Non-EU member Switzerland remains the world’s most competitive economy after the World Economic Forum (WEF) released its annual Global Competitiveness study of the world’s most competitive economies this week…
New EU member Croatia has dropped two spots since joining the bloc, falling from 75th to 77th place on the list. The report suggests that for Croatia to improve its ranking it must continue to strengthen its institutional framework and promote market efficient goods and services. Croatia’s neighbours Hungary were ranked 60th, whilst Macedonia (63rd), Montenegro (67th) and Slovenia (70th) were all ranked above Croatia. Serbia were in 94th spot and Bosnia and Herzegovina were in 87th.
Switzerland’s innovation, efficiency, and macroeconomic stability saw it retain number one spot for the sixth year in a row, whilst Singapore were in second spot, followed by USA in third.
Rankings are based on data in 12 categories which include infrastructure, health and education, an efficient labor market, and technological development.
Top 10 Most Competitive Economies
7. Hong Kong
9. United Kingdom