THE Institute for Management Development (IMD) has published its World Competitiveness Yearbook, providing a global reference point on the competitiveness of countries.
The yearbook provides extensive coverage of 64 economies, including South Africa. 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 said.
Switzerland ranked as the top country for the first time, in a year that reflected the impact of the Covid-19 pandemic on economic competitiveness, the IMD said.
“Switzerland has been competing with Singapore in recent years but the latter has suffered significantly on an economic level during the pandemic, as it depends
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