Denmark has second most competitive economy in the EU
Denmark is number two among the EU-28 for managing its resources and competencies to facilitate long-term value creation according to the top global Swiss business school IMD.
As part of its annual ranking of 61 economies worldwide, the IMD ranks each country based on an analysis of over 340 criteria derived from four principal factors: economic performance, government efficiency, business efficiency and infrastructure.
Denmark’s position is based on top rankings within three of the four main categories; government efficiency, business efficiency and infrastructure. These categories cover areas such as adaptability of companies to market changes, government policies, worker motivation and skilled labour.
Globally, the 2016 edition ranks Hong Kong first, Switzerland second and the US third, with Singapore, Sweden, Denmark, Ireland, the Netherlands, Norway and Canada completing the top 10.
A question of business friendly regulations and infrastructure
The 2016 IMD rankings highlight one particular commonality among the best ranking countries, including Denmark. They are all top performers in terms of government efficiency and infrastructure.
The Danish Minister for Foreign Affairs, Kristian Jensen, has previously stated that he hopes that the recurring international recognition of the Danish business climate will attract more foreign investors:
Creating the best conditions for a striving business sector is a key priority for the Danish Government, and I am very pleased to see that our efforts resonate in international rankings. We are determined to make it even easier and more worthwhile to do business in Denmark and to attract more foreign investments.
For the past five years, Denmark has continuously achieved top position among European countries in the World Bank’s Ease of Doing Business Index and has furthermore, for the last two years, been awarded 'world’s best country for business' by Forbes.
2016 World Competitiveness Index Top 10:
- Hong Kong
- Switzerland
- USA
- Singapore
- Sweden
- Denmark
- Ireland
- Netherlands
- Norway
- Canada
fact About the IMD World Competitiveness ranking
The IMD World Competitiveness Yearbook measures how well countries manage all their resources and competencies to facilitate long-term value creation. The overall ranking released today reflects more than 300 criteria, approximately two-thirds of which are based on statistical indicators and one-third on an exclusive IMD survey of some 5,400 business executives.