Finland the most competitive economy in Europe
Finland has been ranked as Europe’s most competitive country by Word Economic Forum’s The Europe 2020 Competitiveness Index which ranks competitiveness of European Union member states.
Finland scores 5.7 points out of 7, and is followed by Sweden on the second place (5.55) and the Netherlands on the third (5.41). Finland was the highest ranking country in smart growth, digital agenda, innovation, education and training and social inclusion.
Acoording to the Europe 2020 Competitiveness Report, Finland remains one of the innovation powerhouses in Europe, ranking 1st in the innovative Europe pillar, and a global leader in moving towards a digital economy.
The report highlights that Finland’s enterprise environment fosters business creation, and has a well-functioning labour market and relatively strong labour market participation. Moreover, Finland’s number two ranking in the sustainability component demonstrates that the country’s economic prowess does not come at the expense of environmentally sustainable practices and outcomes.
The report evaluated countries based on several pillars including enterprise environment, digital agenda, innovation, education and training, labour market and employment and social inclusion.