International Institute for Management Development: World Competitiveness Yearbook (WCY) 2022

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According to the latest World Competitiveness Yearbook (WCY) 2022, published by the International Institute for Management Development, Hong Kong’s ranking improved from seventh last year among 63 economies. Denmark was ranked top, followed by Switzerland, Singapore and Sweden.

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The IMD World Competitiveness Yearbook (WCY), first published in 1989, is a comprehensive annual report and worldwide reference point on the competitiveness of countries. It provides benchmarking and trends, as well as statistics and survey data based on extensive research. It analyzes and ranks countries according to how they manage their competencies to achieve long-term value creation. An economy’s competitiveness cannot be reduced only to GDP and productivity because enterprises also have to cope with political, social and cultural dimensions. Governments therefore need to provide an environment characterized by efficient infrastructures, institutions and policies that encourage sustainable value creation by the enterprises.

The IMD World Competitiveness Rankings emphasize a long-term trend highlighted in past editions – that the countries on the top of the list each have a unique approach to becoming competitive.

The Yearbook provides extensive coverage of 63 economies, chosen based on the availability of comparable international statistics and our collaboration with local Partner Institutes, which contribute to the collection of survey data and ensure that all data are reliable, accurate and as up-to-date as possible. This year, we have the privilege of collaborating with a unique global network of Partner Institutes in 56 countries.

The World Competitiveness Ranking is based on 333 competitiveness criteria selected as a result of comprehensive research using economic literature, international, national and regional sources and feedback from the business community, government agencies and academics. The criteria are revised and updated on a regular basis as new theory, research and data become available and as the global economy evolves.

Download list of criteria used in 2022 (PDF, 147 kb)

https://www.imd.org/centers/world-competitiveness-center/rankings/world-competitiveness/

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