World Competitiveness Rating IMD

Review of the best according to the editors. About the selection criteria. The the material is subjective, is not advertising and is not serves as a guide to the purchase. Before purchase is needed consultation with a specialist.

The competitiveness rating of the countries of the world is an indicator that Institute of Management annually counts (IDM – Institute of Management Development), located in the Swiss city of Lausanne. A place in it shows how each country can create conditions for the development of a competitive business international scene.

333 criteria are used to build the rating, characterizing the state of the economy of the state, efficiency government action, the state of the business environment and infrastructure. Both statistics and opinions are used for the assessment. experts and reviews of businessmen. Each year, the position of countries in the ranking change, this is given a detailed justification.

World Competitiveness Rating IMD

Nomination a place Country rating
World Competitiveness Rating IMD 1 Singapore 5.0
2 USA 4.9
3 Hong Kong 4.8
4 Netherlands 4.7
5 Switzerland 4.6
6 Japan 4.5
7 Germany 4.4
8 Sweden 4.3
9 Great Britain 4.2
10 Denmark 4.1
11 Finland 4.0
12 Taiwan 3.9
13 South Korea 3.8
14 Canada 3.7
15 France 3.6

1st place: Singapore

Rating: 5.0

Singapore

Singapore Leads in Rating – Small Island State South-East Asia. This is a country with a developed market economy and high – about 26 thousand dollars – runway per capita. Wealth is maintained through the export of electronics, information technology, financial services and pharmaceuticals.

In 1965, after gaining independence from the Malay federation, Singapore was a very poor and corrupt country. IN the republic lacked its own production, even fresh water and construction sand were imported from Malaysia. The first the president of the island nation, Lee Kuan Yew, began active attracting investors, convinced people who showed interest in Singapore, open your business there.

Economic freedom, lack of protectionism protecting inefficient enterprises allowed Singapore to achieve high growth rate of national welfare – at different times in limits of 2-7% per year. The republic is referred to as the “Asian tigers” – Eastern countries that quickly jumped from the poor developing to developed.

2nd place: USA

Rating: 4.9

USA

United States of America – the richest country in the world, power which accounts for almost a quarter of world GDP. The economic structure is typically post-industrial, most the product is created in the service sector – primarily education and science, medicine, transport, government and other services. By this almost 80% of GDP belongs to the sectors, industry accounts for 20% and less than 1% – agriculture.

Of some importance to the economic welfare of the United States is that the american dollar is the main reserve currency of the world. This allows the country to save on conversion, as well as take loan money in capital markets at low rates due to high dollar liquidity. On the other hand, there are negative effects. – competitiveness decreases due to high exchange rate American exporters.

An important competitive advantage of the United States economy is its transparency. US government publishes many freely available reports on its various indicators. Openness data for various companies allows investors to take more the right economic decisions.

3rd place: Hong Kong

Rating: 4.8

Hong Kong

Hong Kong is an autonomous region within China. Since 1841 was a colony of Britain that declared it a free zone trade – this was facilitated by a favorable geographical position. In 1997, Hong Kong was transferred back to China, but retained high degree of autonomy in accordance with the course “one country – two systems. “It has its own currency – the Hong Kong dollar.

Hong Kong’s economy is one of the most pronounced liberal market. The government intervenes very weakly in business, no exchange control, no obstacles for foreign investment. Banks operate freely – in the region More than 250 banking institutions have been opened.

Hong Kong has developed both the service sector and industry. Important the role is played by the production of clothing and fabrics, accounting for 30% export, second place in sales abroad is electronics. Hong Kong is one of the largest financial centers in the world. Also tourism is developed – the region is visited by more than 10 million people in year.

4th place: Netherlands

Rating: 4.7

Netherlands

Among European countries in the lead in competitiveness Netherlands. The economy here is focused on other countries, important transport and trade play a role in it – this contributes to position in the center of Europe.

Due to the high rate of economic freedom, favorable entrepreneurial atmosphere and a lot of highly qualified specialists many European companies place industrial production in the Netherlands. Leading industries – gas and oil production, metallurgy, electrical engineering and household chemicals.

Of great importance for the economy of the Netherlands is tourism – a country visited by more than 10 million tourists a year. Most often visited by two of the twelve provinces – North and South Holland. Name Holland has attached itself to the whole country, but recently the Netherlands from he was officially abandoned in order to reduce “congestion” tourists in these provinces and let people know that in other parts States have something to visit.

5th place: Switzerland

Rating: 4.6

Switzerland

Swiss Confederation – the banking “heart” of Europe, economy it is largely based on the turnover of foreign financial capital. This is one of the most stable countries in the world, which in for several centuries did not participate in wars.

