Switzerland is world’s most competitive economy
Switzerland is number one in The Global Competitiveness Report for the first
time, reflecting the country’s sound institutional environment, excellent
infrastructure, efficient markets and high levels of technological innovation.
The country has a well developed infrastructure for scientific research,
companies spend generously on R&D, intellectual property protection is strong
and the country’s public institutions are transparent and stable.
“The top ranking of Switzerland nicely shows that good institutions and
competent macroeconomic management, coupled with world-class educational
attainment and a focus on technology and innovation, are a successful strategy
for boosting competitiveness in an increasingly complex global economy. Business
activity in these countries benefits from a well-developed institutional
framework, characterized by the rule of law, an efficient judicial system and
high levels of transparency and accountability within public institutions.
Excellent infrastructure is an additional positive feature of the business
environment. Our indicators point to the rapidly growing importance of higher
education and training as engines of productivity growth. Countries that, like
the Nordics, are investing heavily in education are likely to see rising levels
of income per capita, growing success in reducing poverty and an increasing
ability to establish a presence in the global economy,” said Augusto
Lopez-Claros, Chief Economist and Director of the
World Economic Forum’s Global Competitiveness Network.
The rankings are drawn from a combination of publicly available hard data and
the results of the Executive Opinion Survey, a 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 Report. This year, over 11,000 business leaders were
polled in a record 125 economies worldwide. The survey questionnaire is designed
to capture a broad range of factors affecting an economy’s business climate that
are critical determinants of sustained economic growth. The Forum annually
delivers a comprehensive overview of the main strengths and weaknesses in a
large number of countries, making it possible to identify key areas for policy
formulation and reform. |
