IMD WORLD COMPETITIVENESS

1 Factor I: Economic PerformanceIMD WORLDCOMPETITIVENESSYEARBOOK2021 SAMPLE20212021 IMD WORLDCOMPETITIVENESSYEARBOOKIMD WORLD COMPETITIVENESS YearbookIMD WORLDCOMPETITIVENESSYEARBOOK2021 June 2021 IMD WORLD COMPETITIVENESS YEARBOOK 2021 ISBN-13 978-2-9701085-9-7 ISSN 1026-2628 Copyright 2021 IMD International Institute for Management Development23, Ch. de Box 915CH-1001 LausanneSwitzerlandTel : +41 21 618 02 51e-mail , IMD INTERNATIONAL REAL LEARNING. REAL IMPACT, IMD BUSINESS SCHOOL and IMD WORLD COMPETITIVENESS YEARBOOK are trademarks of IMD International Institute for Management DevelopmentChoose the product that meets your needsVisit our the pages of this publication a year ago, we were outlining the beginning of what seemed to be a health and economic crisis.

2 We were speaking about the pandemic that was on our doorsteps while political leaders worldwide used different strategies to contain the infections and protect the citizens of their countries. Here we are, a year later, and COVID remains one of the most important challenges for the WORLD economy according to most surveyed executives in highly competitive economies. This highlights the underlying finding that economies that performed well in the first wave of the pandemic found themselves in challenging times in the second or third are pleased and proud to present the IMD WORLD COMPETITIVENESS Yearbook 2021. The IMD WORLD COMPETITIVENESS Center team is dedicated to assessing how economies fared in generating long-term value for their citizens.

3 This year we have the pleasure of welcoming a new economy in the group of countries we study, botswana , increasing the total number to 33rd edition of this publication is launched at a most critical moment for the whole WORLD . The presence of the pandemic challenged all the economies on how to cope with the consequences of COVID. The results show that the agility of an economy, its access to a diversified portfolio of goods produced and trade partners, and its capacity to support its citizens to face the pandemic, have been essential for navigating the know how privileged we are to enjoy the support of a substantial group of stakeholders. Our Partner Institutes coordinate part of the demanding task to gather and validate the necessary data employed; The IMD Alumni community and our Panel of Experts from all the countries who respond to our questionnaire; The IMD faculty and staff that support us, and provide feedback.

4 We are fortunate and honored for their continuous collaboration. This year, once again, they managed to make us feel that it was business as usual and not a uniquely complicated, and difficult environment working remotely to create the Yearbook. The reason you have this publication in your hands now is, for a great part, because of our stakeholders. We are grateful!Professor Arturo BrisDirectorIMD WORLD COMPETITIVENESS CenterDr Christos CabolisChief Economist & Head of OperationsIMD WORLD COMPETITIVENESS CenterIMD WORLD COMPETITIVENESS YEARBOOK 2021 Table of ContentsPreface ..3 The IMD WORLD COMPETITIVENESS Center ..7 Partner Institutes ..8 User Guide ..14 Overall and Breakdown Rankings ..15 COMPETITIVENESS Country Profiles ..16 Statistical Tables.

5 21 COMPETITIVENESS under duress: Global trends in the COVID era ..22 Rankings in a nutshell ..33 The 2021 IMD WORLD COMPETITIVENESS Ranking ..34 Methodology in a Nutshell ..36 What is the IMD WORLD COMPETITIVENESS Ranking? ..37 Selected Breakdowns ..38 COMPETITIVENESS country Scoreboard ..314 Statistical tables Factor I: Economic performance ..317 Appendices ..511 Criteria Excluded From Profiles ..512 International and Regional Organizations ..513 National Sources ..515 Notes and Sources by Criteria ..518 Index to Criteria ..546 IMD WORLD COMPETITIVENESS YEARBOOK 20214 The IMD WORLD COMPETITIVENESS CenterFor more than thirty years, the IMD WORLD COMPETITIVENESS Center has pioneered research on how countries and companies compete to lay the foundations for sustainable value creation.

6 The COMPETITIVENESS of nations is probably one of the most significant developments in modern management and IMD is committed to leading the field. The WORLD COMPETITIVENESS Center conducts its mission in cooperation with a network of 58 Partner Institutes worldwide to provide the government, business and academic communities with the following services: COMPETITIVENESS Special Reports COMPETITIVENESS Prognostic Reports Workshops/Mega Dives on COMPETITIVENESS IMD WORLD COMPETITIVENESS Yearbook IMD WORLD Digital COMPETITIVENESS Ranking IMD WORLD Talent RankingThe IMD WORLD COMPETITIVENESS Center team:At IMD Professor Arturo Bris Director of The IMD WORLD COMPETITIVENESS CenterChristos Cabolis Chief Economist & Head of OperationsJos CaballeroSenior EconomistMadeleine Hediger Data Research and Online Services SpecialistCatherine Jobin Order and Sales AdministratorWilliam Milner Research Projects Associate ManagerMarco PistisResearch SpecialistMaryam ZargariResearch SpecialistAt KAESCO Jean-Fran ois KaeserConsultingWe also have the privilege of collaborating with a unique network of Partner Institutes, and other organizations, which guarantees the relevance of the data gathered.

