• Switzerland's news in English
 

IMD ranks US and Swiss tops for competitiveness

Published: 30 May 2013 10:07 GMT+02:00

In its annual ranking for 2013, released on Thursday by the Lausanne-based Institute for Management Development, the United States jumped ahead from the number two slot in which it found itself in 2012.

The American improvement was thanks to a rebound of its financial sector, abundant technological innovation and successful companies, IMD said.

Last year's frontrunner, Hong Kong, meanwhile fell to third place in the 2013 ranking, while Switzerland moved up to second from third.

Sweden moved up to fourth place from fifth last year, trading places with Singapore which dropped to fifth.

"We base our study on 333 criteria, two-thirds of them statistics and the remaining third opinion polls," Stéphane Garelli, head of the IMD World Competitiveness Center, told AFP.
   
"In the end, the golden rules of competitiveness are simple: manufacture, 
diversify, export, invest in infrastructure, educate, support SMEs, enforce fiscal discipline, and above all maintain social cohesion," he said.
   
Running from the United States to last-placed Venezuela, the 
60-economy ranking also helps flag up broader economic trends.
   
"While the eurozone remains stalled, the robust comeback of the US to the 
top of the competitiveness rankings, and better news from Japan, have revived the austerity debate," said Garelli.
   
"Structural reforms are unavoidable, but growth remains a prerequisite for 
competitiveness," he said.

"In addition, the harshness of austerity measures too often antagonizes the population. In the end, countries need to preserve social cohesion to deliver prosperity."

While the United States is well-positioned in the short-term, it is also expected to outperform in the longer term due to anticipated higher oil and gas production, which will keep energy prices low compared to those in Europe, Garelli indicated in a statement.
   
The top 30 includes 10 members of the austerity-gripped European Union, 
with Germany and Britain at an unchanged ninth and 18th respectively.
   
Ireland rose from 20th to 17th, and France from 29th to 28th.

   
Japan also climbed from 27th place to 24th.

   
The IMD underlined the impact of Japan's "Abenomics" — Prime Minister 
Shinzo Abe's drive to ramp up the money supply and offer fiscal stimulus — saying it seemed to be having an impact on the dynamism of the world's third-largest economy.
   
Fortunes were mixed for the BRICS group of emerging economies, made up of 
Brazil, Russia, India, China and South Africa.
   
China climbed to 21st from 23rd, and Russia to 42nd from 48th.

   
But India slipped from 35th to 40th, Brazil from 46th to 51st, and South 
Africa from 50th to 53rd.
   
"Brazil, Russia, India, China and South Africa are immensely different in 
their competitiveness strategies and performance, but the BRICS remain lands of opportunities," said Garelli.

Click here for the IMD press release.

AFP/The Local (news@thelocal.ch)

Your comments about this article

Today's headlines
Switzerland drops in 'global competitiveness'
Photo: IMD

Switzerland drops in 'global competitiveness'

Switzerland slipped in IMD’s 2015 World Competitiveness Ranking to fourth place from second a year earlier, the Lausanne-based business school said on Wednesday. READ  

Fifa corruption scandal
Blatter says Fifa will expel guilty officials
Sepp Blatter: facing pressure ahead of vote. Photo: Fabrice Coffrini/AFP

Blatter says Fifa will expel guilty officials

Fifa's Swiss president Sepp Blatter admitted Wednesday football's world body faces a "difficult time" because of a major corruption storm but vowed any officials found guilty would be expelled from the sport. READ  

Dump truck driver dies after plunge into water
Photo: Aargau cantonal police

Dump truck driver dies after plunge into water

Help came too late for a 62-year-old dump truck operator who died on Wednesday after the vehicle plunged several metres into a retention basin in Wohlen in the canton of Aargau, police said. READ  

Fifa corruption scandal
Six indicted Fifa officials oppose extradition
FBI Director James B. Comey speaks during the announcement of charges against Fifa officials at a news conference on Wednesday in New York. Photo: Don Emmert/AFP

Six indicted Fifa officials oppose extradition

Six of the seven top Fifa officials arrested on Wednesday in Zurich as part of a twin corruption probe are opposing their extradition to the United States, the Swiss justice department said. READ  

Who's who in US Fifa corruption probe

The US Justice Department announced charges against nine present or former Fifa officials on Wednesday as part of a major probe into corruption at the core of football's world governing body. Seven were arrested in Zurich. Here are brief bios of the nine, five others also indicted, and four who have already pleaded guilty: READ  

Federer and Wawrinka advance in French Open
Photo: Pascal Guyot/AFP

Federer and Wawrinka advance in French Open

Switzerland's Roger Federer continued his seamless progress at the French Open tennis tournament on Wednesday by ousting Marcel Granollers of Spain 6-2, 7-6 (7/1), 6-3 to reach the third round. READ  

