Economy, International Business

IMD launches country competitiveness “stress test ranking”

The recently published IMD World Competitiveness Yearbook 2009 shows some significant changes over last years overall rankings, though not much at the top:

Of the 57 economies ranked by IMD, the US still ranks No. 1 in 2009. Hong Kong has switched places with Singapore to gain the 2nd place and is swiftly “closing the gap” with the US. Switzerland maintains its 4th rank from last year.

Italy lost another few positions, from 46th in 2008 to 50th in 2009. Big and unexpected movements in the middle of the range, though possibly due to the different recession timing in different geographies. It will be interesting how the global recession plays into 2010 rankings:

The most spectacular movements are seen for Indonesia, rising from 51st place to 42nd and Estonia, falling 12 ranks to 35th place. Some countries suffered important reversals: Colombia (51st), Greece (52nd) and Taiwan (23rd) fell 10 places each, followed by Romania (from 45th to 54th). Other important declines include: Luxembourg (from 5th to 12th), Hungary (from 38th to 45th), Spain (from 33rd to 39th) and Ireland (from 12th to 19th). And to think that Ireland was ranked 5th in 2000!

Particularly noteworthy this year is the aptly-named, newly-reported “Stress Test on Competitiveness” ranking:

Denmark finishes in first place in the “Stress Test” rankings, an analysis of which countries are better equipped to fare through the financial crisis and improve their competitiveness in the near future. In other words, the test is future oriented – it focuses on exposure, readiness and resilience in a period of world recession.

[...] Despite finishing first in the overall 2009 World Competitiveness Yearbook rankings, the United States comes in 28th position in the Stress Test, underlining the concern of the market with the depth of the crisis and the time that it will take to solve it.

Interesting. Here’s the 2009 scoreboard (PDF file)

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