LAUSANNE, SWITZERLAND--(Marketwire - May 17, 2011) - IMD, a top-ranked global business school based in Switzerland, today announced the findings of its annual World Competitiveness Yearbook (WCY), which placed the US and Hong Kong as the most competitive countries, both slightly ahead of last year's winner, Singapore. In 2010, the US ranked third, losing the top ranking for the first time in decades.
IMD also released its first Government Efficiency Gap results, which compares a country's government and business efficiency to determine whether countries have "the government they deserve." According to the findings, the overall competitiveness of the US was "rescued" by its business efficiency. But the gap between its government and business efficiency has been declining since the early 2000s.
The recovery of financial markets and the resurgence of manufacturing helped push the US back to the top of the rankings. More buoyant exports also contributed to the country's ability to regain its leadership position among the 59 economies in the 2011 yearbook.
"The world of competitiveness becomes more national this year. 'World Competitiveness 2.0' is thus characterized by a greater self-reliance of countries," said Professor Stephane Garelli, director of IMD's World Competitiveness Center. "The 2011 WCY increasingly emphasizes re-industrialization, exports, and a more critical look at delocalization. This trend is triggered by the rise in commodity and transport prices and higher labor costs in emerging economies. National champions are favored everywhere and borders re-surface -- again."
| THE TOP 20 (OUT OF 59) | |||||||
| Score 2011 | Country | Rank 2010 | Rank 2011 | Score 2011 | Country | Rank 2010 | Rank 2011 |
| 100.0 | Hong Kong | 2 | 1 | 86.5 | Luxembourg | 11 | 11 |
| 100.0 | USA | 3 | 1 | 86.4 | Denmark | 13 | 12 |
| 98.6 | Singapore | 1 | 3 | 86.3 | Norway | 9 | 13 |
| 94.1 | Sweden | 6 | 4 | 85.7 | Netherlands | 12 | 14 |
| 92.6 | Switzerland | 4 | 5 | 84.4 | Finland | 19 | 15 |
| 92.0 | Taiwan | 8 | 6 | 84.1 | Malaysia | 10 | 16 |
| 90.8 | Canada | 7 | 7 | 81.6 | Israel | 17 | 17 |
| 90.2 | Qatar | 15 | 8 | 81.6 | Austria | 14 | 18 |
| 89.3 | Australia | 5 | 9 | 81.1 | China | 18 | 19 |
| 87.8 | Germany | 16 | 10 | 80.3 | UK | 22 | 20 |
| (NB. The scores are actually indices (0 to 100) generated for the unique purpose of constructing charts and graphics.) | |||||||
Additional 2011 WCY findings:
- Sweden jumps to fourth place from sixth, highlighting the competitiveness of the Nordic model
- Germany shines and gains six ranks to tenth position thanks to increased exports and a more flexible labor market
- Qatar, Korea and Turkey continue their ascent in competitiveness
Published since 1989, WCY ranks and analyzes how an economy manages the totality of its resources and competencies to increase the prosperity of its population.
"Government spending has reached new highs since the recession: on average 47 percent of the GDPs in the most advanced economies," said Professor Garelli. "It's not about the size of government, but its efficiency. In a new world of 'state capitalism,' it will become a key determinant to competitiveness."
THE GOVERNMENT - BUSINESS EFFICIENCY GAP IN 2011
(Countries with at least a 6-rank difference: full list on the website)
| Country | Government Efficiency | Business Efficiency | Difference |
| Brazil | 55 | 29 | -26 |
| Japan | 50 | 27 | -23 |
| Belgium | 39 | 23 | -16 |
| Ireland | 30 | 18 | -12 |
| USA | 19 | 10 | -9 |
| China | 33 | 25 | -8 |
| Colombia | 45 | 37 | -8 |
| Germany | 24 | 16 | -8 |
| Austria | 27 | 20 | -7 |
| Denmark | 13 | 6 | -7 |
| India | 29 | 22 | -7 |
| Taiwan | 10 | 3 | -7 |
| Argentina | 57 | 51 | -6 |
| Iceland | 40 | 34 | -6 |
| Luxembourg | 15 | 9 | -6 |
| Philippines | 37 | 31 | -6 |
The table above shows countries' rankings for Government Efficiency and Business Efficiency (two competitiveness factors drawn from the WCY 2011) and the gap between the two. All rankings are across 59 economies, in descending order from best (1st) to worst (59th).
For access to the full results and IMD's online database, please email Tracey Cassidy tcassidy@rosecomm.com.
For direct access to the US profile:
http://www.worldcompetitiveness.com/Partners/IMD_WCY11/pdf/CountryProfile/US.pdf
About IMD
Based in Switzerland, IMD is consistently top-ranked among business schools worldwide. With more than 60 years' experience, IMD takes a real world, real learning approach to executive education. IMD offers pioneering and collaborative solutions to address clients' challenges. Our perspective is international -- we understand the complexity of the global environment. Real-impact executive learning and leadership development at IMD enables participants to learn more, deliver more and be more. (www.imd.org).