Graphic shows ranking of the top 40 economies according to the International Institute for Management Development (IMD) World Competitiveness Center, an annual ranking of 61 nations.
ECONOMY
Competitiveness scoreboard 2016
By Jordi Bou
May 31, 2016 - The U.S. was knocked out of the top spot of the world’s most competitive economies – a position it has held since 2013 – after being overtaken by Hong Kong and Switzerland.
Hong Kong’s role as the gateway to the economic might of the Chinese mainland, as well as the rest of Asia, gives it fuel for its economic machine, says Professor Arturo Bris, director of the Switzerland-based International Institute for Management Development (IMD).
“Hong Kong has an amazing regulatory system,” Bris said. “Business-friendly, promoting competition, and at the same time investing in public education.”