Europe dominates the ranking of the world's economic competitiveness

English Section / 20 iunie

Europe dominates the ranking of the world's economic competitiveness

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The continent has three economies in the top five globally The first place belongs to an Asian country - Singapore Romania - on the 50th place

Europe dominates the world ranking of competitiveness for the current year, with six economies from the region being in the top ten positions, three of which are even in the top five places (Switzerland, Denmark, Ireland), according to the analysis published by the International Institute for Management Development (IMD ).

The ranking, taken over by Statista, evaluates 67 economies based on over 250 indicators from four major categories: economic performance, government efficiency, business efficiency and infrastructure. Indicators include a mix of robust statistical data, which accounts for two-thirds of the final ranking, and the perceptions of more than 6,000 executives, which account for the remaining third of the results.

The ranking covers large parts of Europe, as well as North America, leaving at the same time some "dead spots" in Latin America, Asia and, especially, Africa. Only four African economies were rated this year.

Asia has three economies in the Top 10, but the continent's largest economies - China, India, Japan and South Korea - are absent. Instead, Singapore, Taiwan and Hong Kong achieve the highest scores in the region, with Singapore even at the top of this year's ranking.

Thus, the Top 10 regarding economic competitiveness in the current year looks like this: Singapore, Switzerland, Denmark, Ireland, Hong Kong, Sweden, United Arab Emirates, Taiwan, Netherlands, Norway.

The EU member states from South-Eastern Europe go down in the competitiveness ranking

The EU member states from South-Eastern Europe - Croatia, Bulgaria, Romania and Slovenia - had, in 2024, worse results than a year ago in the world competitiveness ranking drawn up by IMD from Switzerland, according to If Venezuela is in last place in this top (67), in 46th place, four positions lower than in 2023, is Slovenia, otherwise the best performing among the four EU member states in South-Eastern Europe.

Croatia dropped one place compared to last year, reaching the 51st position, and Romania lost two places, placing itself at the 50th position. Bulgaria is in the 58th place, one position lower than the previous year.