By Shubhendra Anand, 12 July, 2023
International Institute for Management Development (IMD) published its World Competitiveness Ranking on June 2023 by evaluating 64 economies worldwide based on four broad categories: economic presentation, infrastructure, and efficiency of both business and government sectors. IMD provides insights into the market trends along with the economies' statistical data and survey reports. The organization analyzes the data and ranks different countries based on their strategies to manage their expertise for long-term productivity.
The World Competitiveness Ranking 2023 states that citizens' quality of life can be achieved with agile governance and better market access. Also, the report paves the way for sailing across a "fragmented" world while explaining global economic competitiveness. According to the news by IMD, Ireland, Denmark, and Switzerland are the top three ranking economies in the World Competitiveness Ranking among the 64 countries measured for their global competitiveness in 2023.
IMD has evaluated 64 countries based on 300 indicators, and the survey results account for two-thirds of the final ranking. The survey reports also reveal Australia's worst results due to entrepreneurship and ranked 62nd among 64 countries. According to one of the officials, high goods prices and stable job markets boost Australia's competitiveness, but it is insufficient to depend on traditional trade strengths. Asia's Singapore, Hong Kong, and Taiwan are among the top ten countries on the list of the World Competitiveness Ranking. Still, China, Japan, India, and South Korea are absent despite being the largest economies of Asia.
Shubhendra Anand
Head Research
Accenture and Coca-Cola Bottlers Japan joined in a new venture in August 2023. The new collaboration will initiate in January 2024 to help Coca-Cola Bottlers Japan Group's goal to set itself as a data-driven firm having back-office operations and…
The world's largest oil producer, Saudi Aramco, has released the results from the second quarter and half year of 2023. The gains have dropped by 30 percent in the initial six months of 2023. The prices of crude oil have declined due to geopolitical…
The Semiconductor Industry Association (SIA) in the United States has released a statement to set up new rules and actions for the outbound investment screening in August 2023. The US has targeted China, with developments coming further on releasing…
Accenture announced to invest USD 3 billion in artificial intelligence (AI) practices in 2023 to provide new industry solutions and previously built models that will provide companies across nineteen industries to drive value and accelerate clients.
…