The Confederation has a favorable climate for small and large business. The state minimally intervenes in the work of enterprises, the needs of people are satisfied free market. Almost no unemployment. In addition to banking, Swiss watch industry is of global importance.

Three quarters of working Swiss are employed in tourism services. Holidays in this country are quite expensive, but there are still a lot of people who want to visit alpine resorts. Tourist business is one of the key factors in enriching the country and providing high standard of living of the population.

6th place: Japan

Rating: 4.5

Japan

Japan – one of the “Asian tigers”, a country that since the 60s years of the XX century increased its GDP by more than 60 times. It happened due to increased exports – cheap Japanese goods like Chinese products today, flooded the western market somewhat decades ago. To stop this process, the US and European countries persuaded Japan to raise the yen, and prices for its brands markedly increased.

The main export items are vehicles and electronics. Particularly valued are Japanese cars, which make up 40% of all sales abroad. At the same time, Japan is forced to import natural resources, which are very few in its own territory. Respect for natural wealth was characteristic of Japanese in past centuries.

Now, when exporting, Japan focuses on product quality, not mass sales of cheap things. The country is aimed at the market high technology – robots, optics, electronics. Also japan plans to expand sales abroad of expensive and dietary food products – valuable varieties of fish, specific desserts.

7th place: Germany

Rating: 4.4

Germany

A feature of Germany is the social market organization of the economy. This means that a fairly high freedom is maintained. entrepreneurship, but the state does not forget about social security of the population – the cost of this is rather high tax burden. Unions and employers perceive each other as partners, and not as warring strength.

Germany is characterized by “Rhine capitalism,” in which banks are shareholders of enterprises and influence adoption business decisions, with a significant impact. A large share in the economy industry occupies – its role is higher than in other developed countries where the service sector leads.

The German economy is clearly export oriented. The most important trading partners are France, other EU countries, Great Britain, USA, China, Russia. The country is constantly expanding its presence on the world market at a rate of several percent in year.

The problems of Germany are primarily economic integration of the eastern part of the country, the former GDR. To the decision difficulties associated with this, the federal government highlights 100 million dollars a year.

8th place: Sweden

Rating: 4.3

Sweden

Many consider Sweden’s economy to be socialist; for others, she is an example of “capitalism with a human face.” The country has absolutely low public debt and low inflation, stable banking system.

In the early 1990s, Sweden began a crisis during which there was a rapid depreciation of the national currency, growth budget spending and an increase in the number of unemployed. To exit this the “ceiling” of government spending was set, allowing you to maintain a budget surplus. Thanks to this reduce taxes on enterprises and the population, while not refusing from social programs.

Sweden has a liberal approach to international trade. The country is focused on exporting a wide range of goods and maintains a surplus. Now big the economic role is played by the field of information technology and telecommunications. In Sweden, not only large enterprises – on the contrary, there are good conditions for small IT startups.

Despite the fact that one of the important economic nodes is Stockholm, the level of well-being is not very markedly different in the center of the country and the periphery. Even the poorest corners of Sweden have higher standard of living than the European average.

9th place: United Kingdom

Rating: 4.2

Great Britain

In the UK, which was in deep decline after World War II, beginning in the 80s, the rapid the economic growth. The massive privatization helped, as well country entry into the EU. The state invested in raising quality of education and workforce qualifications.

Services Leader in UK by Number of Jobs – Two thirds of the working population are employed in it. IN one fifth of the industry works. The rest either have their own business, either employed in government or the military sector.

Unlike many other western countries, the UK itself provides itself with oil and coal. These fossils play some role in export. However, in general, there are few natural riches here; the contribution to the welfare of the British is negligible. Iron ore to For example, they stopped mining at all in order to preserve the remaining stocks.

Brexit, the movement to which began in 2016, has not yet had time entail serious consequences for the British economy. It is assumed that the free trade area will be maintained in for several years after Britain left the EU.

10th place: Denmark

Rating: 4.1

Denmark

Denmark is a country that maintains industrial and agricultural the economy. At the beginning of this century in agriculture was busy one fifth of the working age population – now due to enlargement farms in this sector remained only 6%. Industry takes 40% in national income. The country has one of the most stable economic systems in Europe and one of the most stable currencies – Danish krone.

Denmark is a world leader in terms of foreign trade turnover per capita. Export earnings account for 50% of GDP. Abroad food is supplied – sea fish, Danish products livestock (meat and milk), as well as industrial and agricultural equipment, tools, furniture, medicines. An interesting export article is Christmas trees growing in artificially planted forests.

On the labor market, an agreement between employers and unions. The Danish approach here is characterized by the word “flexicurity” – from a combination of flexibility (security) and security (security). The system is called the Golden Triangle. First his side is the employer’s ability to lay off and hire employees as needed, the second – cash assistance job loss, the third – training and assistance in finding employment unemployed.

