Expat hotspots top global competitive ranking

By Kirsten Hastings, 1 Jun 17

Hong Kong and Singapore ranked first and third as the most competitive countries in the world, with Switzerland coming in second, according to the 2017 IMD World Competitiveness Ranking.

Biggest movers

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Kazakhstan was the biggest winner in 2017, jumping an impressive 15 spots to reach 32.

Mainland China gave a strong performance last year to jump seven places to 18, while Indonesia crept up six places to 42.

Professor Arturo Bris, director of the IMD World Competitiveness Centre, said the indicators that stood out among the most improved countries are related to government and business efficiency as well as productivity.

“These countries have maintained a business-friendly environment that encourages openness and productivity,” he said.

“If you look at China, its improvement of seven places to 18th can be traced to its dedication to international trade. This continues to drive the economy and the improvement in government and business efficiency.”

Falling back

In contrast, the Slovak Republic dropped 11 spots to 51, while Italy and Turkey both fell nine places to hit 35 and 38, respectively.

“You would expect to see countries such as Ukraine (60), Brazil (61) and Venezuela (63) here because you read about their political issues in the news. These issues are at the root of poor government efficiency which diminishes their place in the rankings,” said Bris.