Switzerland Stands On Top Of The Global Competitiveness Report From WEF

04 Sep 2013

The World Economic Forum’s (WEF) 2013-2014 Global Competitiveness Report sees Switzerland on top of the overall rankings of 148 economies.

According to WEF’s flagship report, the top three economies in the rankings did not change from 2012-2013 rankings, with Switzerland holding the position as the most competitive economy for the 5th running year.

Germany moved up two places to the 4th, and the United States reversed a 4-year downward trend, rising two places to 5th. Featuring in the top 10 of the rankings are two Asian economies - China's Hong Kong SAR (7th) and Japan (9th).

Among the BRICS economies, China (29th) continues to lead the group, ahead of South Africa (53rd), Brazil (56th), India (60th) and Russia (64th), and the gap between China and India has widened from 8 places in 2006 to 31.

WEF’s economist, Thierry Geiger, who is in charge of the Asia part of the report, told Xinhua that China maintained its position of 29th in this year's rankings, unchanged from last year, and the performance of China remained very strong and stable by all standards, much better than most of the other large emerging economies.

The Global Competitiveness Index (GCI) is the basis for the competitiveness ranking of the Global Competitiveness Report. The GCI is calculated by gathering data covering 12 categories, namely innovation, institutions, health and primary education, macroeconomic environment, goods market efficiency, higher education and training, labor financial market development, market efficiency, market size, technological readiness, innovation and business sophistication.

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