IMD, a top-ranked global business school based in Switzerland, today announced its annual world competitiveness ranking. As part of its ranking of 60 economies for 2014, the IMD World Competitiveness Center also looks at perceptions of each country as a place to do business.
of the 2014 ranking
The US retains the No. 1 spot in 2014, reflecting the resilience of its economy, better employment numbers, and its dominance in technology and infrastructure.
There are no big changes among the top ten. Small
economies such as Switzerland (2), Singapore (3) and Hong Kong (4) continue to prosper thanks to exports, business
efficiency and innovation. Europe fares better than last year, thanks to its
gradual economic recovery. Denmark
(9) enters the top ten, joining Switzerland,
Sweden (5), Germany (6) and Norway
(10). Although Finland is behind its
Nordic neighbors, the country rises in this years ranking (18). Among Europe’s
peripheral economies, Ireland (15), Spain (39) and Portugal (43) all rise, while Italy
(46) and Greece (57) fall.
Japan (21) continues to climb in the rankings, helped by a weaker currency that has improved its competitiveness abroad. Elsewhere in Asia, both Malaysia (12) and Indonesia (37) make gains, while Thailand (29) falls amid political uncertainty.
Most big emerging markets slide in the rankings as economic growth and foreign investment slow and infrastructure remains inadequate. China (23) falls, partly owing to concerns about its business environment, while India (44) and Brazil (54) suffer from inefficient labor markets and ineffective business management. Turkey (40), Mexico (41), the Philippines (42) and Peru (50) also fall.
Professor Arturo Bris, director of the IMD World Competitiveness Center, says:
– The overall competitiveness story for 2014 is one of continued success in the US, partial recovery in Europe, and struggles for some large emerging markets. There is no single recipe for a country to climb the competitiveness rankings, and much depends on the local context.
of perception: Countries’ images abroad
Seven of the top 10 countries in the overall ranking for 2014 are also in the top 10 for having an image abroad that encourages business development, according to an exclusive IMD survey of executives based in each of these countries. In general there is a strong correlation between a country’s overall competitiveness ranking and its international image as a place to do business (see second table below).
Executives in Singapore are most bullish on their country’s overseas image, while Ireland, Chile, Qatar and South Korea are all far higher on this criterion than in the overall ranking. By contrast, executives in the US, France, Taiwan and Poland are far gloomier about their countries’ international images. The US results may reflect international conflicts and domestic political gridlock, while perceptions of France continue to be colored by slow reforms and the country’s negative attitudes toward globalization.
– While economic performance changes from year to year, perceptions are longer-term and shift more gradually. They can also lead to a virtuous circle of better image and better economic performance. So how executives feel their country is being perceived is a potentially useful guide to future competitiveness developments there, says Professor Arturo Bris at IMD.
The IMD World Competitiveness Yearbook measures how well countries manage all their resources and competencies to increase their prosperity. The overall ranking released today reflects more than 300 criteria, two-thirds of which are based on statistical indicators and one-third on an exclusive IMD survey of 4,300 international executives.
Country profile Finland:
The charts for the World Competitiveness Ranking 2014 and country profiles can be downloaded from www.worldcompetitiveness.com/press
Sveitsissä toimiva IMD sijoittuu jatkuvasti maailman liiketalouskoulujen kärkeen. IMD:llä on yli 60 vuoden kokemus, ja sen johtamiskoulutus perustuu todelliseen maailmaan ja todelliseen oppimiseen. IMD tarjoaa uraauurtavia ja yhteistoiminnallisia ratkaisuja asiakkaidensa kohtaamiin haasteisiin. Näkökulmamme on kansainvälinen – ymmärrämme, miten monimutkainen globaali ympäristö on. IMD:n tehokkaiden johtamisoppien ja johtajuuden kehittämistapojen ansiosta osanottajat oppivat enemmän, saavuttavat enemmän ja ovat jotakin enemmän (www.imd.ch).
IMD on rankattu parhaaksi Yhdysvaltain ulkopuoliseksi ja maailmanlaajuisesti toiseksi parhaaksi johtamiskoulutukseksi (Financial Times, 2008–2010). IMD:n MBA-ohjelma on rankattu toiseksi parhaaksi Euroopassa (The Economist, 2010).