Political economy|The three most competitive countries in the world are Singapore, Switzerland and Denmark.
Finland the ranking in the competitiveness comparison of the Swiss University of Economics IMD weakened this year. Finland is the 15th most competitive country in the world. Last year, Finland was ranked 11th.
According to IMD, the Nordic countries that are more competitive than Finland are Denmark, Sweden and Norway. Denmark ranked third in the comparison, Sweden sixth and Norway tenth.
By comparison, the most competitive country in the world is Singapore, and the second is Switzerland. In 2022–2023, Denmark was number one in the comparison.
Finland key strengths are the good education level of the population, reliable infrastructure, trained workforce, political stability and predictability, and an efficient legal system.
Weaknesses include managing geopolitical risks and their economic effects, reducing the indebtedness of public finances, reforming social benefits and dismantling incentive traps, and promoting corporate research and product development.
of IMD the comparison mainly evaluates how states and companies as a whole utilize their abilities to achieve wealth and profits. Although IMD emphasizes long-term structural competitiveness, its comparison includes many factors of short-term cost competitiveness.
Cost competitiveness means the prerequisites for companies to succeed in international competition.
#National #Economy #Finlands #competitiveness #weakened #international #comparison