Fifa corruption scandal
Swiss arrest seventh football official in Zurich
Fifa communications manager Walter de Gregorio at Wednesday's press conference. Photo: AFP

Swiss arrest seventh football official in Zurich

Swiss authorities on Wednesday said a seventh top football official was arrested following a US request in a corruption probe that has thrown Fifa into turmoil. READ  

Switzerland signs tax evasion accord with EU
Photo: European Union External Action

Switzerland signs tax evasion accord with EU

The European Union and Switzerland signed a major accord on Wednesday designed to prevent EU residents from hiding undeclared income in Swiss banks, the European Commission said. READ  

Fifa corruption scandal
Fifa rocked by US racketeering charges
Photo: AFP

Fifa rocked by US racketeering charges

Fifa, the Zurich-based governing body for world football, was rocked on Wednesday by US allegations of racketeering involving millions of dollars of bribes and corruption charges levelled against nine of its top officials, including two vice-presidents. READ  

Fifa corruption scandal
Police arrest Fifa officials in Zurich over 'bribes'
Baur au Lac hotel, where arrests took place. Photo: AFP

Police arrest Fifa officials in Zurich over 'bribes'

UPDATED: Six football officials suspected of receiving bribes worth millions of dollars were arrested in Zurich early Wednesday at the request of the US government, Swiss authorities said. READ  

RECEIVE OUR NEWSLETTER AND ALERTS
Features
Severed rope recalls Matterhorn's first ascent 150 years ago
National
Top Swiss court refuses to recognize child's two gay 'fathers'
National
Woman's scoop for Ticino online news site: 'I killed my husband'
National
Four Swiss bathing areas 'unfit' for swimmers: Euro environmental body
Technology
Scientists from Zurich university find craters beneath Lake Neuchâtel
National
Prince William in Switzerland backs fight to protect endangered species
National
Swiss Federal Railways rely on sheep to 'mow' grass alongside tracks
Sport
Switzerland to host 2020 international ice hockey tourney
Business & Money
I never learned German: departing Credit Suisse CEO's regret
Sport
International tennis museum in US showcases Federer hologram
National
Inequality greater than most Swiss think: opinion poll for unions
National
Shooting in Switzerland leaves five dead in domestic drama near Zurich
National
Swiss Federal Railways tackle taboo subject of suicide in bid to cut deaths
National
German expats in Switzerland face discrimination: report
Travel
High prices blunt Swiss tourism's cutting edge: World Economic Forum
Business & Money
Ticked off Rolex slaps Italian Prime Minister Matteo Renzi on wrist
National
Shock and humour drive police safety video warning over 'inattention'
National
Switzerland ranks 13th best place in world for mothers: NGO
Education
Times Higher Education rates EPFL world's top 'young university'
Travel
Switzerland's trains again ranked best for performance in Europe
National
Ten percent of Swiss farmers fail to meet government regulations
National
Municipality of Zermatt bans taking selfies with Saint Bernard dogs
Business & Money
Salt (formerly Orange) aims to shake up Switzerland's mobile market
National
Switzerland tops 2015 world 'happiness index' developed by UN
National
New book: Swiss architect Le Corbusier was 'out-and-out fascist'
Features
Tasty street food catches on in biggest Swiss cities
Sport
Invasion of frogs forces early end to Zurich football game
National
New ranking downgrades the 'power' of Switzerland's passport
Features
Swiss hotel management schools serve up 'world best' recipe
National
Segways win approval for operation on Swiss bicycle lanes
National
Joan Baez and Sting in lineup for this summer's Paléo music festival
National
Second CERN club skier dies from avalanche in Valais Alps
Sport
Lausanne and IOC celebrate a century of Olympism
National
Bern waters down criteria for beer that can be labelled ‘Swiss’
National
Internet giant Google named most attractive employer in Switzerland
National
VIDEO: Swiss television satire clip ridicules Americans on ski slopes
National
Immigration remains top election issue for Swiss voters: opinion poll
National
Environmental bureau ranks Zurich first among Europe's 'sootfree cities'
National
Zurich crane-climbing stunt by teenager flags 'roofer' concerns
Education
THE ranks EPFL among seven 'fastest rising young universities'
Features
Mobility takes off as young urban Swiss catch the car-sharing bug
Business & Money
Ethical Coffee Company aims to beat Nespresso in home market
National
Use of temporary staffing continues to rise in Switzerland
Latest news from The Local in Austria

More news from Austria at thelocal.at

Latest news from The Local in Germany

More news from Germany at thelocal.de

Latest news from The Local in Denmark

More news from Denmark at thelocal.dk

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

Latest news from The Local in Sweden

More news from Sweden at thelocal.se

4,325
jobs available