The International Institute for Management Development (IMD) in Switzerland has recently released the rankings for the world’s most competitive economies for 2024. The ranking is divided into four key areas: economic performance, government efficiency, business efficiency, and infrastructure.
Surprisingly, the top 10 is dominated by smaller economies, challenging the notion that economic competitiveness is solely based on size. The researchers emphasize the importance of adaptability to changing economic conditions for high rankings in the list.
Arturo Bris, the director of the IMD World Competitiveness Centre, predicts that the most competitive economies in the future will be those that can anticipate and adapt to the evolving global landscape while also prioritizing the value and well-being of their citizens.
If you’re curious to see where Australia falls on the list, click through to find out!