Switzerland remains the second most competitive country in the world

The competitiveness of Switzerland’s economy has again been ranked second only to that of Hong Kong in IMD business school’s latest world competitiveness ranking.

Hong Kong, Switzerland, Singapore and the United States remain the top four economies in the world, according to the 2017 IMD World Competitiveness Ranking. The list of 63 countries, compiled by the IMD World Competitiveness Center, is based on 260 indicators which include both “hard” data such as national employment and trade statistics, and responses to an executive opinion survey.

Switzerland’s main strengths lie in the resilience of its economy, the flexibility of its labor laws and the utmost quality of its education system. Respondents of the executive opinion survey mentioned policy stability and predictability, skilled workforce and reliable infrastructure as the key attractiveness factors of Switzerland’s economy.

8^th place in the Digital Competitiveness Ranking

For the first time this year, IMD also released a separate Digital Competitiveness Ranking, in which Switzerland gained the 8^th position. It measures the ability of nations and corporations to adopt digital technologies in order to transform government practices, business models and society in general. “Of paramount importance in the digital ranking are issues related to how adaptive and agile economies are when faced with technological change”, report author Arturo Bris explained.