The small Alpine nation climbed from fifth to fourth place in the 63-country competitiveness ranking. It was helped by economic growth, the stability of the Swiss franc and high-quality infrastructure, IMD said on TuesdayExternal link.
Switzerland was ranked top for university and management education, health services and quality of life, it added.
Singapore was judged the world’s most competitive economy for the first time since 2010, as the United States slipped from the top spot.
Singapore got top marks thanks to its advanced technological infrastructure, the availability of skilled labour, favorable immigration laws, and efficient ways to set up new businesses, IMD said. Hong Kong held on to second place, helped by its tax and business policy environment and access to business finance.
The IMD World Competitive Rankings has been carried out every year since 1989. Countries are rated on 235 indicators, two-thirds related to employment and trade statistics and one-third to perceptions gathered in opinion surveys. IMD a leading independent business school based in Lausanne on Lake Geneva.
Swiss authorities announce cost-cutting in asylum sector
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The government notably wants to improve integration into the labour force, particularly for people with protection status S.
Various leaders confirm participation at Ukraine peace conference
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The presidents of Poland, Finland, and Latvia and the prime ministers of Spain and Belgium will be at the Swiss-hosted talks in mid-June.
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In the winter season up to April 2024, railway and cable car operators ferried 3% more visitors compared to the previous winter, and 5% more than the five-year average.
Rhine flooding: Swiss to invest CHF1 billion with Austria
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As part of an international agreement with Austria, the Swiss government wants to pump CHF1 billion ($1.1 billion) into flood protection measures along the Rhine over the next three decades.
Swiss government proposes CHF10 million UNRWA donation
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After months of debate, Switzerland plans to give CHF10 million ($11 million) to the UN agency this year, rather than the CHF20 million initially foreseen.
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A study led by the Swiss Ornithological Institute in canton Lucerne is helping to better understand the movement patterns of migratory insects.
Red Cross: 22 staff killed in Middle East since October
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The Red Cross and Red Crescent network in Gaza and Israel has lost 22 staff members since last October, the Swiss Red Cross (SRC) said on Wednesday.
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Borussia Dortmund’s Gregor Kobel has achieved history by becoming the first Swiss goalkeeper to reach a Champion’s League final.
University students in Switzerland join Gaza protest wave
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Pro-Palestinian activists occupied university buildings in Lausanne, Geneva and Zurich on Tuesday, widening the protest movement in the Alpine nation.
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Despite a slightly better score Switzerland has dropped four places as a destination for foreign direct investment over the next three years.
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Switzerland is in the throes of revamping its corporate tax system to keep it line with the competition rules of the European Union and Organisation for Economic Cooperation and Development (OECD). Many cantons are reducing their headline tax rates to make up for having to ditch special perks for multinational companies that locate offices and…
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