The Czech Republic placed 29th in the competitiveness ranking published by the IMD business school in Switzerland. This prestigious institution regularly evaluates 61 countries. The Czech Republic climbed four places since the last ranking was issued.
The tops spots in the ranking are held by the United States, Hong Kong, Singapore and Switzerland. Of the post-communist members of the European Union, Lithuania is ranked highest in 28th place.
According to IMD, the most important changes that brought about the Czech Republic’s rise in the ranking were the country’s economic growth, fight against corruption and stable political environment. Besides the macroeconomic environment, IMD also monitors the activities of governments, such as provision of investment incentives, setting of taxes and customs duties and the cost of capital.
The evaluation committee also assessed the ability of enterprises and firms to create profit and adapt to market conditions, as well as the quality of infrastructure, including the quality of schools and the power grid, and the availability of internet access. IMD also surveys the opinions of managers by means of a questionnaire.
The ranking is available here.