The small Alpine nation climbed from fifth to fourth place in the 63-country competitiveness ranking. It was helped by economic growth, the stability of the Swiss franc and high-quality infrastructure, IMD said on TuesdayExternal link.
Switzerland was ranked top for university and management education, health services and quality of life, it added.
Singapore was judged the world’s most competitive economy for the first time since 2010, as the United States slipped from the top spot.
Singapore got top marks thanks to its advanced technological infrastructure, the availability of skilled labour, favorable immigration laws, and efficient ways to set up new businesses, IMD said. Hong Kong held on to second place, helped by its tax and business policy environment and access to business finance.
The IMD World Competitive Rankings has been carried out every year since 1989. Countries are rated on 235 indicators, two-thirds related to employment and trade statistics and one-third to perceptions gathered in opinion surveys. IMD a leading independent business school based in Lausanne on Lake Geneva.
Popular Stories
More
Multinational companies
Azeri fossil-fuel cash cow brings controversy to Switzerland
Swiss price watchdog slams excessive prices for generic medicines
This content was published on
The cheapest generic medicines available in Switzerland are more than twice as expensive as in other countries, according to a study by the Swiss price watchdog.
Nature should not figure in net zero calculations: academic study
This content was published on
The natural removal of CO2 from the atmosphere by forests or oceans should not be included in the net-zero balance of climate protection measures, argue researchers.
This content was published on
None of the 15 major Swiss retail banks is meeting international climate and biodiversity targets, according to a ranking by WWF Switzerland.
This content was published on
Nestlé's new CEO Laurent Freixe, has presented plans for the future of the world's largest food company, after his first few weeks in office.
Swiss foreign minister calls on Moscow to end Ukraine war
This content was published on
It's high time Moscow ended its war against Ukraine, Swiss foreign minister Ignazio Cassis tells the UN Security Council.
This content was published on
The only alternative to the UN Palestinian agency’s work in Gaza is to allow Israel to run services there, Philippe Lazzarini, UNRWA Commissioner-General, told reporters in Geneva on Monday.
Study reveals food culture differences between Switzerland and neighbours
This content was published on
Three-quarters of Swiss people consider eating to be a pleasurable, social activity, a new survey reveals. Healthy eating, however, plays a much less important role, it found.
This content was published on
Despite a slightly better score Switzerland has dropped four places as a destination for foreign direct investment over the next three years.
This content was published on
Switzerland is in the throes of revamping its corporate tax system to keep it line with the competition rules of the European Union and Organisation for Economic Cooperation and Development (OECD). Many cantons are reducing their headline tax rates to make up for having to ditch special perks for multinational companies that locate offices and…
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.