• Switzerland's news in English
 

IMD ranks US and Swiss tops for competitiveness

AFP/The Local · 30 May 2013, 10:07

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
Refugee crisis
Expats in Switzerland mobilize for refugees
A refugee sits by his tent in Calais. Photo: Philippe Huguen

Expats in Switzerland mobilize for refugees

2 hours ago

Moved by the tragic images in recent days of the plight of Syrian refugees fleeing to Europe, some expats in Switzerland are taking matters into their own hands to try and help, finds The Local.

New fears for livestock after Swiss bear sighting
Photo: Daniel Mosch/File

New fears for livestock after Swiss bear sighting

2 hours ago

A hunter in the Swiss canton of Graubünden has reported seeing a bear in the Val du Roggiasca, part of the Val Mesolcina near the Italian border, the first bear sighting in that particular area since 1904.

IOC starts $2 million fund to help refugees
IOC President Thomas Bach. Photo: Greg Baker/AFP

IOC starts $2 million fund to help refugees

2 hours ago

The Lausanne-based International Olympic Committee (IOC) announced a two million dollar fund on Friday that will be made available to National Olympic Committees for programmes focused on refugees.

Husband arrested after Pully wife shot at home
The incident happened in Pully, a suburb of Lausanne. Photo: Ville de Pully

Husband arrested after Pully wife shot at home

4 hours ago

Police arrested a 28-year-old man in the early hours of Thursday morning after his wife was shot in the apartment they shared with their children in Pully, in the canton of Vaud.

US Open tennis
Swiss pair rolls into US Open third round
Federer only needed 80 minutes to win over Steve Darcis. Photo: Clive Brunskill/Getty Images North America/AFP

Swiss pair rolls into US Open third round

6 hours ago

Swiss tennis stars Roger Federer and Stan Wawrinka both rolled into the US Open third round on Thursday, with 17-time Grand Slam winner Federer still finding ways to improve his game at age 34.

Swiss bishops: we are open to gay people
Vitus Huonder caused outrage with his remarks in July. Photo: Swiss Conference of Bishops

Swiss bishops: we are open to gay people

1 day ago

The Catholic church is open to all, regardless of sexuality, the Swiss Conference of Bishops has said in its first official statement since the controversial comments of Bishop Vitus Huonder at the end of July.

Swiss freeze assets of Malaysian state fund
Protestors reflected in a portrait of Malaysian prime minister Najib Razak. Photo: Mohd Rasfan/AFP

Swiss freeze assets of Malaysian state fund

1 day ago

Swiss authorities said on Thursday they had frozen tens of millions of dollars in assets as part of an investigation into Malaysia's troubled state investment fund, 1Malaysia Development Berhad (1MDB).

Merkel to talk up free movement in Swiss visit
Photo: John Macdougall/AFP

Merkel to talk up free movement in Swiss visit

1 day ago

German chancellor Angela Merkel is expected to reiterate Europe’s commitment to the free movement of people during an official visit to Switzerland on Thursday, only her second in ten years.

Swiss target airlines in asylum crackdown
Photo: Fabrice Coffrini/AFP

Swiss target airlines in asylum crackdown

1 day ago

Airlines which transport passengers illegally into Switzerland will be subject to steep fines from October 1st in a new rule that aims to cut down on the number of asylum seekers.

Fifa reform body holds first meeting in Bern
Photo: AFP

Fifa reform body holds first meeting in Bern

2 days ago

A 12-member committee set up by Fifa to draw up far-reaching reforms to the Zurich-based world governing body for football in the wake of a corruption scandal met for the first time in Bern on Wednesday.

RECEIVE OUR NEWSLETTER AND ALERTS

Features
Getting the lowdown on Swiss import duties for stuff bought abroad
National
One million people throng Zurich techno street party
National
Where are Switzerland's priciest babysitters?
Features
Farmers’ wives offer visitors genuine slice of life in rural Switzerland
National
Switzerland set to test world's longest train tunnel under the Alps
National
US right-wing think tank: Swiss are freest people in Europe
National
Bottoms up: new signs alert visitors to Zurich's nudist bathing zones
Sport
Swiss man smashes cliff jumping record with 59-metre dive
National
Climate change seen as plus for Switzerland's wine growers
Photo: Federal Housing Office
National
Buying home in Switzerland is 'cheaper than renting'
National
Central bank to launch new high-tech banknotes — six years late
National
Swiss speed climber summits all 4,000m peaks in the Alps
National
Report: Switzerland is world's safest country (barring extreme sports)
National
Where are the top ten spots to visit in Switzerland for tourists?
National
Two Japanese climbers found dead after scaling Matterhorn's summit
National
High Geneva accommodation costs force unpaid UN intern to live in tent
National
Zurich farmer ordered to remove cow bells after noise complaints
National
Gays file criminal complaint against Swiss bishop over speech
National
The Expat Guide: Moving to Switzerland
National
Briton who ends life in Switzerland: 'Ideal shelf life for people is 70'
National
Aargau farmer under fire after pigs gassed to death by own excrement
National
Cows trample German woman to death in Graubünden Alps
National
Hot times: Swiss city to host first naked performance festival
Features
Expat American author's time in Zurich inspires racy bestseller
National
10 amazing places to be on Swiss National Day — or any other day
National
Swiss army pilfers water from French lake for cows in Switzerland
National
Swiss Army airlifts water to thirsty cows facing drought conditions
International
Canary Islands: diver killed in collision with Swiss windsurfer
National
VIDEO: Seagull steals camera for amazing bird's eye selfie
Switzerland celebrates first ascent of Matterhorn
Politics
Immigrant recruits may not be loyal: Swiss defence minister
Solar Impulse 2 round-the-world flight halted for repairs
Society
Teenager gets high on vegetarian meal at Zurich club
National
Greece seeks tax revenues from assets 'hidden' in Swiss banks
Culture
Paris police arrest Swiss artist for naked Eiffel Tower selfies
National
Scientists uncover largest Swiss dinosaur skeleton ever found
National
National weather office extends danger alerts as heatwave takes hold
National
Most severe heatwave in Switzerland since 2003 on the way
Travel
Bogglingly expensive Geneva club sandwiches remain 'priciest in world'
Politics
Anti-immigration nationalist party remains most popular: poll
National
Greek finance minister slams Swiss over lack of tax evasion info
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

4,446
jobs available