Hong Kong and the US, both scored 100, top the ranking of the latest World Competitiveness Yearbook.
Swiss international business school IMD announces data from the 2011 World Competitiveness Yearbook, which places the US and Hong Kong as the most competitive countries, both slightly ahead of last year’s winner, Singapore. In 2010, the US ranked third, losing the top ranking for the first time in decades.
Also in the rankings, Sweden jumps to the fourth place, highlighting the competitiveness of the Nordic model. Germany shines and gains six ranks to 10th position thanks to buoyant exports and a more flexible labour market. Qatar, Korea and Turkey continue their ascent in competitiveness. The recession highlighted the "resistant" (Switzerland) and the "resilient" (Taiwan). Only four big economies are in the top 20.
"The world of competitiveness becomes more national. ‘World Competitiveness 2.0’ is thus characterised by a greater self-reliance of countries. It increasingly emphasises re-industrialisation, exports, and a more critical look at delocalisation," said IMD Professor Stéphane Garelli, Director of IMD’s World Competitiveness Center.
"This trend is triggered by the rise in commodity and transport prices and higher labour costs in emerging economies. National champions are favoured everywhere and borders re-surface – again!"