LUXEMBOURG 6TH IN GLOBAL COMPETITIVENESS RANKING
Luxembourg reached the top ten, jumping from 11th to 6th place of the World Competitive-ness Yearbook, thanks to improvements in business efficiency and more positive economic outlook in the country.
The rating includes 61 countries in total, and is carried out by the Swiss International Institute for Management Development. This year results make the Grand Duchy the most competitive country in the EU and second in Europe, only to be outdone by Switzerland.
The top five also include the US, China and Hong Kong, Singapore and Canada. The top ten are concluded by Norway, Denmark, Sweden and Germany.
Luxembourg’s other neighbours did not fare as well, with Belgium ranked 23rd (up from 28 last year) and France dropping five spots to 32nd place.
The ranking for Luxembourg is its best since 2008. During the financial crisis it crashed out of the top ten to 12th place in 2009, reaching its lowest ranking in 2013 (13).
The study assesses some 300 different criteria with four main factors analysed – economic performance, government efficiency, business efficiency and infrastructure