Luxembourg holds its ground on competitiveness
Luxembourg has retained its competitive edge it would appear after remaining in 22nd place in the World Economic Forum's (WEF) competitiveness rankings for a second year.
Top spot was occupied for the fifth year by Switzerland, meanwhile France appears to have lost its footing this year, dropping from 21st place to 23rd.
The decline off the latter is all the more notable when you consider that France occupied 18th place in 2011. However, the study shows that France's score of 5.1 out of 7 did not worsen, simply the fall is related to improved economic performances from competing countries.
Second place this year went to Singapore, followed by Finland, Germany (rising two places) and the United States.
Among emerging economies, Brazil fell eight places (56th). Indonesia was G20 country which increased the most since 2006 (38th, up twelve places this year) while South Korea fell by six places (25th).
The WEF index was created in 2004 and rates countries based on 100 economic indicators.
Its 2013 report said that governance and innovation were considered the most important factors for competitiveness.
To view the report, visit www.weforum.org