Switzerland Tops WEF Global Competitiveness Ranking 2012-2013
For the fifth year in a row, Switzerland leads the ranking of the annual global competitiveness index determined by the WEF, ahead of Singapore, Finland and Sweden. Six of the top ten countries listed are European countries and three Asian countries figure in the top ten. Singapore remains the second-most competitive economy in the world; Hong Kong SAR and Japan placed 7th and 9th.
The WEF global competitiveness index is based on 12 pillars that include rankings of institutions, infrastructure, macroeconomic environment, as well as health and primary education. The competitiveness report praised Switzerland’s excellent research institutions, the dynamism of its markets, and its innovativeness. A key factor to its competitiveness lies in Switzerland’s efficient Science-to-Market instruments, the report states. However, there are many factors contributing to the Swiss success and not just one single factor.
“Switzerland’s scientific research institutions are among the world’s best, and the strong collaboration between its academic and business sectors, combined with high company spending on R&D, ensures that much of this research is translated into marketable products and processes reinforced by strong intellectual property protection.”
– The Global Competitiveness Report 2012-2013 –