The 2024 World Competitiveness Ranking by the International Institute for Management Development (IMD), released on Tuesday, highlights Singapore, Switzerland, and Denmark as the world's most competitive economies, while the US dropped out of the top 10 for the first time.
According to the International Institute for Management Development's (IMD) 2024 World Competitiveness Ranking, which was released on Tuesday, Singapore, Switzerland, and Denmark have the most competitive economies in the world. Singapore soared from fourth place to the top of the list, largely due to extremely high scores in government and business efficiency, whereas Denmark fell two slots from its position as the top country in 2022 and 2023.
The first thing that strikes one when examining this year's top performers is that, as Felix Richter of Statista notes, they are all relatively tiny economies, which allows them to respond more quickly in the current fast-paced, globalized economy.
According...
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