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Global organizations, take note: The world’s most competitive economies all thrive in four categories, according to Swiss business school IMD: economic performance, government efficiency, business efficiency and infrastructure. Here’s what makes the very best different from the rest—and each other.
Leading the Pack
The most competitive economies in 2014 all ranked at or near the top of IMD’s list in recent years.
4 Factors Defined
For the 2014 edition of its annual World Competitiveness Yearbook, IMD sifted data and surveyed business executives to rank each economy in four areas. Taking all four rankings into account, researchers then determined overall rankings.
Total government expenditure as percentage of GDP in 2013:
Productivity as measured by GDP per hour:
Quality of general infrastructure (transportation, telecommunications, energy) on a scale of 1-7, with 1 being extremely undeveloped and 7 being extensive and efficient
Sources: The Conference Board, Economic Policy Institute, Hong Kong Construction Industry Council, IMD, International Monetary Fund, PwC, U.S. Department of the Interior, World Bank, World Economic Forum
PM NETWORK SEPTEMBER 2014 WWW.PMI.ORG