Swiss-based International Institute for Management Development (IMD)
World Competitiveness Ranking 2019 said Singapore has
dethroned the US to
become the most competitive economy in the world. Hong Kong stands
second spot in the list. USA stands
third followed by Switzerland
and UAE and fourth and fifth respectively.
Qatar entered the top 10. India ranked 43, one position
higher compared to 2018.
Parameters
considered:
The ranking process considers a wide range of
hard statistics such as Gross
Domestic Product (GDP), unemployment and government
spending on health
and education. IMD also used the soft data from anExecutive Opinion Survey which
covers other parameters such as social
cohesion, globalization and corruption.
