TAIPEI (Taiwan News) — Taiwan rose to fourth place in the Switzerland-based International Institute for Management Development's annual World Competitiveness Ranking.
The ranking, released on Thursday, placed Singapore first, Hong Kong second, and Switzerland third, per CNA. Driven by strong GDP and export growth, as well as nearly a decade of institutional stability, Taiwan achieved its highest position.
The IMD World Competitiveness Ranking is a key benchmark used by governments, businesses, and academia worldwide. It evaluates 70 economies across economic performance, government efficiency, business efficiency, and infrastructure.
Taiwan posted significant gains across all four competitiveness categories while maintaining a stable performance overall. As a result, it climbed two spots from sixth place last year, CNA reported.
It rose to fifth in economic performance and sixth in government efficiency. It remained fourth in business efficiency, its strongest category, and 10th in infrastructure.
The report said Taiwan faces challenges in maintaining its competitiveness in semiconductors and artificial intelligence while securing its role in global supply chains. It also called for stronger international cooperation, market diversification, investment optimization, and the development of AI talent.
Taiwan should leverage its strengths in democracy, the economy, and technology to enhance resilience, the report said. It also urged the country to use its high-tech advantages to accelerate digital transformation across industries.
Taiwan's Representative to Switzerland, Wang Szu-wei (王思為), told CNA that the return of Taiwanese businesses, talent, and capital, along with growth in manufacturing, R&D, and AI-driven production, had helped propel Taiwan forward. He said the ranking reflected the collective efforts of the government and public over the past decade.
Following Taiwan in the rankings, the United Arab Emirates placed fifth, benefiting from strong employment growth and long-term investment. Denmark, Ireland, the Netherlands, Sweden, and the US rounded out the top 10.
