IMD World Competitiveness Rankings 2019
The IMD World Competitiveness Rankings are released by the IMD Business School evaluate countries on their ability to foster an environment where enterprises can achieve sustainable growth, generate jobs and increase welfare for its citizens.
It takes into account 235 indicators with a wide range of statistics such as unemployment, GDP and government spending on health and education, as well as data from an executive opinion survey covering topics such as social cohesion, globalisation and corruption.
World Competitiveness Rankings 2019
- Singapore has topped the rankings in 2019 from the third position last year.
- The US has slipped to third place in the 2019 edition.
- Hong Kong SAR has held onto its second place.
- Switzerland has climbed to fourth place from fifth.
- The United Arab Emirates which had ranked 15th as recently as 2016 has entered the top five for the first time.
- Saudi Arabia has gained 13 places to stand at 26th and Qatar has entered the top 10 for the first time since 2013.
- Venezuela remained anchored to the bottom of the ranking, hit by inflation, poor access to credit and a weak economy.
- Asia-Pacific region has emerged as a global beacon with 11 out of 14 economies either improving or holding their ground.
Where does India stand?
- India has moved up one place to rank 43rd.
- The Indian ranking was driven by a robust rate of growth in real GDP, improvements in business legislation and an increase in public expenditure on education.
- The challenges before India are maintaining high growth with employment generation, digital literacy and internet bandwidth in rural areas, managing fiscal discipline, as also issues related to the implementation of Goods and Services Tax and resource mobilisation for infrastructure development.
The World Competitiveness Rankings started in 1989 assessed 63 economies based on 235 indicators.
