Geneva, June 18 (EFECOM).- Singapore took first place from Switzerland in the economic competitiveness index prepared by the IMD business school, in which six of the top ten classified countries are countries from northern and central Europe, while Latin American countries generally continue to lag behind.
The World Competitiveness Ranking index, prepared annually by the IMD World Competitiveness Center, based in Switzerland, was published this Tuesday and measures the capabilities of 67 economies to be competitive, taking into account factors ranging from politics fiscal to business dynamism or innovation, among others.
Singapore, Switzerland, Denmark, Ireland, Hong Kong, Sweden, United Arab Emirates, Taiwan, Netherlands and Norway complete, in this order, the “top ten” of the table, where the United States, in twelfth place, is the country best ranked in America.
According to the business school, the main reasons for Singapore’s rise are its good results in government and business efficiency, which is a reflection of the strength of the public and private sectors.
He also highlights that the presence of countries like Switzerland, in second place, or Denmark, in third, indicates that “small economies” are prospering and that competitiveness is no longer a question of size.
“We believe that the most competitive economies of the future will be those capable of anticipating and adapting to the changing global context, while creating value and well-being for their citizens, which will also make them sustainable,” analyzed the director of the World Competitiveness Center, Arturo Bris, responsible for the index.
He specified that some of the main challenges in competitiveness are the transition to a circular and low-carbon economy, the growing integration of emerging markets into the global economy and the accelerated pace of digital transformation.
The best evaluated Latin American economy is Chile, which appears in 44th place, and in the same region it is followed by Puerto Rico (49), which has entered the ranking for the first time, as well as Nigeria (64) and Ghana (65). ).
Brazil, the largest economy in Latin America, appears in 62nd position, while Mexico, another important economic engine, is in 56th, while Colombia appears in 57th and Peru in 63rd.
Argentina and Venezuela close the list (positions 66 and 67).
On the other hand, the index highlights the growing integration of emerging markets into the global economy with countries such as China, India, Indonesia or Turkey that have experienced rapid growth and development in recent decades.
China appears particularly well positioned, in 14th place, just two behind the United States. EFECOM
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