A Learner's Choice
IMD World Competitiveness Ranking 2021 was released on 17 June 2021. Its data explores multiple factors that affect the prosperity of 64 economies. This year, the rankings expose the economic impact of the pandemic across the globe.
The World Competitiveness Ranking is developed annually by the IMD World Competitiveness Center.
It measures the prosperity and competitiveness of 64 countries by examining four factors:
» Switzerland has topped the IMD’s World Competitiveness Ranking for the first time in its 33-year history.
» The UAE and the USA remain at the 9th and 10th spots, respectively, as of last year.
» India maintained 43rd rank on an annual IMD World Competitiveness Index. India has maintained its position for the past three years.
» This year, there has been a significant improvement in government efficiency in India.
Reason:
India’s improvements in the government efficiency factor are mostly due to relatively stable public finances and to the positive feedbacks we registered among Indian business executives with respect to the support and subsidies provided by the government to the private companies.
» Among the BRICS nations, India (43rd) is ranked second after China (16th). Other BRICS nations are- Russia (45th), Brazil (57th) and South Africa (62th).
Top five countries: Rank 1- Switzerland Rank 2- Sweden Rank 3- Denmark Rank 4- Netherlands Rank 5- Singapore | Bottom five countries: Rank 60- Mongolia Rank 61- Botswana Rank 62- South Africa Rank 63- Argentina Rank 64- Venezuela | Top-performing Asian economies: Rank 5- Singapore Rank 7- Hong Kong Rank 8- Taiwan |
The IMD World Competitiveness Yearbook (WCY) was first published in 1989. The WCY is a comprehensive annual report and worldwide reference point on the competitiveness of countries.
It provides benchmarking and trends, as well as statistics and survey data based on extensive research.