Finland 3rd Most Competitive Country in the World
According to The Global Competitiveness Report published by World Economic Forum, Finland is ranking again in top spots. This year, Finland is the 3rd most competitive country in the world.
Switzerland has remained in the top spot, for the 5th consecutive time whilst Singapore ranks second. The competitiveness among participating countries has been fiercer than in previous years as this year a record number of 148 countries took part in the ranking report.
The report ranks countries according to a variety of factors which include the following:
- – transparency of institutions
- – innovation & technological readiness
- – labour market efficiency
- – health and education
- – macroeconomics
- – infrastructure.
The most prominent factors contributing to Finland’s top position are the transparency of public institutions, health and education. The feedback of the report reads: “the country boasts well-functioning and highly transparent public institutions and also seem to be among the best run and most ethical in the world“.
However, Finland has also been praised for its workforce which has been ready to adapt to changing environments and efficiently use resources, making Finland one of the most innovative countries in the world and a centre for business.
Top 10 most competitive countries in the world rank:
5. United States
7. Hong Kong
10. United Kingdom
The heatmap below includes ranks for some of the rest of the countries taking part in the Index Report.
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