Switzerland, Singapore and U.S. Most Competitive

World Economic Forum Report 2014-2015

27/10/2014 Barcelona

World Economic Forum Report 2014-2015

Switzerland, Singapore and the United States have been ranked first, second and third in the Global Competitiveness Report 2014-2015. The report evaluates competitiveness in 144 countries and is published by the World Economic Forum. IESE professor Antoni Subirà and researcher Maria Luisa Blázquez have been collaborating members of the World Economic Forum in Spain for the compilation of the report, according to which Spain remains in the 35th place in this edition.

For the sixth consecutive year, Switzerland tops the ranking for its strong innovation results, the transparency of its institutions, the sophistication of its companies and the efficiency of its markets, particularly its labor market. Next is Singapore, which also scores well in markets, innovation and institutional indicators. And rounding out the top three is the United States, which climbs two positions from last year, thanks to strong scores in the innovation category.

The top ten is completed by: Finland in fourth place, followed by Germany, Japan, Hong Kong, Netherlands, United Kingdom and Sweden.

The Global Competitiveness Report is based on 12 pillars: institutions; infrastructure; macroeconomic environment; health and primary education; higher education and training; goods market efficiency; labor market efficiency; financial market development; technological readiness; market size; business sophistication; and innovation.

Three Main Findings

1. Reforming for prosperity: Monetary policy has driven recovery growth so far, but sustained prosperity will require structural reforms to create jobs and secure long-term growth. Progress on structural reforms has been uneven so far, in advanced and emerging economies alike.

2. Smart investing: Smart investments in the development of human capital and innovation are crucial not only to spurring a country's competitiveness, but also to ensuring that everyone can participate in the economic growth. Most countries making the top 10 list are those able to attract, train and retain talent.

3. Public-private collaboration: The private sector plays a key role in improving competitiveness. As such, it needs to increase collaboration with governments and civil society to ensure that the reforms are adequate, efficient and accepted by all.

For more information, see IESE Insight