7 Contact:Tel : +41 21 618 02 51e-mail WORLD COMPETITIVENESS YEARBOOK 2021 IMD WORLD COMPETITIVENESS YEARBOOK 20218 Argentina Research Program on Economic Development and Institutions Faculty of Economic SciencesCatholic University of Argentina, Buenos Alicia Caballero, DeanDr. Marcelo F. Resico, Senior EconomistMrs. Martina S. Rosenfeld, Research AssistantAustraliaCEDA Committee for Economic Development of Wilson, Senior EconomistRoxanne Punton, Director, CommunicationsAustriaFederation of Austrian Industries, ViennaAustrian Institute of Economic Research, Christian Helmenstein, Chief EconomistMs. Helena ZwicklMr. Michael OliverBelgiumFEB - Federation of Enterprises in Belgium, Boukamel, Attach Centre de comp tence Economie & ConjonctureBotswanaBNPC - botswana National Productivity Batsetswe, Research ConsultantChristopher M.

8 Diswai, Executive DirectorBrazilFunda o Dom Cabral, Innovation and Entrepreneurship Arruda, Professor and Director FDC Innovation and Entrepreneurship CenterAna Burcharth, ProfessorNaira T. A. C. Gon alves, ResearcherBulgariaCenter for the Study of Democracy, Chamber of Commerce and IndustryEconomic Analysis and Policy Ruslan Stefanov, Director, Economic ProgramMs. Daniela Mineva, Research Fellow, Economic ProgramMr. Martin Vladimirov, Analyst, Economic ProgramDr. Todor Galev, Senior Analyst, Economic ProgramBlagovesta DzhabirovaLyubomir LevicharovCanadaInformation and Communications Technology Council (ICTC) Cutean, Senior Director of Research & Policy Rosina Hamoni, Research AnalystChileUniversidad de ChileFacultad de Econom a y Negocios (FEN) Enrique Manzur, Vice DeanDr.

9 Sergio Olavarrieta, Program DirectorDr. Pedro Hidalgo, Department HeadChinaChina Institute for Development Planning, Tsinghua UniversityProf. Yang Yongheng, Executive Associate Director of China Institute for Development Planning, Tsinghua UniversityProf. Wang Youqiang, Associate Director of China Institute for Development Planning, Tsinghua UniversityDr. Gong Pu, Research Assistant Professor, Tsinghua UniversityPartner InstitutesWe would like to express our deep appreciation for the contribution of our Partner Institutes, enabling an extensive coverage of COMPETITIVENESS in their home countries. The following Institutes and people supplied data from national sources and helped distribute the survey questionnaires:IMD WORLD COMPETITIVENESS YEARBOOK 20219Mr.

10 Wang Hongshuai, PhD Candidate, Tsinghua UniversityMs. Song Wenjuan, PhD Candidate, Tsinghua UniversityMs. Zhang Ruijun, PhD Candidate, Tsinghua UniversityMr. Wang Jiancheng, PhD Candidate, Tsinghua UniversityMs. Jiang Xueying, PhD Candidate, Tsinghua UniversityMr. You Shuai, PhD Candidate, Tsinghua UniversityMs. Sun Xiao, Graduate Student, Tsinghua UniversityMs. Zhu Yichen, Graduate Student, Tsinghua UniversityMs. Huang Suyuan, Research AssistantMs. Deng Yaxi, Research AssistantColombiaNational Planning Alberto Rodr guez, Director, National Department of PlanningJuan Sebasti n Robledo Botero, Director, Innovation and Private Sector Development CroatiaNational COMPETITIVENESS Mudrinic, PresidentJadranka Gable, AdvisorIva Tomic, PhD, Chief EconomistCyprusEconomics Research Centre, University of Employers and Industrialists Federation (OEB) Clerides, Professor of EconomicsNicoletta Pashourtidou, Assistant DirectorAntonis FrangoudisCzech Republic Consumer Forum (Spot ebitelsk f rum) Kry tof Kruli Denmark Confederation of Danish S rensen, Chief EconomistEstonia Estonian Institute of Economic Research (EKI) Estonia (EAS) Ms.