Switzerland rises in competitiveness table

A new survey for the first time places Switzerland among the top five most globally competitive countries. However, the report by the Lausanne-based International Institute for Management Development (IMD) says Switzerland could do better.

A new survey for the first time places Switzerland among the top five most globally competitive countries. However, the report by the Lausanne-based International Institute for Management Development (IMD) says Switzerland could do better.

The United States leads the league table of 47 countries, which is compiled using 290 criteria. Switzerland moves up one place to fifth this year, behind Singapore, Finland and the Netherlands.

The report notes the progress made by Switzerland, but says it must do more to improve its competitiveness, despite suffering from a shortage of IT specialists.

The IMD recommends in particular increased investment in capital risk ventures, where Switzerland comes only 25th. It also underlines that labour costs are higher in Switzerland than anywhere else.

On the question of international relations, Switzerland has become more open, moving up from 39th to 27th place. The IMD says that if voters ratify the bilateral accords with the European Union next month, Switzerland should further improve its standing.

swissinfo with agencies