Singapore topped the IMD World Competitiveness Ranking 2019

Swiss-based International Institute for Management Development (IMD) World Competitiveness Ranking 2019 said Singapore has dethroned the US to become the most competitive economy in the world. Hong Kong stands second spot in the list. USA stands third followed by Switzerland and UAE and fourth and fifth respectively.
Qatar entered the top 10. India ranked 43, one position higher compared to 2018.

Parameters considered:
The ranking process considers a wide range of hard statistics such as Gross Domestic Product (GDP), unemployment and government spending on health and education. IMD also used the soft data from anExecutive Opinion Survey which covers other parameters such as social cohesion, globalization and corruption.