Most competitive countries in the world
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Institute for Management Development, a Switzerland-based business school, has announced the findings of its annual World Competitiveness Yearbook.
The WCY rankings measure how well countries manage their economic and human resources to increase their prosperity.
One-third of the 329 ranking criteria come from an exclusive IMD survey of more than 4,200 international executives, which reveals a growing scepticism in some of the 59 economies towards globalisation and the need for economic reforms
Let's take a look at the most competitive countries in the world.
Hong Kong
Score (2012): 100
Global rank (2011): 1
Global rank (2012): 1
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Image: An aerial view shows the Legislative Council building, centre, located in Hong Kong's Central business.
Photographs: Bobby Yip/Reuters
Most competitive countries in the world
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The United States
Score (2012): 97.75
Global rank (2011): 2
Global rank (2012): 1
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Image: Signs of fast food restaurants are seen along a busy street in Los Angeles.
Photographs: David McNew/Reuters
Most competitive countries in the world
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Switzerland
Score (2012): 96.68
Global rank (2011): 5
Global rank (2012): 3
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Image: People walk on Zurich's main shopping street Bahnhofstrasse.
Photographs: Arnd Wiegmann/Reuters
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Singapore
Score (2012): 95.92
Global rank (2011): 3
Global rank (2012): 4
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Image: An aerial view of Marina Bay and Singapore's central business district.
Photographs: David Loh/Reuters
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Sweden
Score (2012): 91.39
Global rank (2011): 4
Global rank (2012): 5
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Image: Children try out a skateboard park built under a concrete viaduct in Ralambshov Park in Stockholm.
Photographs: Scanpix/Reuters
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Canada
Score (2012): 90.29
Global rank (2011): 7
Global rank (2012): 6
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Image: People walk near the Chateau Frontenac in Quebec City.
Photographs: Mathieu Belanger/Reuters
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Canada
Score (2012): 89.96
Global rank (2011): 6
Global rank (2012): 7
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Image: Participants compete in a dragon boat race to mark the upcoming Dragon Boat Festival in Keelung River in Taipei.
Photographs: Pichi Chuang/Reuters
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Norway
Score (2012): 89.67
Global rank (2011): 13
Global rank (2012): 8
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Image: People walk past the Grand Hotel in Oslo.
Photographs: Kyrre Lien/Scanpix/Reuters
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Germany
Score (2012): 89.26
Global rank (2011): 10
Global rank (2012): 9
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Image: Pedestrians enjoy the sun and warm weather during a walk along the river Main in Frankfurt.
Photographs: Ralph Orlowski/Reuters
Most competitive countries in the world
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Qatar
Score (2012): 88.48
Global rank (2011): 8
Global rank (2012): 10
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Image: Sun reflects off the glass and steel buildings on the Doha skyline.
Photographs: Jacky Naegelen/Reuters
Most competitive countries in the world
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The Netherlands
Score (2012): 87.16
Global rank (2011): 14
Global rank (2012): 11
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Image: Two women ride their bicycles on the Lindengracht in Amsterdam.
Photographs: Michael Kooren/Reuters
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Luxembourg
Score (2012): 86.05
Global rank (2011): 11
Global rank (2012): 12
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Image: View of the city of Luxembourg.
Photographs: Francois Lenoir/Reuters
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Denmark
Score (2012): 84.88
Global rank (2011): 12
Global rank (2012): 13
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Image: Boats are seen anchored at the 17th century Nyhavn district, home to many shops and restaurants in Copenhagen.
Photographs: Bob Strong/Reuters
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Malaysia
Score (2012): 84.22
Global rank (2011): 16
Global rank (2012): 14
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Image: An aerial view of Kuala Lumpur.
Photographs: Bazuki Muhammad/Reuters
Most competitive countries in the world
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Australia
Score (2012): 83.18
Global rank (2011): 9
Global rank (2012): 15
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Image: Rowers train at dawn on the Yarra River in Melbourne.
Photographs: Toby Melville/Reuters
Most competitive countries in the world
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The United Arab Emirates
Score (2012): 82.49
Global rank (2011): 28
Global rank (2012): 16
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Image: A view of Dubai.
Photographs: Mohammed Salem/Reuters
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Finland
Score (2012): 82.47
Global rank (2011): 15
Global rank (2012): 17
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Image: Cafe in the square of the Three Blacksmiths, Helsinki.
Photographs: Stringer/Reuters
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The United Kingdom
Score (2012): 80.14
Global rank (2011): 20
Global rank (2012): 18
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Image: A rower trains on the River Thames at Henley in south east England.
Photographs: Toby Melville/Reuters
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Israel
Score (2012): 78.57
Global rank (2011): 17
Global rank (2012): 19
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Image: A view of central Tel Aviv backed by the Mediterranean Sea.
Photographs: Nir Elias/Reuters
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Ireland
Score (2012): 78.47
Global rank (2011): 24
Global rank (2012): 20
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Image: A man looks at a window display of jewellery on Grafton Street, Dublin.
Photographs: Cathal McNaughton/Reuters
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Austria
Score (2012): 77.67
Global rank (2011): 18
Global rank (2012): 21
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Image: A traditional Fiaker horse carriage passes Burgtheater theatre in Vienna.
Photographs: Heinz-Peter Bader/Reuters
Most competitive countries in the world
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South Korea
Score (2012): 76.75
Global rank (2011): 22
Global rank (2012): 22
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Image: A general view shows part of central Seoul.
Photographs: Lee Jae Won/Reuters
Most competitive countries in the world
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China
Score (2012): 75.77
Global rank (2011): 19
Global rank (2012): 23
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Image: Visitors walk through the Lujiazui Financial Area in Shanghai.
Photographs: Aly Song/Reuters
Most competitive countries in the world
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New Zealand
Score (2012): 74.88
Global rank (2011): 21
Global rank (2012): 24
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Image: People cross a street after rainfall in central Auckland.
Photographs: Stefan Wermuth/Reuters
Most competitive countries in the world
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Belgium
Score (2012): 73.48
Global rank (2011): 23
Global rank (2012): 25
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Image: Tourists walk on Brussels' famous Grand Place.
Photographs: Sebastien Pirlet/Reuters
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Iceland
Score (2012): 71.54
Global rank (2011): 31
Global rank (2012): 26
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Image: People walk past the recently opened Harpa Concert Hall in downtown Reykjavik.
Photographs: Ingolfur Juliusson/Reuters
Most competitive countries in the world
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Japan
Score (2012): 71.35
Global rank (2011): 26
Global rank (2012): 27
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Image: The world's steepest roller coaster 'Takabisha', with a free falling angle of 121 degrees, is seen at Fuji-Q Highland amusement park in Fujiyoshida, west of Tokyo.
Photographs: Handout/Reuters
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Chile
Score (2012): 71.28
Global rank (2011): 25
Global rank (2012): 28
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Image: A view of Santiago City.
Photographs: Victor Ruiz Caballero/Reuters
Most competitive countries in the world
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France
Score (2012): 70.00
Global rank (2011): 29
Global rank (2012): 29
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Image: A general view shows the Concorde obelisk, Champs Elysees Avenue and the Arc de Triomphe monument in Paris.
Photographs: Gonzalo Fuentes/Reuters
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