15 Best Countries with Most Competitive Economies

As a Canadian call centre we are interested to read rankings that reflect where Canada places on the world’s stage and I have featured this in posts like the best country to live, smartest countries, the happiest countries, the  most peaceful countries, the most sustainable countries, the friendliest countries, the most charitable countries, the most prosperous countries, the best countries for quality of life, the best countries for business, the top countries for life expectancy, the best countries for working women, the best country for world travel & tourism, the best countries for human development, the top countries for Clean Capitalism, the best country for child well-being, the best countries from social progress, the best countries for higher education, the most popular countries, the least corrupt countries, the best countries for paid vacation days, the countries with the best reputation, the best countries for global professionals, the best countries for ease of doing business, the best countries for starting a business, the best country for business, the best country for customer satisfaction and the most gay positive country. Today I’m looking at the 15 best countries with the most competitive economies from the World Economic Forum (WEF)’s The Global Competitiveness Report (GCR) 2013–2014.

The GCR assessed the economies of 148 economies around the world to ascertain this data. The countries were ranked based on twelve pillars and assigned a score: institutions, infrastructure, macroeconomic environment, health and primary education, higher education and training, goods market efficiency, labor market efficiency, financial market development, technological readiness, market size, business sophistication and innovation. Based on these findings, the 15 best countries with the most competitive economies are:

1. Switzerland – Score out of seven: 5.67. GCR 2012-2013 ranking: 1
   

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2. Singapore – Score out of seven: 5.61. GCR 2012-2013 ranking: 2
3. Finland – Score out of seven: 5.54. GCR 2012-2013 ranking: 3.
4. Germany – Score out of seven: 5.51. GCR 2012-2013 ranking: 6
5. United States – Score out of seven: 5.48. GCR 2012-2013 ranking: 7
6. Sweden – Score out of seven: 5.48. GCR 2012-2013 ranking: 4
7. Hong Kong SAR – Score out of seven: 5.47. GCR 2012-2013 ranking: 9
8. Netherlands – Score out of seven: 5.42. GCR 2012-2013 ranking: 5
9. Japan – Score out of seven: 5.40. GCR 2012-2013 ranking: 10
10. United Kingdom – Score out of seven: 5.37. GCR 2012-2013 ranking: 8
11. Norway – Score out of seven: 5.33. GCR 2012-2013 ranking: 15
12. Taiwan, China – Score out of seven: 5.29. GCR 2012-2013 ranking: 13
13. Qatar – Score out of seven: 5.24. GCR 2012-2013 ranking: 11
14. Canada – Score out of seven: 5.20. GCR 2012-2013 ranking: 14
15. Denmark – Score out of seven: 5.18. GCR 2012-2013 ranking: 12

Though Canada did well by retaining their 14th place finish there is still room for improvement. According to the report “Canada’s competitiveness would be further enhanced by improvements in its innovation ecosystem, such as increased company-level spending on R&D (research and development) and government procurement of advanced research products.”

Though the report highlighted areas for improvement, it is commendable that given the economic climate Canada was able to stay the course and hold on to their place in the top fifteen.

[youtube]http://www.youtube.com/watch?v=xFdq_5HwEm8[/youtube]

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