According to the 2011 World Competitiveness Yearbook by the Lausanne-based IMD business school, Switzerland has slipped one place since last year. The country has managed to keep growing due to paying attention to both the European and Asian markets, as well as successful attempts at diversification, the school said.
Hong Kong and the United States lead the IMD rankings, both slightly ahead of last year’s winner, Singapore.
Sweden grabbed 4th place. Only 4 big economies are in the top 20, IMD said.