Ukraine’s Business Efficiency Boosts Up Its Competitiveness Ranking

27 June 2018

According to the official press release on publication of the IMD’s Competitiveness Yearbook 2018 Ukraine improved its position due to the business efficiency. The MIM Business School represented Ukraine on that raking as it has been a tradition since 2006.

The 30th Yearbook edition aimed at helping the nations to prosper and improve quality of life. The ranking is hoped to become a working tool of the economic policy. Top 5 countries are the United States followed by Hong Kong, Singapore, the Netherlands and Switzerland. “Countries at the top of the rankings share an above the average performance across all competitiveness factors, but their competitiveness mix varies. One economy, for example, may build its competitiveness strategy around a particular aspect such as its tangible and intangible infrastructure; another may approach competitiveness through their governmental efficiency,” Professor Arturo Bris, Director of the IMD World Competitiveness Center, says.

The IMD World Competitiveness Center, a research group at IMD business school in Switzerland, has published the rankings every year since 1989. It compiles them using 258 indicators. ‘Hard’ data such as national employment and trade statistics are weighted twice as much as the ‘soft’ data from an Executive Opinion Survey that measures the business perception of issues such as corruption, environmental concerns and quality of life. This year 63 countries are ranked.