- Denmark takes the lead in the IMD ranking for competitiveness.
- Nevertheless, Switzerland performs well in many factors and comes in second.
- Disruptive factors such as inflation, the Ukraine war and supply bottlenecks have led to major shifts in the ranking.
When it comes to competitiveness, Switzerland is always one of the top nations. However, in this year’s ranking by the Lausanne business school IMD, Switzerland has to cede first place to Denmark. Switzerland is now in second place.
Denmark is the digital leader
Denmark climbs to first place for the first time since the rating was created. According to the IMD, the country that used to take third place is the most digitally advanced country in the world, has an agile corporate sector and attaches great importance to sustainability. In the study, Denmark occupies the top positions in the area of company performance as well as in the components of productivity and corporate governance.
Switzerland also remains top in some areas. For example in the areas of functioning of the state or infrastructure. In addition, Switzerland also performs well when it comes to company performance (fourth place). However, the country is weak in terms of economic performance, where Switzerland only ranks 30th. This is mainly due to the high price level, which traditionally performs worse.
Larger shifts due to the world situation
Disruptive factors such as inflation, the Ukraine war or supply bottlenecks that are problematic for companies have led to major shifts in the ranking this year. Croatia made the biggest jump up the table from 59th to 46th place. The country has improved in all main indicators of competitiveness.
New Zealand, on the other hand, developed worse, slipping eleven places. Other major economies also performed poorly this year, such as Great Britain (-5 places) or Indonesia (-7 places).
Meanwhile, Switzerland’s neighboring countries did not make it into the top ten of the ranking. Germany is still 15th and Austria 20th. France is 28th and Italy is still only 41st.