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Competitiveness report: Austria on the up

30 September 2012

The latest Global Competitiveness Report from the World Economic Forum confirms a significant improvement in Austria's competitiveness.

The Global Competitiveness Report 2012-2013 recently published by the World Economic Forum (WEF) has placed Austria in 16th place among the 144 nations, up from its previous spot at number 19. Topics singled out for praise included the excellent infrastructure (15th) and an increase in innovation capacity. Austria also did well in the higher education and training category (18th) and on-the-job training (3rd).

To improve Austria’s competitiveness even further, the WEF recommends greater flexibility in the labour market (currently ranked 72) and continuing to improve its “already excellent educational system”.

The world’s top country in terms of competitiveness is Switzerland, which retains its position for the 4th time in a row, followed by Singapore and Finland. In total there are 6 European and 3 Asian economies in the top ten as well as the USA (7th).

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