, after falling in the rankings over recent years, moves back up by one place to 12th position.

The People’s Republic of China (27th) continues to lead the way among large developing economies, improving by two more places this year, and solidifying its place among the top 30. Among the three other BRIC economies, Brazil (58th), India (51st) and Russia (63rd) remain stable. Several Asian economies perform strongly, with Japan (sixth) and Hong Kong SAR (11th) also in the top 20. In Latin America, Chile (30th) is the highest ranked country, followed by Panama (53rd) Costa Rica (56th) and Brazil.

“Policy-makers are struggling with ways of managing the present economic challenges while preparing their economies to perform well in a future economic landscape characterized by uncertainty and shifting balances,” said Klaus Schwab, founder and executive chairman of the World Economic Forum, said in a prepared statement. “In such a global economic environment, it is more important than ever for countries to put into place the fundamentals underpinning economic growth and development.”


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.