World Competitiveness Ranking

The World Competitiveness Yearbook (WCY) is a comprehensive annual report and worldwide reference point on the competitiveness of countries

World Competitiveness Ranking

The World Competitiveness Yearbook (WCY) is a comprehensive annual report and worldwide reference point on the competitiveness of countries

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World Competitiveness Ranking

The IMD World Competitiveness Yearbook (WCY), first published in 1989, is a comprehensive annual report and worldwide reference point on the competitiveness of countries. It provides benchmarking and trends, as well as statistics and survey data based on extensive research. It analyzes and ranks countries according to how they manage their competencies to achieve long-term value creation. An economy’s competitiveness cannot be reduced only to GDP and productivity because enterprises also have to cope with political, social and cultural dimensions. Governments therefore need to provide an environment characterized by efficient infrastructures, institutions, and policies that encourage sustainable value creation by enterprises.

The IMD World Competitiveness Rankings emphasize a long-term trend highlighted in past editions – that the countries on the top of the list each have a unique approach to becoming competitive.

The Yearbook provides extensive coverage of 63 economies, chosen based on the availability of comparable international statistics and our collaboration with local Partner Institutes, which contribute to the collection of survey data and ensure that all data are reliable, accurate and as up-to-date as possible. This year, we have the privilege of collaborating with a unique global network of Partner Institutes in 56 countries.

The World Competitiveness Ranking is based on 335 competitiveness criteria selected as a result of comprehensive research using economic literature, international, national, and regional sources, and feedback from the business community, government agencies, and academics. The criteria are revised and updated regularly as new theories, research, and data become available and as the global economy evolves.

World Competitiveness Ranking 2022 Results

‘Sustainability first Denmark’ tops economic competitiveness ranking

The Nordic nation takes the lead for the first time in the IMD World Competitiveness Ranking, which also highlights how inflationary pressures are causing pressing socio-environmental concerns to take a backseat.

β€œDenmark has played extremely aggressively on the sustainability front and benefits from being a small country in the European market,” Professor Arturo Bris, Director of the IMD World Competitiveness Center (WCC), which creates the ranking, explained. β€œOperating within that framework has allowed it to announce aggressive reductions.”

Read the complete article

 

Rankings full list of results
2022
Country
2021
Ranking Change

1

Denmark

3

+2

2

Switzerland

1

-1

3

Singapore

5

+2

4

Sweden

2

-2

5

Hong Kong SAR

7

+2

6

Netherlands

4

-2

7

Taiwan, China

8

+1

8

Finland

11

+3

9

Norway

6

-3

10

USA

10

11

Ireland

13

+2

12

UAE

9

-3

13

Luxembourg

12

-1

14

Canada

14

15

Germany

15

16

Iceland

21

+5

17

China

16

-1

18

Qatar

17

-1

19

Australia

22

+3

20

Austria

19

-1

21

Belgium

24

+3

22

Estonia

26

+4

23

United Kingdom

18

-5

24

Saudi Arabia

32

+8

25

Israel

27

+2

26

Czech Republic

34

+8

27

Korea Rep.

23

-4

28

France

29

+1

29

Lithuania

30

+1

30

Bahrain

new

31

New Zealand

20

-11

32

Malaysia

25

-7

33

Thailand

28

-5

34

Japan

31

-3

35

Latvia

38

+3

36

Spain

39

+3

37

India

43

+6

38

Slovenia

40

+2

39

Hungary

42

+3

40

Cyprus

33

-7

41

Italy

41

42

Portugal

36

-6

43

Kazakhstan

35

-8

44

Indonesia

37

-7

45

Chile

44

-1

46

Croatia

59

+13

47

Greece

46

-1

48

Philippines

52

+4

49

Slovak Republic

50

+1

50

Poland

47

-3

51

Romania

48

-3

52

Turkey

51

-1

53

Bulgaria

53

54

Peru

58

+4

55

Mexico

55

56

Jordan

49

-7

57

Colombia

56

-1

58

Botswana

61

+3

59

Brazil

57

-2

60

South Africa

62

+2

61

Mongolia

60

-1

62

Argentina

63

+1

63

Venezuela

64

+1


Overall and Factor Rankings – Five years
Overall

Country

2018

2019

2020

2021

2022

Argentina

56

61

62

63

62

Australia

19

18

18

22

19

Austria

18

19

16

19

20

Bahrain

30

Belgium

26

27

25

24

21

Botswana

61

58

Brazil

60

59

56

57

59

Bulgaria

48

48

48

53

53

Canada

10

13

8

14

14

Chile

35

42

38

44

45

China

13

14

20

16

17

Colombia

58

52

54

56

57

Croatia

61

60

60

59

46

Cyprus

41

41

30

33

40

Czech Republic

29

33

33

34

26

Denmark

6

8

2

3

1

Estonia

31

35

28

28

22

Finland

16

15

13

11

8

France

28

31

32

29

28

Germany

15

17

17

15

15

Greece

57

58

49

46

47

Hong Kong SAR

2

2

5

7

5

Hungary

47

47

47

42

39

Iceland

24

20

21

21

16

India

44

43

43

43

37

Indonesia

43

32

40

37

44

Ireland

12

7

12

13

11

Israel

21

24

26

27

25

Italy

42

44

44

41

41

Japan

25

30

34

31

34

Jordan

52

57

58

49

56

Kazakhstan

38

34

42

35

43

Korea Rep.

