The IMD Business School in Lausanne has published the World Competitiveness Ranking 2020, which compares the competitiveness of 63 nations. Switzerland took third place, which is one higher than 2019. It improved by one place last year as well.
Robust trade relationships strengthen economy
Switzerland scored highly thanks to its government, among other things. It came in second place worldwide in the category measuring the effectiveness of governments. The study authors view the robust trade relationships with other countries as a major strength. This has contributed significantly to the country’s economic success.
Switzerland also excelled with its infrastructure, which is rated as being the third best in the world. The well networked research and training landscape as well as the health system were highlighted with regard to this.
The first two places were taken by Singapore and Denmark this year. Following Switzerland, the Netherlands and Hong Kong come in fourth and fifth place.
The World Competitiveness Ranking has been conducted by the IMD Business School since 1989.