Saturday, September 8, 2012

WORD ECONOMIC FORUM: Sweden number four in Global Competitiveness

From: http://www.weforum.org/news/persisting-divides-global-competitiveness-switzerland-singapore-and-finland-top-competitiveness

Oliver Cann, Associate Director, Media, Tel.: +41 (0)79 799 3405 oliver.cann@weforum.org
  • Competitiveness gap widening among European countries
  • US remains world’s innovation powerhouse despite decline in overall ranking
  • People’s Republic of China most competitive among large emerging markets; India, Russia fall
  • Download the full report profiling 144 economies, highlights, rankings and more at http://www.weforum.org/gcr
  • Watch the video interviews on the results of the report
Geneva, Switzerland, 5 September 2012 – Switzerland, for the fourth consecutive year, tops the overall rankings in The Global Competitiveness Report 2012-2013, released today by the World Economic Forum. Singapore remains in second position and Finland in third position, overtaking Sweden (4th). These and other Northern and Western European countries dominate the top 10 with the Netherlands (5th), Germany (6th) and United Kingdom (8th). The United States (7th), Hong Kong (9th) and Japan (10th) complete the ranking of the top 10 most competitive economies.
The large emerging market economies (BRICS) display different performances. Despite a slight decline in the rankings of three places, the People’s Republic of China (29th) continues to lead the group. Of the others, only Brazil (48th) moves up this year, with South Africa (52nd), India (59th) and Russia (67th) experiencing small declines in rankings.Despite growing its overall competitiveness score, the United States continues its decline for the fourth year in a row, falling two more places to seventh position. In addition to the burgeoning macroeconomic vulnerabilities, some aspects of the country’s institutional environment continue to raise concern among business leaders, particularly the low public trust in politicians and a perceived lack of government efficiency. On a more positive note, the country still remains a global innovation powerhouse and its markets work efficiently.The report indicates that Switzerland and countries in Northern Europe have been consolidating their strong competitiveness positions since the financial and economic downturn in 2008. On the other hand, countries in Southern Europe, i.e. Portugal (49th), Spain (36th), Italy (42nd) and particularly Greece (96th) continue to suffer from competitiveness weaknesses in terms of macroeconomic imbalances, poor access to financing, rigid labour markets and an innovation deficit.

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