The World Economic Forum Global Competitiveness Index 2013-14, published yesterday, has the following top 10 ranking:
1. Switzerland
2. Singapore
3. Finland
4. Germany
5. United States
6. Sweden
7. Hong Kong SAR
8. Netherlands
9. Japan
10. United Kingdom
Britain's position in the "Country Profile Highlights" is described thus:
"The United Kingdom (10th) rounds out the top 10, falling by two places in this year’s assessment. The country deteriorates slightly in several areas, most notably its macroeconomic environment and its financial markets. Overall, the United Kingdom benefits from clear strengths such as the efficiency of its labor market (5th), in sharp contrast to the rigidity of those of many other European countries. The country continues to have sophisticated (9th) and innovative (12th) businesses that are highly adept at harnessing the latest technologies for productivity improvements and operating in a very large market (it is ranked 6th for market size). The highly developed financial market also remains a strength overall, despite some weakening since last year. All these characteristics are important for spurring productivity enhancements. On the other hand, the country’s macroeconomic environment (115th, down from 85th two years ago) represents the greatest drag on its competitiveness, with a fiscal deficit above 8 percent in 2012, an increase of over 7 percentage points in public debt amounting to 90.3 percent of GDP in 2012 (136th), and a comparatively low national savings rate (10.8 percent of GDP in 2012, 122nd)."
The full report is available at http://reports.weforum.org/the-global-competitiveness-report-2013-2014
1. Switzerland
2. Singapore
3. Finland
4. Germany
5. United States
6. Sweden
7. Hong Kong SAR
8. Netherlands
9. Japan
10. United Kingdom
Britain's position in the "Country Profile Highlights" is described thus:
"The United Kingdom (10th) rounds out the top 10, falling by two places in this year’s assessment. The country deteriorates slightly in several areas, most notably its macroeconomic environment and its financial markets. Overall, the United Kingdom benefits from clear strengths such as the efficiency of its labor market (5th), in sharp contrast to the rigidity of those of many other European countries. The country continues to have sophisticated (9th) and innovative (12th) businesses that are highly adept at harnessing the latest technologies for productivity improvements and operating in a very large market (it is ranked 6th for market size). The highly developed financial market also remains a strength overall, despite some weakening since last year. All these characteristics are important for spurring productivity enhancements. On the other hand, the country’s macroeconomic environment (115th, down from 85th two years ago) represents the greatest drag on its competitiveness, with a fiscal deficit above 8 percent in 2012, an increase of over 7 percentage points in public debt amounting to 90.3 percent of GDP in 2012 (136th), and a comparatively low national savings rate (10.8 percent of GDP in 2012, 122nd)."
The full report is available at http://reports.weforum.org/the-global-competitiveness-report-2013-2014
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