Moving up one spot from last year’s position, Hong Kong grabs the second highest spot in a world competitiveness ranking done by the Institute of Management Development (IMD). The 2010 World Competitiveness Yearbook ranked Singapore in first place as it too moved up one sport from last year. The United States, who ranked first last year slid back three spots to third place.
IMD notes in their press release:
“Singapore and Hong Kong have displayed great resilience through the crisis – despite suffering high levels of volatility in their economic performance – and they are now taking full advantage of strong expansion in the surrounding Asian region.”
Countries were evaluated on more than 320 criteria to compose the list. The rankings of all 58 countries studied can be found here.
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