Finland is the 16th most competitive country in the world, according to the IMD World Competitiveness Ranking 2018.
The country slipped one place after climbing from 20th to 15th in last year’s edition of the annual ranking published by the Lausanne, Switzerland-based International Institute for Management and Development (IMD).
Petri Rouvinen, the research director at the Research Institute of the Finnish Economy (Etla), reminds in an interview with Helsingin Sanomat that the drop falls within the margin of error of the survey and is therefore not necessarily indicative of a trend of any kind.
“Also the fact that Finland’s employment situation has improved for three consecutive quarters has only had little time to have an impact on the ranking,” adds Rouvinen.
The United States overtook Hong Kong to re-claim its position at the top of the IMD World Competitiveness Ranking. The top-five was rounded out by Singapore, the Netherlands and Switzerland.
Denmark, Sweden and Norway all similarly ranked ahead of Finland, coming in 6th, 8th, and 9th respectively in what was already the 30th edition of the ranking.
The IMD World Competitiveness Ranking ranks a total of 63 economies around the world based on their ability to create a competitive business environment and, as a result, foster prosperity and generate revenues.
Aleksi Teivainen – HT
Photo: Roni Rekomaa – Lehtikuva