New research by the International Institute for Management Development (IMD) in Switzerland has ranked the world’s most competitive economies for 2024.
The ranking divides its data into four areas: economic performance, government efficiency, business efficiency, and infrastructure.
The top 10 is dominated by smaller economies – a reflection that economic competitiveness is not only a question of size. Researchers say those with the ability to adapt with changing economic conditions rank well.
“We believe the most competitive economies of the future will be those able to anticipate and adapt to this changing global context while simultaneously creating value and well-being for their people.,” said Arturo Bris, director of the IMD World Competitiveness Centre, which has been behind the annual ranking since its inception in 1989.
Click through to see where Australia ranks.