AsianScientist (Sep. 8, 2011) – Switzerland tops the overall rankings in The Global Competitiveness Report 2011-2012, released yesterday by the World Economic Forum, and Singapore overtakes Sweden for second position.
The Nordic and Western European countries continue to dominate the top 10, with Sweden (3rd), Finland (4th), Germany (6th), the Netherlands (7th), Denmark (8th), and the United Kingdom (10th).
The United States continued its decline for the third year in a row, falling one more place to fifth position.
Led by Singapore, other Asian Tiger economies continue to make progress in the ranking, with Japan (9th) and Hong Kong SAR (11th) also in the top 20.
Japan experienced a drop in three places since last year, while the People’s Republic of China (26th) improved by one place, solidifying its position among the Top 30. India (56th) experienced small declines.
The Global Competitiveness Report’s competitiveness ranking is based on the Global Competitiveness Index (GCI), which comprises 12 pillars of competitiveness: institutions, infrastructure, macroeconomic environment, health and primary education, higher education and training, goods market efficiency, labor market efficiency, financial market development, technological readiness, market size, business sophistication, and innovation.
The full list can be downloaded here: The Global Competitiveness Index 2011-2012 rankings (PDF, 37 KB).
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Source: World Economic Forum.
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