Among the reasons for the drop are Switzerland’s comparatively high prices and the weakening economic efficiency during the Covid pandemic, according to the reportExternal link published on Wednesday.
However, Switzerland fared particularly well in government efficiency and quality of technical infrastructure compared with its peers.
Denmark was awarded first place in 2022 ahead of Switzerland, Singapore, Sweden, Hong Kong and the Netherlands.
It is the first time in the 34 years that the Swiss-based school gave the Nordic country the lead in the annual competitiveness report.
“Denmark is the most digitally advanced country in the world and now takes the top spot thanks to good policies, advantages afforded by being a European country, a clear focus on sustainability and a push from its agile corporate sector,” IMD’s Arturo Bris in a statement.
The report notes that inflationary pressures were having a greater impact on businesses than concerns about greenhouse gas emission and the widening gap between the rich and the poor.
Swiss money laundering office registers record number of reports
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The Money Laundering Reporting Office Switzerland (MROS) registered a record number of reports of suspicious activity last year.
Two teens accused of planning terror attack released from custody
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The Schaffhausen judiciary has released the two teenagers from custody who allegedly planned bomb attacks in Switzerland.
OECD: Sluggish economic activity slowing growth in Switzerland
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Sluggish economic activity at the start of the year is weighing on growth in Switzerland, with GDP expected to fall to 1.1% in 2024.
Report finds mistakes which led to Swiss government data breach
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Mistakes were made by both the government and internet company Xplain in the case of a criminal cyber-attack on the Bern-based IT business.
Swiss government wants better gender balance in federal administration
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New Swiss government personnel management targets say there must be even more female managers in the federal administration.
Swiss national science foundation funded over 5,000 projects in 2023
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In 2023, the Swiss National Science Foundation (SNSF) provided a total of CHF961 million worth of funding towards research projects.
Switzerland invites 160 delegations to June Ukraine peace talks
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Russia is currently not among the delegations invited to talks aimed at helping bring about peace in the conflict between Moscow and Ukraine.
Survey: air travel most popular way to go on holidays for Swiss
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Despite the climate crisis, flying is the most popular mode of transport for private travel – particularly among young, urban and high-income travellers.
Swiss government to use phone data to identify asylum seekers
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From April 2025, authorities plan to be able to analyse data from mobile phones, computers and other data carriers to identify asylum seekers.
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Switzerland ranked third in global competitiveness ranking
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The Alpine nation has been awarded third place in the “World Competitiveness ranking 2020” compiled by the Lausanne-based IMD business school.
Switzerland ranked world’s fourth most competitive economy
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Switzerland is Europe’s most competitive nation, coming fourth in the annual ranking of the Lausanne-based IMD business school.
Swiss rank among top ten FT European business schools
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Two Swiss institutions, the University of St Gallen and the IMD in Lausanne, are among the ten best European business schools, says the FT.
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