Researchers from the IMD business school in Lausanne, Switzerland ranked the competitiveness of 57 of the leading economies in the world based on 329 criteria. These criteria come from 2/3 hard statistical data and 1/3 from surveys that are put into four factor categories: economic performance, government efficiency, business efficiency, and infrastructure. Here are the top ten:
2. Hong Kong
What makes these countries more competitive? Developed countries are more competitive due to the fact that their infrastructure is more advanced and their labor force more educated. Furthermore, they are more flexible and find it easier to adapt to the changes in today's rapidly growing and evolving global economy. In conclusion, these countries are better prepared to face economic slowdowns and to overcome economic difficulties.
You can also check out the new "Stress Test," which evaluates which countries are better equipped to survive this economic climate and to improve their competitiveness in the future.