Global Competitiveness Report

The World Economic Forum, the international nonprofit known for its annual meeting in Davos, Switzerland, has released the results of its 2007-2008 global competitiveness study. The United States ranked No. 1 in overall competitiveness, with Switzerland, Denmark, Sweden and Germany rounding out the top five. 

Describing the results, the report's co-editor Columbia University professor Xavier Sala-i-Martin said, "The efficiency of the country's markets, the sophistication of its business community, the impressive capacity for technological innovation that exists within a first-rate system of universities and research centres, all contribute to making the United States a highly competitive economy."

At the same time, researchers warned that "macroeconomic imbalances" pose a threat to the United States' competitiveness, pointing to the sub-prime mortage crisis and credit concerns. The report includes economic data on 131 countries that are compared on overall competitiveness using the Global Competitiveness Index (GCI).

The GCI is based on 12 factors believed to give a comprehensive view of the competitiveness landscape in each country. Here's a look at how the United States ranked in each area, along with the No. 1 country in those cases where it wasn't the U.S.:

  • Institutions: U.S. ranks 33rd; top spot goes to Finland
  • Infrastructure: U.S. ranks 6th; top spot goes to Germany
  • Macroeconomic Stability: U.S. sinks to 75th; top spot goes to Kuwait
  • Health and Primary Education: U.S. ranks 34th; top spot goest to Finland
  • Higher Education and Training: U.S. ranks 5th; top spot goest to Finland
  • Goods Market Efficiency: U.S. ranks 12th; top spot goes to Hong Kong
  • Labor Market Efficiency: U.S. rank 1st
  • Financial Market Sophistication: U.S. ranks 11th; top spot goes to Hong Kong
  • Technological Readiness: U.S. ranks 9th; top spot goes to Sweden
  • Market Size: U.S. ranks 1st
  • Business Sophistication: U.S. ranks 7th; top spot goes to German
  • Innovation: U.S. ranks 1st

Below's a look at the ranking of the top 10 countries in the Technological Readiness and Innovation categories.

Technological Readiness:                                            

  1. Sweden                                                                          
  2. Iceland
  3. Switzerland
  4. Netherlands
  5. Denmark
  6. Hong Kong
  7. Korea
  8. Norway
  9. United States
  10. Luxembourg

Innovation:     

  1. United States
  2. Switzerland
  3. Finland
  4. Japan
  5. Israel
  6. Sweden
  7. Germany
  8. Korea
  9. Taiwain, China
  10. Denmark

For more details, including methodology and video commentary on the results, visit the World Economic Forum's site. Published October 31, 2007.

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