October 09, 2008
The Global Competitiveness Report 2008-2009
The top 5 countries of the overall ranking in the Global Competitiveness Report 2008-2009 of the World Economic Forum are:
As I live in Switzerland, I found it interesting to have a closer at what was written in the report about this great country. Here's an extract:
”Switzerland retains the same ranking as last year, second only to the United States. Similar to the United States, Switzerland’s economy is characterized by an excellent capacity for innovation and a very sophisticated business culture, ranked 2nd for its business sophistication and 3rd for its innovation capacity.The country is characterized by high spending on R&D. Switzerland’s scientific research institutions are among the world’s best, and the strong collaboration between the academic and business sectors ensures that much of this research is translated into marketable products and processes, buttressed by strong intellectual property protection.This strong innovative capacity is captured by the high rate of patenting in the country, for which Switzerland ranks 6th worldwide on a per capita basis.
Switzerland’s public institutions are rated among the most effective and transparent in the world (4th), ensuring a level playing field and enhancing business confidence, including an independent judiciary, a strong rule of law, and strong accountability of the public sector. Competitiveness is also buttressed by excellent infrastructure and labor markets that are among the most flexible in the world, both ranked 3rd overall. And Switzerland’s macroeconomic environment receives excellent marks (ranked 10th), attributable to a government budget surplus, high national savings, low interest rates, and low inflation at a time when inflation is rising around the world. On the other hand, the relatively low university enrollment rate - just shy of 46 percent - places the country 45th on this indicator. Efforts should be made to boost higher education attainment to provide more home-grown talent with the necessary skills for innovative activities.”