Home Business NewsEconomic News The world’s most competitive economies revealed – but where does the UK stand?

The world’s most competitive economies revealed – but where does the UK stand?

by LLB Editor
3rd Sep 14 11:45 am

The UK is now the ninth most competitive economy in the world, according to the World Economic Forum.

This is particularly good news as the UK registered fastest economic growth in six years.

Britain moved from 10th place last year to ninth because of the government’s efforts to improve fiscal deficit, a lower public borrowing, an efficient labour market and the City’s status as a financial hub.

“[The UK] benefits from an ICT uptake that is one of the highest in the world. That, coupled with a highly competitive and large market, allows for highly sophisticated and innovative businesses to spring up and develop,” the report said.

Here are the 10 most competitive economies in the world:

Switzerland

Singapore

United States

Finland

Germany

Japan

Hong Kong

Netherlands

United Kingdom

Sweden

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