U.S. and China both topple in rankings of the best places to work and do business. (via CNBCMakeIt)
The annual report ranks countries according to four key metrics: economic performance; government efficiency; business efficiency; and infrastructure. A combination of local and international data, as well as a survey of 5,866 executives, then ranks 63 countries against those metrics to determine the best places to do business and the locations most likely to cultivate prosperity.
"Sustaining political stability and social cohesion has been important in minimizing the uncertainty generated by the crisis," Arturo Bris, head of IMD Business School's Competitiveness Centre, told "Importantly, highly ranked countries focus on strengthening their overall health infrastructure to health needs from the pandemic."Front-runner Singapore maintained first place due to solid economic performance, strong trade ties and a high employment rate, the report found. Advanced education systems and technological infrastructure also played in its favor.
Strong economics aside, Denmark was also rated highly for its labor market and health and education systems, while Switzerland proved impressive on its scientific infrastructure, the study noted. "Deficiencies" in political stability, social cohesion, and economic and gender equality weighed on the U.S. this year, Bris noted. China dropped due to a "dwindling" of international trade, employment and labor market measures, he added.
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