WEF: Global Competitiveness Report 2012-13

06 September, 2012

According to the Global Competitiveness Report 2012-13 just published by the World Economic Forum, Luxembourg ranks 22nd out of 114 countries.

The Grand Duchy scores highly in technological readiness, macroeconomic environment, health and primary education, with specific strengths in property rights (ranked 4th), organised crime (2nd), prevalence of foreign ownership (1st), buyer sophistication (3rd), affordability of financial services (3rd), infant mortality (3rd), staff training (4th), regulation of security exchange (4th) and individuals using the Internet (5th).

Switzerland retained top spot in the table for the fourth year in a row, with Singapore also staying in second. Finland jumps ahead of Sweden to take 3rd place.

The introduction to the report addresses the issues of economic uncertainty and weak recovery with fiscal tightening dampening the growth outlook.

The twelve pillars of competitiveness were identified as institutions, infrastructure, macroeconomic environment, health and primary education, higher education and training, goods market efficiency, labour market efficiency, financial market development, technological readiness, market size, business sophistication and innovation.

Luxembourg improves one position compared to the previous edition of the Global Competitiveness Report.

To read the full report, please click here