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
Life & Aging
Why liberal Switzerland is opposed to the Sarco suicide capsule
Swiss researchers identify sources of smog in Beijing
This content was published on
The origins of smog in the Chinese capital differ between summer and winter, found researchers from the Paul Scherrer Institute.
Swiss cultural institutions slam development funding cut
This content was published on
Twelve institutions have criticised a decision by the Swiss Agency for Development and Cooperation to cut funding for cultural projects with the Global South.
Hackers find only minor issues with Swiss Post’s e-voting system
This content was published on
A recent bug bounty scheme involving 7,000 hackers confirmed just a single vulnerability – of “low severity” – in the e-voting software.
Greens lodge complaint about vote on women’s retirement age
This content was published on
The party is appealing the regularity of a 2022 vote after news this week that forecasts about the health of the pension system were miscalculated.
Business lobby wants SNB to act against strong Swiss franc
This content was published on
The National Bank must act fast to keep the franc’s strength from hurting exports, says the country’s biggest manufacturing lobby.
Swiss companies must adapt to EU bottle cap regulation
This content was published on
Plastic bottles in the EU must now have caps that remain attached once unscrewed. Swiss companies must adapt, entailing additional work.
Swiss authorities call for ideas for clearing ammunition from lakes
This content was published on
The Federal Office for Armaments, armasuisse is seeking ideas for the environmentally friendly and safe recovery of ammunition from Swiss lakes. The three best ideas will receive a prize of CHF50,000 ($58,389).
Kate Winslet to receive Golden Icon award at Zurich Festival
This content was published on
The upcoming 20th edition of the Zurich Film Festival will feature a star guest: Oscar winner Kate Winslet is coming to Zurich on October 7. She will be honoured at the festival for her career and will present her new film.
Swiss minister moots updated Japan-Switzerland free trade agreement
This content was published on
During her presidential visit to Japan Amherd reiterated Switzerland's desire to modernise the free trade agreement between the two countries.
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.