Switzerland is the second most competitive country in the world

Switzerland comes second in the IMD 2024 global competitiveness ranking, just behind Singapore. Denmark ranks third.

After two years of decline, Switzerland has gained a place in the ranking of the Lausanne institute which conducted its survey among 67 countries. A status that it owes to its economic performance and the efficiency of its businesses, according to a press release from the IMD published on Tuesday. Switzerland also remains at the forefront in terms of efficiency of public authorities and quality of infrastructure.

“We believe that the most competitive economies of the future will be those that are able to anticipate and adapt to this changing global context while simultaneously creating value and well-being for their populations. And it will also make them sustainable,” Arturo Bris, director of the IMD Global Competitiveness Center (WCC), who created the annual ranking since its creation in 1989, said in the press release.

Towards a circular economy

According to him, the main challenges for the competitiveness of global economies in 2024 lie in the transition towards a circular and low-carbon economy, taking into account the growing integration of emerging markets into the global economy and monitoring the digital transformation.

Furthermore, for 55.1% of people questioned in the IMD study, the adoption of artificial intelligence (AI) is perceived as the major trend which will have the most impact on the competitiveness of companies in 2024. Next comes the risk of a global economic slowdown (52%) and geopolitical conflicts (36.1%).

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