IMD World Competitiveness Booklet 2022


We are delighted to present the IMD World Competitiveness Yearbook 2022 . The 34 th edition of the Yearbook is launched at a moment of tremendous turmoil. The pandemic has affected all countries worldwide by giving rise to a health and economic crises. While COVID-19 is still affecting large parts of the world an additional perilous situation has emerged: the geopolitical risks re-introduced by the Russian invasion of Ukraine. In this turbulent environment, the IMD World Competitiveness Center continues to follow its mission by studying and analyzing how economies advance in generating long term value for their citizens. This year we have the pleasure of welcoming a new economy in the group of countries we study, Bahrain! Yet, the total number of economies that are ranked is 63, two economies shy of the grand total. Two economies, Russia and Ukraine, are not included in the 2022 ranking due to the limited reliability of the data collected. In 2021, the world witnessed the ability of the scientific community to develop a vaccine very quickly and the flexibility of governmental institutions to approve the vaccine at record times. The results of the 2022 Yearbook highlight the implications: increase in GDP growth, decrease of unemployment, and increase of inflationary pressures. Our results also highlight the emergence of geopolitical risks, the development of more regional centric challenges and the potential re-evaluation of the concept of globalization. As we conclude in the essay of this volume, in the last couple of years of the pandemic and world economic crises the fundamentals of competitiveness remained the same. Will this be the case after the re-emergence of global geopolitical risks? We always feel privileged for the support we enjoy from a host of stakeholders: the large amount of data we study need meticulous care that our Partner Institutes , the IMD Alumni community, and our Panel of Experts from all the countries who respond to our questionnaire thoroughly provide. Furthermore, the IMD faculty and staff provide feedback and assistance. We are fortunate and honored for their continuous collaboration. Our stakeholders, in great part, is the reason you can cherish this publication. We are tremendously thankful!

Professor Arturo Bris Director

Dr Christos Cabolis Chief Economist & Head of Operations


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