Man smiling and looking up from his phone
 Finland’s business efficiency was ranked highly in this year’s ranking and its societal framework was deemed to be the world’s best. Image: Adobe

Finland retains its global competitiveness

The IMD World Competitiveness Yearbook has ranked Finland eighth in its annual global comparison of the competitiveness of countries.

James O’Sullivan

29.06.2022

The World Competitiveness Ranking analyses and ranks countries according to how they manage their competences to achieve long-term value creation. This year, a total of 63 economies were assessed, with Finland rising three places to eighth position.

The countries were listed according to their performance across the four main pillars of economic performance, government efficiency, business efficiency and infrastructure.

Of these, Finland placed best worldwide in infrastructure (fourth), which also contained impressive results in the sub-indices of technological infrastructure (second), education (third), and health and the environment (third).

Finland’s business efficiency was rated fifth globally, and its societal framework was the world’s best. Government efficiency here came in 10th position by comparison. There is still some room for improvement in Finland’s overall economic performance, however, where it languished in 44th position.

Denmark was placed first overall for the first time in the survey’s 34-year history, followed by Switzerland and Singapore.

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