Global Competitiveness Ranking and report was published by Institute of Management Development (IMD) World Competitiveness Center, located in Switzerland.  First report was published in 1989.

The institute is publishing annual Global Competitiveness Ranking Report every year, and through this report it is making assessment of competitiveness of Nation and World Economic Ranking.

The ranking is based on four principal factors namely –

  1. Economic Performance
  2. Government Efficiency
  3. Business Efficiency
  4. Infrastructure

Based on these four factors, IMD-WCC has fixed as much as 340 different criteria for holistic assessment of economies.

Two third part of the Global Competitiveness Ranking is based on statistical indicators, while rest one third part is based in international survey by IMD-WCC. This comprehensive survey is carried out by more than fifty thousand executives around the world.

In its first report released in 1989, the 32 countries were ranked. While in latest 2016 report 61 countries were ranked.

Global Competitiveness Ranking – Important Countries and their Ranks

In 2016, Global Competitiveness Ranking, India ranks 41. It has improved its position by three ranks as it was ranked at 44 in last year’s report. The reason of this improvement may be attributed to three factors –

  1. Fiscal deficit management. We have been able to bring down the fiscal deficit.
  2. Efforts to tackle corruption and red tapism which led to ease of doing business in India.
  3. Exchange rate stability.

China has slipped by three ranks, it is ranked 25. Last year it was ranked at 22. However, China is best ranked among BRICS nations in Global Competitiveness Ranking followed by India (41), Russia (44), South Africa (52) and Brazil (57).

Read More: India & China Relations

In Global Competitiveness Ranking 2016, Hong Kong (China) is at top position, followed by Switzerland and United States. Last year top rank was held by US. Venezuela ranks at the bottom of this list.

As report mentions the USA has surrendered its status as the world’s most competitive economy after being overtaken by China Hong Kong and Switzerland!

Among these 61 countries, 28 has improved their ranking including India, Hong Kong etc. 23 countries have slipped from their previous ranks ex. China, Switzerland etc. 10 countries have not changed their position.

Normally the Global Competitiveness Ranking is published in the month of May, and global investors refers it for their investment decisions. This report along with ‘Ease of Doing Business Report’ helps them in finding better opportunities.

Global Competitiveness Ranking 2016

  1. (2) China Hong Kong
  2. (4) Switzerland
  3. (1) USA
  4. (3) Singapore
  5. (9) Sweden
  6. (8) Denmark
  7. (16) Ireland
  8. (15) Netherlands
  9. (7) Norway
  10. (5) Canada
  11. (6) Luxembourg
  12. (10) Germany
  13. (13) Qatar
  14. (11) Taiwan
  15. (12) UAE
  16. (17) New Zealand
  17. (18) Australia
  18. (19) United Kingdom
  19. (14) Malaysia
  20. (20) Finland
  21. (21) Israel
  22. (23) Belgium
  23. (24) Iceland
  24. (26) Austria
  25. (22) China Mainland
  26. (27) Japan
  27. (29) Czech Republic
  28. (30) Thailand
  29. (25) Korea Rep.
  30. (28) Lithuania
  31. (31) Estonia
  32. (32) France
  33. (33) Poland
  34. (37) Spain
  35. (38) Italy
  36. (35) Chile
  37. (43) Latvia
  38. (40) Turkey
  39. (36) Portugal
  40. (46) Slovak Republic
  41. (44) India
  42. (41) Philippines
  43. (49) Slovenia
  44. (45) Russia
  45. (39) Mexico
  46. (48) Hungary
  47. (34) Kazakhstan
  48. (42) Indonesia
  49. (47) Romania
  50. (55) Bulgaria
  51. (51) Colombia
  52. (53) South Africa
  53. (52) Jordan
  54. (54) Peru
  55. (59) Argentina
  56. (50) Greece
  57. (56) Brazil
  58. (58) Croatia
  59. (60) Ukraine
  60. (57) Mongolia
  61. (61) Venezuela

In its object, IMD-WCC mentions “the World Competitiveness Center helps businesses and governments highlight competitive advantages and uncover opportunities in offering a range of customized solutions.”

Also Read: Index/Reports Issued by different organizations in World

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