Two days ago, the Word Economic Forum (WEF) released its 2011-2012 Global Competiveness Index. Switzerland retained its top spot for the third consecutive year. The highest ranking Asian country is Singapore, which moved up one rank to the second position. Despite its massive economic problems, the United States still came in at No. 5.
Australia slipped 4 places from Rank 16th to 20th. The WEF commented that Australia was lagging in innovation (22nd), business sophistication (29th) and transport infrastructure, particularly seaports, which has come under strain in recent years from intensifying trade in commodities. The strengths are its efficient financial system (6th), sound and stable banking sector (4th), very good and improving performance in education (11th) and transparent, efficient public and private institutions (ranked 17th and 8th respectively).
The table below shows the top 30 rankings.
|27||United Arab Emirates||4.89||25||-2|