Press Release
October 2005

Business conditions:

The ten most competitive countries according to the WEF are: Finland, United States, Sweden, Denmark, Taiwan, Singapore, Iceland, Switzerland, Norway and Australia.

This survey of competitiveness among more than one hundred countries is based on economic facts and questionnaire surveys and is the twenty-seventh survey of its kind that the WEF has carried out.

All the Nordic countries have made the top ten: Finland (1st), Sweden (3rd) and Denmark (4th) are followed by Iceland in 7th position and Norway 9th.

"The Nordic countries share a number of characteristics that make them extremely competitive. Among these are very healthy macroeconomic environments and public institutions that are highly transparent and efficient, with general agreement within society on the spending priorities to be met in the government budget. While the business communities in the Nordic countries point to high tax rates as a potential problem area, there is no evidence that these are adversely affecting the ability of these countries to compete effectively in world markets, or to provide to their respective populations some of the highest standards of living in the world. Indeed, the high levels of government tax revenue have delivered world-class educational establishments, an extensive social safety net and a highly motivated and skilled labour force," says Augusto Lopez-Claros, Chief Economist and Director of the World Economic Forum's Global Competitiveness Programme.

Click here to download the full rankings: www.weforum.org/pdf/Gcr/rankings