by Malcolm Curtis|The Local Switzerland|September 4, 2013
Switzerland remains on top in the 2013-14 Global Competitiveness Report, issued on Wednesday by the Geneva-based World Economic Forum.
For the fifth year in a row, Switzerland headed the rankings of the WEF’s annual global competitiveness index, ahead of Singapore, Finland, Germany, the United States and Sweden.
Six of the top ten countries listed are European countries, including eighth-ranked Netherlands and the United Kingdom (tenth).
The competitiveness report praised Switzerland’s “excellent institutions, the dynamism of its markets, and its capacity for innovation.”
Several years ago, the country’s implementation of a “debt brake” on government spending created a stable macroeconomic environment, which has allowed the Swiss to grow while neighbouring countries are struggling, the report noted.
But it said there are many factors contributing to the Swiss success “and one cannot point to a single factor”.
It lauded Switzerland’s “effective and transparent” public institutions, as well as its positive environment for businesses.
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