Country Rankings on Global Competitiveness

The IMD World Competitiveness ranks which countries are competitive in terms of enterprises. It covers 65 countries and uses 235 indicators from each of the ranked economies.

There are fours factors which were considered:

1) Economic performance;
2) Government efficiency;
3) Business efficiency; and
4) Infrastructure

The report showed that Singapore is the most competitive economy due to its advanced technological infrastructure, the availability of skilled labor, favorable immigration laws, and efficient ways to set up new businesses. This is followed by Hong Kong SAR, USA, Switzerland, and United Arab Emirates.

Meanwhile, the countries with least economic competitiveness are Venezuela, Mongolia, Argentina, Croatia, and Brazil.