Switzerland loses global competitive edge

Switzerland's global competitiveness has slipped, according to a survey by Harvard University professors and the World Economic Forum in Geneva.

The United States has become the world’s most competitive nation while Switzerland has lost four places sliding to 10th position.

The authors of the 333-page report said countries scored well if they were judged to be innovative and effective users of technology, had high rates of saving and investment, and were well integrated in the world economy.

The US knocked Singapore out of the top spot it has occupied for the past four years.

While Switzerland remained in the top 10, it trailed the Netherlands, Ireland, Finland, Canada, Hong Kong, and Britain.

At the bottom of the chart was Equador in 59th place. Just ahead of it were Bulgaria, Ukraine, Zimbabwe and Russia.

The authors based their report on a series of analyses and indices, using statistics from the Basel-based Bank for International Settlements, the International Monetary Fund, as well as surveys of business executives and other data.

The United States and Singapore were also placed top in a survey last April, by the International Institute for Management Development of Lausanne, Switzerland.

swissinfo with agencies