Australia rises in global competitiveness
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15 May 2008
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Australia has risen by five places to be ranked seventh in the 2008 Institute for Management Demand (IMD) World Competitiveness Yearbook, in the 20th anniversary release of the reputable global scorecard.
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Competitiveness is calculated by combining measures of economic performance, government efficiency, business efficiency and infrastructure. Australia improved in three out of the four key indicators and maintained its ranking for infrastructure.
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Australia scored particularly well in business efficiency, recording strengths in prioritising the attraction and retention of talent. It was also noted that highly skilled foreign workers are attracted to Australia’s business environment.
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Overall, Australia remains ahead of Canada, Sweden and The Netherlands, who round out the top ten, with the USA remaining in top position, as it has done since 1993. The Yearbook ranked 55 countries in total.
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The IMD World Competitiveness Yearbook is a comprehensive report on the competitiveness of nations, published since 1989. It provides several customised rankings, including size, wealth and region, as well as country competitiveness profiles and analysis.
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