27

28

23

23

27

Latvia

40

40

41

38

35

Lithuania

32

29

31

30

29

Luxembourg

11

12

15

12

13

Malaysia

22

22

27

25

32

Mexico

51

50

53

55

55

Mongolia

62

62

61

60

61

Netherlands

4

6

4

4

6

New Zealand

23

21

22

20

31

Norway

8

11

7

6

9

Peru

54

55

52

58

54

Philippines

50

46

45

52

48

Poland

34

38

39

47

50

Portugal

33

39

37

36

42

Qatar

14

10

14

17

18

Romania

49

49

51

48

51

Saudi Arabia

39

26

24

32

24

Singapore

3

1

1

5

3

Slovak Republic

55

53

57

50

49

Slovenia

37

37

35

40

38

South Africa

53

56

59

62

60

Spain

36

36

36

39

36

Sweden

9

9

6

2

4

Switzerland

5

4

3

1

2

Taiwan, China

17

16

11

8

7

Thailand

30

25

29

28

33

Turkey

46

51

46

51

52

UAE

7

5

9

9

12

United Kingdom

20

23

19

18

23

USA

1

3

10

10

10

Venezuela

63

63

63

64

63

Economic Performance

Country

2018

2019

2020

2021

2022

Argentina

60

61

60

59

57

Australia

19

14

23

19

16

Austria

17

20

15

20

24

Bahrain

39

Belgium

44

37

25

24

14

Botswana

62

60

Brazil

54

57

56

51

48

Bulgaria

28

47

34

41

49

Canada

13

12

10

14

10

Chile

41

48

50

53

50

China

2

2

7

4

4

Colombia

51

50

52

56

45

Croatia

56

55

45

50

32

Cyprus

22

19

13

13

38

Czech Republic

16

17

16

23

18

Denmark

26

26

21

17

13

Estonia

32

44

35

29

33

Finland

43

35

43

34

44

France

30

34

32

28

17

Germany

12

9

5

3

5

Greece

61

60

55

52

51

Hong Kong SAR

9

10

28

30

15

Hungary

39

46

19

8

8

Iceland

57

54

58

55

56

India

21

24

37

37

28

Indonesia

27

25

26

35

42

Ireland

11

6

12

22

7

Israel

37

40

39

36

36

Italy

47

53

42

39

41

Japan

15

16

11

12

20

Jordan

62

62

62

63

62

Kazakhstan

49

45

48

45

58

Korea Rep.

