The IMD, a Swiss academic and business institution, connects researchers with business owners and entrepreneurs to enhance organizational development, learning, innovation, and related areas. Each year, surveys are distributed to companies in 67 countries to compile rankings. These rankings assess national economies using both executive opinion and objective data, focusing on factors such as government efficiency, business infrastructure, and overall performance.
The ability of each country’s economy to generate wealth for its citizens is a crucial metric. Singapore, achieving a perfect score, claimed the top spot, rising three positions from last year. Thailand also improved significantly, moving up five spots to rank 25th.
(Sources: IMD)
The top 10 most competitive economies globally are:
1. Singapore
2. Switzerland
3. Denmark
4. Ireland
5. Hong Kong
6. Sweden
7. United Arab Emirates
8. Taiwan
9. Netherlands
10. Norway
Asian countries have shown notable advancements, with many improving compared to the previous year. Significant movers include South Korea (up 8 spots to 20th place), as well as China (14th), Indonesia (27th), and Malaysia (34th) — each climbing 7 positions.
This trend reflects increasing attractiveness of the region to international investors and local businesses. However, not all Asian nations share this upward trend. Japan’s economic competitiveness slipped, falling three spots to 38th place, while the Philippines ranked as the least competitive in Asia at 52nd out of 67 countries.
For a detailed ranking and more information, visit the International Institute for Management Development’s website.
