Denmark overtakes Switzerland as the most competitive country in the world

Denmark has overtaken Switzerland as the world’s most competitive economy after the Nordic nation outperformed its peers during the Covid-19 pandemic.

Denmark climbed from third place last year to number one in 2022 for the first time in 34 years that IMD Business School has published its global competitive rankings, According to a statement Wednesday.

Denmark is the most digitally advanced country in the world and is now number one Thanks to its good policies, advantages of being a European country, a clear focus on sustainability and a drive for a resilient business sectorArturo Bryce, a professor at IMD based in Lausanne, Switzerland, said in the statement.

Along with other Nordic countries, the Danish economy has done better during lockdowns than most of its affluent peers, aided by strong social safety nets, low debt levels and digital advances, as well as less reliance on sightseeing. And theUnemployment in Denmark is at a 14-year low, and GDP is likely to grow 3.4% this year, according to the government’s latest forecast.

nation Rank 2022 Rank 2021
Denmark 1 3
Swiss two 1
Singapore 3 5
Sweden 4 two
Hong Kong 5 7
Holland 6 4

This article was translated by Estefanía Salinas Concha.

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