Singapore, Switzerland, and Denmark top the IMD World Competitiveness Center (WCC) ranking, followed by Ireland and Hong Kong. The adoption of AI, the risk of a global economic slowdown, and geopolitical conflicts are three trends that will have the biggest impact on companies this year, according to ECO.
Portugal has not performed so well in terms of global competitiveness since 2021, having surpassed Spain in this year's edition of the IMD World Competitiveness Center (WCC) ranking, compiled based on surveys of 6,612 executives, between March and May 2024, and the analysis of 164 statistical data, which analyses indicators such as infrastructure and economic performance in 67 economies.
Spain is in the 40th position when in the last two years it was in 36th place. Portugal rises three positions, to 36th place, recovering its 2021 performance, after 42nd place obtained in 2022 and 39th in 2023.
The increases are common to the four key indicators of the study: infrastructure (32nd to 26th), the one that records the best results; followed by economic performance (rises from 42nd to 39th), business efficiency (41st to 39th), and, finally, government efficiency (43rd to 41st), points out the study.
“The country obtained its best scores in matters of education (21st), technological infrastructures (24th), health and the environment (25th), scientific framework (25th), business legislation (25th ), and international trade (25th)”, says a statement.
Fiscal policy (58th), business management practices (46th), productivity and efficiency (45th), labour market (45th), domestic economy (44th), and finance (44th) are the indicators where the country scores worst.
