2010-09-09
Sweden overtakes the US and Singapore this year to be placed 2nd overall in the overall ranking in The Global Competitiveness Report 2010-2011 released by the World Economic Forum. Switzerland tops the ranking, while the United States falls two places to fourth position. Singapore comes 3rd.
The other Nordic countries continue to be well positioned in the ranking, with Finland (7th) and Denmark (9th) among the top 10, and with Norway at 14th. The United Kingdom, after falling in the rankings over recent years, moves back up by one place to 12th position.
The Global Competitiveness Report’s competitiveness ranking is based on the Global Competitiveness Index (GCI), developed for the World Economic Forum by Sala-i-Martin and introduced in 2004. The GCI is based on 12 pillars of competitiveness, providing a comprehensive picture of the competitiveness landscape in countries around the world at all stages of development. The pillars are: institutions, infrastructure, macroeconomic environment, health and primary education, higher education and training, goods market efficiency, labour market efficiency, financial market development, technological readiness, market size, business sophistication, and innovation.
The rankings are calculated from both publicly available data and the Executive Opinion Survey, comprehensive annual survey conducted by the World Economic Forum together with its network of Partner Institutes (leading research institutes and business organizations) in the countries covered by the study. This year, over 13,500 business leaders were polled in 139 economies. The survey is designed to capture a broad range of factors affecting an economy’s business climate. The report also includes comprehensive listings of the main strengths and weaknesses of countries, making it possible to identify key priorities for policy reform.
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Video interview with Jennifer Blanke, Lead Economist Director