The Most Competitive Economies in the World

8. United Kingdom
GCI score: 5.45
GDP per capita: $38,592 (22nd highest)
Debt as a pct. of GDP: 82.5 Percent (18th highest)
Individuals using Internet: 82.0 Percent (14th highest)
Infant mortality rates: 4.6 per 1,000 live births (29th lowest)

The United Kingdom scored the best in labor market efficiency, ranking fifth. While the country scores well in many areas, it also has weaknesses. Like many of the other countries in Europe, the U.K. faces a challenging macroeconomic environment. U.K. in the top 20 of all 144 countries and its debt is 82.5 percent of GDP. Regardless of severity measures underway, the country’s Office of Budget Responsibility notes that finances are “clearly unsustainable” over the coming 50 years, and tax increases, spending cuts or a combination of both will be necessary in the future to maintain long-term fiscal health. Of course, tax hikes may not go over well with residents. Taxes, along with access to financing, were considered the greatest obstacle to doing business in the U.K.

7. United States
GCI score: 5.47
GDP per capita: $48,387 (14th highest)
Debt as a pct. of GDP: 102.9 Percent (9th highest)
Individuals using Internet: 77.9 Percent (20th highest)
Infant mortality rates: 6.5 per 1,000 live births (41st lowest)

The U.S. has the world’s largest GDP and is also the world’s second-largest exporter, trailing only China. In addition to being big, the country ranks in the top 10 for innovation. Collaboration between research universities and private industry on research and development was especially strong, ranking third in the world only behind Switzerland and the U.K. The U.S. also ranked fifth for the availability of engineers and scientists, another measure that further supports future innovation. However, the country’s competitiveness may be undermined by a government deficit that, at 9.6 percent of GDP in 2011, was proportionally one of the largest in the world.