Finland has moved up to 14th place in the World Competitiveness Ranking, regaining some ground after last year’s drop to 15th, according to figures published by the Research Institute of the Finnish Economy (Etla).
The ranking is compiled annually by the International Institute for Management Development (IMD) and assesses 69 economies across more than 330 indicators. Finland's position now matches its standing from the pre-pandemic period.
Finland recorded improvements in several areas, including international investment, price development and the legal framework for business. However, the country saw its largest decline in employment-related indicators.
Ville Kaitila, senior researcher at Etla, said the recent weakness in Finland’s economy continues to affect the rankings. “Many of the indicators are cyclical, but there are also signs of structural deterioration in areas like technological infrastructure and education,” he said. “These will have a delayed but damaging effect on economic growth.”
Finland’s performance in tax policy has also shown a consistent downward trend.
The top five countries in this year’s ranking are Switzerland, Singapore, Hong Kong, Denmark and the United Arab Emirates.
HT