Economics
U.S. Leapfrogs Singapore, Hong Kong to Win World’s Most Competitive Economy
- Faster growth propels U.S. to top for first time since 2015
- Singapore earns third place in annual rankings by Swiss group
World's Most Competitive Economies 2018
This article is for subscribers only.
The U.S. dethroned Hong Kong to retake first place among the world’s most competitive economies, thanks to faster economic growth and a supportive atmosphere for scientific and technological innovation, according to annual rankings by the Switzerland-based IMD World Competitiveness Center.
Hong Kong, scoring first in categories for government and business efficiency, held an edge over regional rival Singapore, which kept its No. 3 spot from 2017. Rounding out the top five were the Netherlands, which jumped one spot, and Switzerland, which tumbled three slots as it endures a slowdown in exports and concerns about its potential relocation of research and development facilities.