Sweden LEADS Scandinavian countries in world competitiveness ranking but the USA regained its rightful place as the most competitive country on earth

Thursday, 30 May 2013
In the IMD ranked of the most competitive economies in world in 2013, Sweden successes to attain a 4th place, one place better than last years while the USA regained its rightful place as the most competitive economy one earth.
IMD  is a business school based in Switzerland claimed to be 100 percent focused on real-world executive development.
Sweden came out second in European classification of competitiveness according to the same ranking.
On Thursday, the Swiss business school IMD for the 25th time published its annual ranking of the various economies' competitiveness. Sweden advances one position to number four and pokes down Singapore at fifth place. U.S. regains the top spot, Switzerland climbs a place to number two, and Hong Kong go from one to three.

In the global ranking the other Scandinavian countries in the top 20 are Norway (6th), Denmark (12th), Finland (20th).
Sweden's main strengths are the level of education, health and environment and leadership style. Also when it comes to attitudes and values and social structure Sweden ranked on top. Weak points are fiscal policy, employment, and international trade.

Source: IMD World Competitiveness ranking 2013
The good performance of the world, US (1), Switzerland (2), Hong Kong (3), Sweden (4) and even Japan (24) – while the euro zone stagnates – calls austerity into question

We are glad that the Swedish economy climbs one place and now is the fourth most competitive in the world. But more impressive still is the development since the mid-1990s. Sweden's worst placement on IMD's ranking was reached in 1997. The Swedish economy was then the 19th most competitive in the world. Advancement with 15 locations since then is one of the more impressive among the 60 countries included in the IMD ranking.
Sweden's success is a testament of the institutional changes that came into place in the wake of the crisis of the 1990s. Examples are the fiscal framework, including the expenditure ceiling and surplus, the central Bank's independence and inflation targeting, and not least the Industrial Agreement, which was concluded at 1997.

According to IMD, the European top hitters, Switzerland, Sweden, and Germany share the same recipe for success: exports, manufacturing, diversification, competitive SMEs and budget discipline.
About the other winners though, "the US, Singapore and Canada, although not in the "winners" list, have very stable and enduring competitiveness models that rely on long-term advantages such as technology, education and advanced infrastructure."

In relations to the losers, the UK and France in particular are losing their dominant position and competitive clout, while The Netherlands, Luxembourg and Finland need to adapt their competitiveness models to a changing environment, IMD writes.
by Scancomark.com Team