World economy after Corona: Switzerland is very competitive

Economy Competitiveness Ranking

Proportional Sense in Crisis Management – Switzerland beats the rest of the world

Zurich as a place of business: For the first time, Switzerland topped the IMD University rankings

Zurich as a place of business: For the first time, Switzerland topped the IMD University rankings

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To fight the epidemic, Sweden and Switzerland controlled their populations and economies more severely than many other countries. According to one study, this has contributed to competitiveness. The results focus on the question of exploding.

D.He said European economies emerged stronger from the crisis – especially as smaller countries were more competitive than they were a year ago. Compared to other parts of the world, Germany is performing better than it was a year ago.

This is the latest “World Competitiveness Rankings Swiss University of Management IMD. Researchers at a private university in Lausanne have been researching how the 63 largest economies around the world operate as business locations for 33 years, with Switzerland topping the list for the first time this year.

Sweden and Denmark are second, third, the Netherlands fourth and Norway sixth. Singapore ranks 5th on the list outside of Europe – the Asian city government was still number one in 2020.

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The epidemic clearly shows which countries have created a particular setback to the crises in their economies – they rely heavily on short-term economic trends, explains Arturo Bris, IMD’s financial scientist at Lausanne and director of the IMD Global Competition Center.

Source: WORLD Chart

“Although Switzerland was reluctant to fight the epidemic in the first place, it did not risk its economic future by spending too much and maintaining discipline with its national debt.” According to Swiss researchers, the number of infections was smaller than expected. “The epidemic is temporary. However, competitiveness is measured in terms of long-term factors. “

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Sweden’s good performance in the rankings also includes this study – despite the high number of infections compared to the total population, the Scandinavians managed to get four places – precisely because they did not force their economy into a complete lockdown. Despite the high number of victims due to the political crisis and Govt-19, the United States was able to retain 10th place in the rankings because the economy was slightly affected by the crisis.

Peru and New Zealand are troubled

The result will lead to debate among European economic politicians and epidemiologists: How ethical was the attitude of the Swedes when they relatively accepted more victims of the epidemic because of their relatively relaxed epidemic policy, but their welfare state protected by the crisis in terms of their economy and finances?

The epidemic also gave Swiss researchers the opportunity to identify long-term crisis safety factors: particularly in countries that are strong in research and already have the technical infrastructure to move quickly to the home office. Rank or increase them. The losers were countries like Saudi Arabia, Australia, Peru and New Zealand – economies that are particularly dependent on raw material exports or tourism.

Germany has been able to grow slightly this year, but it ranks 15th in a European comparison, compared to 17th in the previous year. If the Swiss only consider one country’s economy, Germany would even rank third in the world because, according to Swiss statistics, the German economy will be relatively stable during the epidemic year 2020.

But researchers also consider factors such as bureaucracy, labor market flexibility, or a country’s digital infrastructure. Looking at Germany’s comprehensive results: Germany maintains its economic growth, but despite these factors. Because according to Lausanne, Germany is still a developing country in terms of bureaucratic performance, close to countries like Thailand, Indonesia and Saudi Arabia.

In particular, researchers view tax law as particularly negative for competitiveness; Germany ranks 57th in tax bureaucracy. In terms of infrastructure, Germany is surprisingly poor.

Health care is the most efficient and ranks fourth. In comparison, German research is also rated as highly efficient. But the technological infrastructure is at the level of middle class countries like Spain or Italy.

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Joshi Akinjide

Joshi Akinjide

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