The disadvantages of the Danish economic system are high taxes, decrease in competitiveness in the foreign market due to high the crown, the high cost of essential goods and housing. Cars are especially expensive here – several times more price than in neighboring European countries.

11th place: Finland

Rating: 4.0

Finland

Finland has a predominantly post-industrial economy, 70% of the population is employed in the service sector. Characteristic for the country economic and political stability. Competitive the advantage is the close interaction between educational institutions, scientific and technical centers and enterprises.

The leading industries include forestry. Finland receives a significant income from the sale of timber abroad, also in Other countries supplied paper. Another export item is digital electronics, including Nokia phones. Overall external trade accounts for about 40% of Finnish GDP. Contribution to Welfare the tourism industry also contributes.

The disadvantages of the Finnish economic system include high taxes. For example, personal income tax may reach 35%. However, in return, the Finns receive a free education, allowing even a poor family to become highly qualified specialist, as well as free medicine and other social benefits.

12th place: Taiwan

Rating: 3.9

Taiwan

Taiwan is a country with a dynamically developing capitalist the economy. It is characterized by a gradual decrease in control with parties to the state, privatization of banks and industrial enterprises. Taiwan was predominantly agricultural in the last century. country, then the agricultural sector shrank and a rapid industrialization.

Among the industries that generate a large income from export, we can distinguish the cotton industry, which dominated here in the middle of the last century, as well as production building materials, aluminum, steel and glass. Food developed industry – fish are produced and delivered abroad canned food, seafood. From agricultural products fruits and vegetables that grow well in warm are exported climate.

Like many other economically successful countries, Taiwan supplies electronics abroad. Computer made here spare parts, as well as printers – at the end of the last century, most These devices came from here. Role is increasing mechanical engineering.

Taiwan’s Weakness – Dependence on Natural Supplies resources, primarily energy – oil and gas. Country seeks transition to hydropower, but now it’s not satisfies all needs, and is unlikely to become in the future.

13th place: South Korea

Rating: 3.8

South Korea

Republic of Korea – Leaping from Extreme Poverty to tremendous wealth in just a few decades. In 1953, when the South Korean state began, it was one of the poorest in the world, even behind many in terms of GDP African countries. Now it is one of the richest and most prosperous. East Asian states.

South Korea for several years ranks first in Bloomberg Innovation Index – an indicator of what role the country’s economy is played by innovation. Patent is very active here. activities, especially in the field of electronics and other high technologies. “The export of these technologies abroad is one of the main articles of income of the republic.

Korea’s openness to international trade and export orientation is considered the main reason for the rapid economic growth. Coma Electronics, Korea supplies overseas cosmetics and medicines, encourages “medical tourism” – visit countries for certain procedures and operations, including plastic ones. Foreigners visit the republic for other reasons, There are more tourists here every year.

14th place: Canada

Rating: 3.7

Canada

One of the main factors favorable for the Canadian economy is proximity to the USA. With the United States, the country has many contracts facilitating trade and travel. It is in the USA three out of four Canadian exports.

Like the US, the Canadian economy is geared towards free market. The service sector is the leader in ensuring employment – in 70% of citizens work for it. A quarter are employed in industry – manufacture of aircraft, trains, and other vehicles tools, electronics. The territory of Canada is rich in useful fossils that are not only enough for domestic needs, but also for deliveries abroad. This is especially true for energy – gas, oil, coal – which are exported to the United States.

Canada is the second largest country in the world due to its sheer size Territories economic development in its different parts is uneven. Most cities and populations are located in the south, along American border. There are territories in the north where For the most part, Aborigines live, not Europeans, and lead traditional lifestyle, surviving mainly due to fish catching.

15th place: France

Rating: 3.6

France

France is located in the center of Western Europe. Great importance for the country’s economy has access to Atlantic trade routes and The Mediterranean Sea. Economic weight allows French the state to play one of the key roles in EU policy and all over the world.

France is currently witnessing a transition of nationalization to privatization, however, the state’s presence in the economy is still then quite noticeable. The country combines capitalist traits with laws that support the social sphere and reduce income inequality.

One of the main sources of wealth for France is tourism. it the most visited country in the world, hosting over 75 million tourists every year. Here the most developed in Europe is created. railway network used by both the French and residents and companies from neighboring countries.

State intervention in the economy includes planning. However, unlike the socialist states, it serves rather benchmark and indicator for development, and does not set mandatory compliance with standards. This policy is sometimes called “economic Conducting “- the state acts as a” conductor “for “orchestra” of private companies.


Attention! This rating is subjective, not advertising and does not serve as a guide to the purchase. Before the purchase consultation with a specialist is necessary.

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