World Economic Forum: The Global Competitiveness Report 2013-2014 ranks Finland as number 3,  Sweden number 6, Norway number 11 and Denmark number 15 by their competitiveness.

Finland has kept its place as the third most competitive country in the world, and is the most competitive country in Eurozone. The report’s Global Competitive index (GCI) placed Switzerland as the most competitive country in 5th year running, and Singapore maintained its second position. This year’s report includes record number of 148 countries.

The Index measures competitiveness in terms of transparency of institutions, infrastructure, macroeconomics, health and education, labour market efficiency, innovation and technological readiness amongst other things. The GCI-Index ranks Finland as a top country in transparency of public institutions, health and primary and the higher education.

The report states that the “country boasts well-functioning and highly transparent public institutions and also seem to be among the best run and most ethical in the world.”

It also praises Finland’s workforce by observing that “Finland has a workforce with the skills needed to adapt rapidly to a changing environment and has laid the groundwork for high levels of innovation, allowing Finland to become a highly innovative economy.”

World’s 20 most competitive countries:

1.    Switzerland
2.    Singapore
3.    Finland
4.    Germany
5.    United States
6.    Sweden
7.    Hong Kong
8.    Netherlands
9.    Japan
10.   United Kingdom
11.   Norway
12.    Taiwan
13.    Qatar
14.    Canada
15.    Denmark
16.    Austria
17.    Belgium
18.    New Zealand
19.    United Arab Emirates
20.    Saudi Arabia

Source: Good News from Finland, www.goodnewsfinland.com and World Economy Forum: www.weforum.org