World Competitiveness Ranking
A comprehensive annual report and worldwide reference point on the competitiveness of global economies
A comprehensive annual report and worldwide reference point on the competitiveness of global economies
Why a competitiveness ranking?
An economy’s competitiveness cannot be reduced to just its GDP and productivity; political, social and cultural dimensions are a reality for enterprises, too. Governments play a crucial role, by providing an environment characterized by efficient infrastructure, institutions, and policies that can encourage sustainable value creation on the part of enterprise.
On this premise, 36 years ago the IMD World Competitiveness Ranking was created, in a bid to provide actionable data analysis on economies, regions and sub-regions according to how they optimize their individual competencies in order to achieve long-term value creation for their people. It provides benchmarking and exposes trends, using both statistics and real-world survey data.
The 2024 edition, released in June, provides extensive coverage of 67 global economies and is a worldwide reference on the competitiveness of economies. In 2024, three new economies were added: Ghana, Nigeria and Puerto Rico.
Singapore creating best long-term value, says latest IMD research on competitiveness
Singapore is the most competitive economy out of 67 across the world’s eight major regions. This is a major finding of the2024 IMD World Competitiveness Ranking (WCR), which measures economies with population size and GDP on both ends of the scale.
Switzerland was second and Denmark third, while Nigeria, Ghana, and Puerto Rico made their débuts. The WCR provides these economies with “a timely performance indicator coupling as a unique tool tailored to their specific needs and challenges,” saidArturo Bris, Director of theIMD World Competitiveness Centerwhich produces the yearly ranking.
“It serves as a benchmark for these countries to measure their progress and identify areas for improvement, offering a clear path towards their economic development but also supporting global goals such as the SDGs.”
AI can boost productivity but implementing it is challenging
What are executives’ top three concerns for their businesses? Find out more in this video and also discover whether Denmark held on to its 2023 lead in the highly influential ranking, now in its 36th year of helping policymakers in the public and private sectors alike build roadmaps for greater prosperity for their economies — and their people.
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