The Most Competitive Economies in the World

4. Sweden
GCI score: 5.53
GDP per capita: $56,956 (8th highest)
Debt as a pct. of GDP: 37.4 Percent (64th lowest)
Individuals using Internet: 91.0 Percent (4th highest)
Infant mortality rates: 2.3 per 1,000 live births (5th lowest)

Sweden is considered the most technologically ready country scoring higher than all 144 countries on both the availability of the latest technologies and firm-level technology absorption, which is the degree that businesses use the technology available to them. When asked to name the biggest obstacle to doing business, the most common answer was tax rates. As evidence, the country’s 52.8 percent total tax rate on profits was well above that of the two most competitive countries in the world. Switzerland’s tax rate is 30.1 percent of profits, while Singapore has a tax rate of 27.1 percent.

3. Finland
GCI score: 5.55
GDP per capita: $49,350 (12th highest)
Debt as a pct. of GDP: 48.6 Percent (52nd highest)
Individuals using Internet: 89.4 Percent (7th highest)
Infant mortality rates: 2.4 per 1,000 live births (7th lowest)

Finland is the second most innovative economy in the world, only behind Switzerland. Remarkably, the country scores the highest in terms of the availability of scientists and engineers. Finland’s educational system is also impressive and the country is second highest quality math and science programs in higher education. While Finland scores relatively well across most economic measures, the countries macroeconomic environment has weakened slightly due to moderately high inflation, although the problem is not nearly as serious as it is in other countries in Europe.