20

27

27

18

22

Latvia

53

52

53

44

54

Lithuania

36

39

33

33

43

Luxembourg

4

4

8

10

1

Malaysia

8

11

9

15

12

Mexico

35

28

38

49

27

Mongolia

48

58

59

58

61

Netherlands

6

13

1

2

19

New Zealand

33

36

40

32

47

Norway

40

32

30

25

25

Peru

55

41

51

60

40

Philippines

50

38

44

57

53

Poland

18

18

29

27

29

Portugal

42

43

41

43

46

Qatar

5

3

6

11

9

Romania

34

49

46

40

55

Saudi Arabia

23

30

20

48

31

Singapore

7

5

3

1

2

Slovak Republic

46

42

49

47

52

Slovenia

29

33

36

31

26

South Africa

59

59

61

61

59

Spain

31

29

31

42

35

Sweden

24

21

22

16

21

Switzerland

25

23

18

7

30

Taiwan, China

14

15

17

6

11

Thailand

10

8

14

21

34

Turkey

52

51

57

46

37

UAE

3

7

4

9

6

United Kingdom

45

22

24

26

23

USA

1

1

2

5

3

Venezuela

63

63

63

64

63

Government Efficiency

Country

2018

2019

2020

2021

2022

Argentina

60

61

63

64

63

Australia

14

13

15

16

16

Austria

32

28

25

29

34

Bahrain

39

Belgium

35

36

35

37

33

Botswana

42

41

Brazil

62

62

61

62

61

Bulgaria

37

42

39

47

49

Canada

9

14

10

15

18

Chile

24

26

20

22

30

China

46

35

37

27

29

Colombia

58

56

56

58

59

Croatia

56

58

59

57

46

Cyprus

28

32

21

25

24

Czech Republic

27

34

36

36

22

Denmark

6

6

4

7

6

Estonia

21

27

19

18

15

Finland

15

17

16

14

10

France

39

48

46

39

40

Germany

19

22

24

23

21

Greece

61

60

52

52

55

Hong Kong SAR

1

1

1

1

2

Hungary

48

45

47

40

37

Iceland

16

15

17

17

14

India

50

46

50

46

45

Indonesia

36

25

31

26

35

Ireland

13

11

13

13

11

Israel

20

30

27

33

32

Italy

53

53

57

55

54

Japan

41

38

41

41

39

Jordan

43

43

45

35

44

Kazakhstan

25

21

29

21

25

Korea Rep.

29

31

28

34

36

Latvia

33

33

32

32

28

Lithuania

31

29

33

31

23

Luxembourg

17

10

12

10

13

Malaysia

23

24

30

30

38

Mexico

54

52

55

59

60

Mongolia

57

59

53

54

57

Netherlands

8

9

11

12

12

New Zealand

7

8

8

11

17

Norway

5

7

6

4

5

Peru

47

49

40

48

52

Philippines

44

41

42

45

48

Poland

40

44

43

56

56

Portugal

34

37

34

38

43

Qatar

10

5

7

6

7

Romania

51

51

49

44

47

Saudi Arabia

30

18

22

24

19

Singapore

3

3

5

5

4

Slovak Republic

55

57

60

51

51

Slovenia

42

39

38

43

42

South Africa

49

50

54

61

53

Spain

38

40

44

49

50

Sweden

11

16

14

9

9

Switzerland

2

4

2

2

1

Taiwan, China

12

12

9

8

8

Thailand

22

20

23

20

31

Turkey

45

55

51

60

58

UAE

4

2

3

3

3

United Kingdom

18

19

18

19

26

USA

26

23

26

28

27

Venezuela

63

63

62

63

62

Business Efficiency
Country
2018
2019
2020
2021
2022

Argentina

49

59

62

63

63

Australia

24

24

21

34

26

Austria

14

17

16

18

18

Bahrain

24

Belgium

23

28

22

20

19

Botswana

61

57

Brazil

50

57

47

49

52

Bulgaria

57

54

53

59

59

Canada

7

16

10

16

13

Chile

26

41

37

40

41

China

15

15

18

17

15

Colombia

56

47

52

51

60

Croatia

62

63

63

64

49

Cyprus

53

52

35

43

44

Czech Republic

32

37

38

41

29

Denmark

3

7

1

1

1

Estonia

27

33

27

31

22

Finland

16

13

13

12

5

France

31

38

43

36

35

Germany

19

26

25

23

21

Greece

59

58

51

44

46

Hong Kong SAR

1

2

2

3

7

Hungary

58

56

59

56

48

Iceland

22

19

15

14

8

India

29

30

32

32

23

Indonesia

35

20

31

25

31

Ireland

10

3

5

11

11

Israel

18

21

26

29

27

Italy

44

42

45

35

34

Japan

36

46

55

48

51

Jordan

35

46

33

33

 45

Kazakhstan

34

29

34

28

32

Korea Rep.

43

34

28

27

33

Latvia

40

43

44

42

37 

Lithuania

30

23

24

30

25

Luxembourg

8

12

17

13

20

Malaysia

17

18

29

24

38

Mexico

48

49

48

47

47

Mongolia

61

61

57

60

61

Netherlands

6

4

4

4

 3

New Zealand

28

22

30

22

 36

Norway

5

8

8

6

 10

Peru

51

55

50

53

53

Philippines

38

32

33

37

39

Poland

37

36

40

57

58

Portugal

33

45

41

38

42

Qatar

13

10

11

15

14

Romania

52

51

54

52

50

Saudi Arabia

45

25

19

26

16

Singapore

11

5

6

9

9

Slovak Republic

60

60

61

55

54

Slovenia

47

40

39

45

43

South Africa

46

44

56

58

56 

Spain

42

39

42

39

40 

Sweden

4

6

3

2

2

Switzerland

9

9

9

5

Taiwan, China

20

14

12

7

6

Thailand

25

27

23

21

30

Turkey

41

48

36

46

55

UAE

2

1

7

8

17

United Kingdom

21

31

20

19

 28

USA

12

11

14

10

12

Venezuela

63

62

60

62

62

Infrastructure

Country

2018

2019

2020

2021

2022

Argentina

47

51

52

56

54

Australia

16

17

18

23

19

Austria

14

11

10

12

10

Bahrain

39

Belgium

20

21

19

19

20

Botswana

63

61

Brazil

52

54

53