Denmark and Sweden ranked 3rd and 4th in the Global Competitiveness Index 2007

Denmark and Sweden holds impressive top positions in the annual Global Competitiveness Index by World Economy Forum. In the 2007 index, Sweden has climbed to position 4 after USA, Switzerland and Denmark. 

The rankings are calculated from both publicly available data and the Executive Opinion Survey, a comprehensive annual survey conducted by the World Economic Forum together with its network of Partner Institutes (leading research institutes and business organizations) in the countries covered by the Report. This year, over 11,000 business leaders were polled in a record 131 countries. The survey is designed to capture a broad range of factors affecting an economy's business climate. The Report also includes comprehensive listings of the main strengths and weaknesses of countries, making it possible to identify key priorities for policy reform.

- Economic policy, especially at the microeconomic level, needs to set priorities that reflect the most important constraints to competitiveness in each country. The GCR enables countries to move beyond abstract theoretical policy debates and identify the specific tasks ahead of them, explained Michael E. Porter, Harvard Business School Professor, and Co-Director of the Report.

- In an uncertain global financial environment it is more important than ever for countries to put into place the fundamentals underpinning economic growth and development. The World Economic Forum has for many years played a facilitating role in this process by providing detailed assessments of the productive potential of nations worldwide. The Global Competitiveness Report 2007-2008 offers policy-makers and business leaders an important tool in the formulation of improved economic policies and institutional reforms, noted Klaus Schwab, Founder and Executive Chairman of the World Economic Forum.

Top 10 Ranking

1 United States 5.67
2 Switzerland 5.62
3 Denmark 5.55
4 Sweden 5.54
5 Germany 5.51
6 Finland 5.49
7 Singapore 5.45
8 Japan 5.43
9 United Kingdom 5.41
10 Netherlands 5.40

About the Global Competitiveness Index

The Global Competitiveness Report's overall competitiveness ranking is the Global Competitiveness Index (GCI), developed for the World Economic Forum by Columbia University Professor Xavier Sala-i-Martin and originally introduced in 2004. This year's GCI has been refined based on testing and expert feedback. The GCI is based on 12 pillars of competitiveness, providing a comprehensive picture of the competitiveness landscape in countries around the world at all stages of development. The pillars include: Institutions, Infrastructure, Macroeconomic Stability, Health and Primary Education, Higher Education and Training, Goods Market Efficiency, Labor Market Efficiency, Financial Market Sophistication, Technological Readiness, Market Size, Business Sophistication and Innovation.

Read more about the Global Competitiveness Report.

Visit the World Economic Forum website.

Source: Press release, World Economic Forum, 31.10.2007